Everyone is stressed about money.

That's the message I'm getting right now. I talked to a colleague the other day who admitted they hadn't sold anything in two months. Others say they have no money for anything—not even investing in something that will absolutely help grow their business and alleviate their money worries.

This really troubles me. Not just because of the stress and even despair I hear, but because I truly believe there is a solution.

You have to know your numbers.

Stick with me! I'm not saying, Hey, you're struggling with money? No worries! If you can tell me what your revenue goals are and how you're doing against them, everything will be hunky-dory!

It's not that simple, but knowing your numbers is power. Let me explain:

How do you feel when you're struggling with money? Stressed. Worried. Scared. Helpless. Desperate. Those are emotions that pull you down. They're hard to think through. They keep you from problem solving. If you can't solve your problems, what do you have? Even more problems.

Knowing your numbers helps stop that cycle of emotion so you can focus on solutions.

Let me give you a personal example. When I look at my revenue for this month, I see that a pretty healthy percentage is already-contracted business. That's money that I definitely have coming in. But that already-contracted business does not equal my revenue goal. I'm a little short.

Because I know my revenue goal and I know the amount of revenue that I definitely have coming in this month, I also know how short I actually am. This is good for three reasons:

1. I know exactly how much more I need to make. I'm not guessing. There's a huge difference between I don't have any money! and I'm $2,000 short for the month.

2. I might not like the number, but it's tangible. Because I know it, I have something to work with. It's no longer a scary unknown. It may still be intimidating, but it's something I can solve for.

3. I can say to myself, "Okay, so how do I make $2,000?" By being able to ask myself this question, I've put myself into a solution space: What is the next thing I have to do to take a bite out of a $2,000 gap? Your answer might be that you need to extend a contract, close two more sales or follow-up on those delinquent invoices. Whatever it is, it's taking action. Taking action always feels better and accomplishes more than freaking out.

It's time to know your numbers!

Whether you're stressed about money or rocking your goals, this is a great time to see where you are and where you need and want to be—and there's plenty of time left in the year to make great progress. Check out the resources in this newsletter for help. And please reach out to talk about your specific situation.

Don't go it alone. I've got your back!

Jim Roman

Strategic Business Coach

P.S. Having a business coach is one of those investments that can feel hard to commit to when you're stressed about money, but it's also an investment that can make a huge difference in your revenue and success. Listen to this podcast or read this blog article to learn more.