In my 35+ years in corporate accounting, one of the most common things I see is an owner who works incredibly hard but only finds out how the business is really doing when the accountant sends something over, or when the bank balance gets uncomfortably low.
You don't need to become an accountant to run your business well. But you do need a few numbers in front of you every week. Think of them like the gauges on a dashboard: a quick glance tells you whether you're on track or whether something needs attention before it becomes a problem.
Here are the five I'd start with.
1. Cash in the bank, and what's coming in and going out
This is the big one. Look at how much cash you have today, then look ahead: what money do you expect to come in over the next few weeks, and what bills, payroll and loan payments are due?
Why it matters: profit and cash are not the same thing. A business can be profitable on paper and still run short of cash, because customers pay late, big bills land at once or growth requires spending before the money comes in. Checking your cash weekly is how you see a crunch coming instead of being surprised by it.
2. Money owed to you
Look at your unpaid invoices: who owes you, how much and how long it's been. Pay special attention to anything more than 30 days old.
Why it matters: money owed to you is money you've earned but can't use. The longer an invoice sits, the harder it usually is to collect. A quick weekly review, followed by a friendly reminder, can make a real difference to your cash.
3. Sales this week, compared to your goal
How much new work did you sell or book this week? How does that compare to what you need to hit your monthly goal?
Why it matters: sales today become revenue (and cash) later. If you only look at sales at the end of the month, it's too late to do anything about a slow one. Looking weekly gives you time to adjust.
4. New leads and opportunities
How many new inquiries, referrals or sales conversations came in this week? Where did they come from?
Why it matters: this is your early warning system. If leads drop off this month, sales will likely drop off next month. Tracking where leads come from also shows you which marketing is actually working, so you can do more of it.
5. Your profit on the work you're doing
This one usually needs a bit more setup, and you may review it monthly rather than weekly at first. Look at what you charged for your work compared to what it cost you to deliver it (labor, materials and other direct costs).
Why it matters: not all revenue is good revenue. Some clients or services bring in money but leave very little profit once you account for the time and cost involved. When you know which work is truly profitable, you can focus on more of it and reprice or phase out the rest.
Make it a 15-minute habit
Pick the same time every week. Friday afternoon or Monday morning works well for most owners. Pull these five numbers into one simple sheet or notebook page, and write one sentence about what you notice.
It won't feel exciting at first. But within a couple of months, you'll start to see patterns, you'll make decisions with more confidence, and you'll stop being surprised by your own business.
Start where you are
If you're thinking, "I couldn't pull these numbers right now if I tried," you're not alone, and that's useful to know. It usually means your bookkeeping needs some attention first. Getting your books caught up and kept current is the foundation that makes every other number on this list possible.
Want to see how your business scores on Strategy, Systems and Growth? Take the free Owner Clarity Scorecard.
Recommended reading: Scaling Up by Verne Harnish and Profit First by Mike Michalowicz. See why I recommend them.
This article is for general education and isn't individual financial, tax or legal advice.
— Jackie