086: The Financial Numbers Every Online Business Owner Needs to Track (But… That You Might Totally Be Missing!)

There are so many numbers you’ll pay attention to when looking at your money from your business. Today I want to talk about 2 numbers specifically that not enough people pay attention to! I know I didn’t for way too long, and I want you to learn from my mistake here. 

Nope, we’re not talking about revenue and profits. This is something completely different! I hope my sharing openly about what’s working for me helps YOU as well! A fast disclaimer on this episode: I am not a bookkeeper, accountant or financial advisor. I’m a website designer! I’m sharing what is working for me in my online business. The advice I’m sharing here is specific to online service-based businesses, and I realize that not all types of businesses need to watch the same numbers. 

What you’ll learn in this episode:

- The 2 numbers you need to pay attention to, but might be ignoring right now 

- What scaling my business and paying myself through scaling has looked like over the years 

- Why I hate “marketing math” - what it is, problems with it, and how you don’t need big revenue numbers to make a great living 

- Thoughts on paying attention to your money, even as a “non-math person” 

- Plus, 2 “life updates” in the beginning of this episode. Super fun! 

Links mentioned in this episode:

- Get on the waitlist for my upcoming course for designers: https://elizabethmccravy.com/waitlist 

- Claire Pell’s Get Paid Podcast (episode #122): https://clairepells.com/122/ 

- Shop Elizabeth’s EM Shop website templates: https://elizabethmccravy.com/shop/ 

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As you start your biz, you’re likely starting subscriptions to things left and right, like Showit, Dubsado or Honeybook, FloDesk, Riverside, and Kajabi just to name a few. To get the best deals on your needed software + easy to understand info about that software and if it’s right for you, head to https://elizabethmccravy.com/tools

(This page does use affiliate links, which means I may earn a commission!) 

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Over my 9 years of business, I have learned some financial skills the hard way and a few years ago, I developed an an 8 step process I go through at the end of each month. This process helps me know how my business is doing financially, pay myself well and allocate money for things like taxes and expenses. And, it's yours for FREE at https://elizabethmccravy.com/profit