How to Use Numbers to Make Smart Decisions

Interview Summary

Growth Amplifiers is all about bringing you experts in B2B that can help you increase profitability and succeed in your business. Our spotlight shines on Kelli Cox for this edition. Kelli is a financial expert when it comes to knowing numbers and how to use them to guide smart, educated business decisions that lead to business transformation.

As a CPA, business advisor, and CGC Accounting & Advisors owner, Kelli always wanted to do something with numbers. From her own popsicle stand at six, she was a natural. She nurtured her entrepreneurial spirit. 

She has a knack for crunching numbers, strategic thinking, and analyzing figures to gain clarity about the financial state of businesses. With a background and wealth of experience in small business management and accounting for small businesses, she heads up CGC Accountants & Advisors in Palm Desert, California, with a team of tax, accounting, bookkeeping, consulting, outsourcing, payroll, and business services experts.

The Challenge: Business Owners are in the Dark

She shared the challenges businesses face and how to overcome them to achieve optimal results. The first obstacle Kelli identified as business owners not knowing where they stand with their financials and what the numbers mean. “Their expenses are overrunning their revenues,” she states. Or these business owners may be flush with cash now but don’t have a plan set to take them into the future.

The chaos and whirlwind of business activities can send business owners off track. To get ahead of the challenge and take their business to the next level, they need to educate themselves on what their financials mean. Solving this is as simple as reviewing your profit and loss each month and comparing these against the month prior and the prior year. 

You should know what a balance sheet is as well as profit margin. Monitor these changes to learn about your business’s financials. With the help of a guide like Kelli, who has the knowledge and experience to translate these numbers, you can make better decisions to improve the performance of your business. That could mean accelerating the things that work and decreasing those activities that are holding your business back.

Another issue that could be stopping your business’s success or growth is not identifying trends or financial history. For example, you could have a product costing too much to produce. Finding this out sooner rather than later is critical. If you don’t figure this out for six months, you’ve lost a lot of money.

Gain Clarity on Your Numbers

If you are not sure about your numbers, what they mean, and the know-how to plan your future in light of those numbers, it’s time to get clear. It’s time to educate yourself on your financials and review your monthly profit and loss statements. And it’s always great to get another eye on them to make sure you’re on the right track. As a TaxBuzz Verified Professional and member of AICPA and CAICPA, Kelli Cox is uniquely positioned to do just that.

You can get on the right track by simply reaching out to CGCBiz.com for a wealth of information. Comb through the blogs for valuable financial and accounting data. Then reach out for your initial consultation to discover programs that can help you. You’ll get an outside perspective of your numbers. The team at CGC Biz gets to know your business, understand your goals, and tailor something to help you reach those goals.

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