The secret to finding business finances fascinating (even if you don’t)
Not long ago, I sat down with a business owner who confessed that they weren’t particularly interested in the financial side of their business. Their passion was delivering exceptional service, not getting bogged down in the numbers.
Does that sound familiar?
Many business owners feel the same way.
The obvious reason is that they’re not accountants — they’re focused on building their businesses, serving their clients and driving innovation.
But today, I’d like to offer a different perspective, one that might surprise you.
Perhaps these business owners simply haven’t been given the kind of financial information that truly captures their interest.
Let me tell you about a new client of ours, who runs a family business. Before partnering with us, their financial understanding was limited to end-of-year accounts and basic monthly reports — just the bare essentials: money in, money out, and profit.
They decided to work with us because they wanted their son, who will one day take over the business, to become more involved in its management. They realised that good instincts alone wouldn’t be enough; he needed accurate and insightful financial data to truly grasp the business’s health and make informed decisions.
We’ve been working together for three months now, and the transformation has been remarkable.
We took over their day-to-day accounting, revamped their processes, and transitioned them to our state-of-the-art accounting software, iplicit.
But what’s really changed the game is the introduction of monthly management accounts — something they’d never had before. These reports don’t just offer a high-level overview; they provide a detailed breakdown of key financial categories, highlight trends over time and answer the specific questions that are most relevant to their business.
What’s been fascinating is how this newfound financial clarity has sparked their curiosity.
Suddenly, they want to dig deeper into every detail — they’re asking questions like, “Why has X changed?” or “Why didn’t this project deliver the expected results?”
To help them understand what it all means, we hold monthly meetings to walk them through the data and discuss the implications. This isn’t just about numbers; it’s about equipping them with the tools they need to make better decisions and feel more confident in their leadership.
As another business owner recently told me, “It’s like a lightbulb going on in the room.”
When you have detailed, organised financial information tailored to your business, it opens up a whole new way of understanding your operations. And that’s fascinating, even for those who didn’t think they’d ever be interested in finance.
Of course, the key is that this information isn’t just a random assortment of numbers, which would probably not really pique your interest. It’s carefully curated to answer your most pressing questions and track what really matters.
And we’re with you every step of the way to help you understand it — you’re never grappling with this alone!
But the real thrill isn’t just in understanding the numbers; it’s in using them to grow your business faster and maximise your profits. That’s exactly what our outsourced financial management service is designed to do.
So, could you use better financial information?
If you’re ready to gain a deeper understanding of your business and make critical financial decisions with more confidence, let’s chat about how we can help. Simply email garry@insightassociates.co.uk or call our office on 01279 647 447 to arrange a no-obligation consultation with me or with one of our specialists.
Warm regards,
Garry
