The Power of Understanding Your Financials: A Game-Changer for Creative Business Owners
The Power of Understanding Your Financials: A Game-Changer for Creative Business Owners
As creative business owners, we naturally excel at the visionary side of things—designing beautiful spaces, building relationships with clients, and creating marketing strategies. But there’s a side to business that is often overlooked and, frankly, feared by many: the financials. You can be incredibly talented at your craft, but if you don’t understand your numbers, you’re putting yourself at a disadvantage.
Recently, I had the pleasure of working with LuAnn Nigara, host of A Well-Designed Business podcast and co-owner of Exciting Windows. If you’ve listened to LuAnn, you know she’s a powerhouse—someone who has built a highly successful business, created an incredible platform through her podcast, and become a leading voice in the interior design industry. Yet, like many business owners, she found herself less confident when it came to her financials. Despite years of experience, LuAnn, like many entrepreneurs, wasn’t fully comfortable making certain financial decisions without consulting others first. She wanted to change that—and that’s where I came in.
LuAnn hired me to help her bridge the gap between her incredible business savvy and the power that comes from understanding and managing her finances. In her words, it was about “owning every part of her business,” including the side that isn’t always glamorous but is essential for long-term success.
In this blog post, I want to share our journey together and highlight the importance of mastering your financials—no matter what stage of business you’re in. Whether you’re just starting out or a seasoned entrepreneur like LuAnn, gaining control of your financials is the key to unlocking new opportunities and growth.
Financial Literacy is Non-Negotiable
One of the first things LuAnn and I discussed was the idea that financial literacy is non-negotiable if you want to run a successful, sustainable business. Whether you’re a creative entrepreneur, an interior designer, or a window treatment professional, your talent alone won’t carry your business across the finish line. You need to know how to make your money work for you, not just how to make money.
For LuAnn, she had been running her business for over 40 years, building it alongside her husband, Vin. While she understood the value of financials in theory, there was always this lingering feeling of not having full ownership over that part of her business. Vin, being more numbers-focused, naturally took the lead when it came to financial decisions. But LuAnn wanted to be able to look at her books and know, with confidence, where the business stood financially without having to ask for validation.
Her experience is common for many business owners, especially creatives who may feel less comfortable with the financial aspects of their business. However, the idea that understanding financials is too complicated or “just not for me” is a myth. You don’t have to be a finance expert or have an MBA to understand and manage your business finances effectively. It’s a learnable skill, and once you have that knowledge, it empowers you to make decisions with confidence.
Numbers Tell a Story—You Just Need to Learn the Language
One of the things I always emphasize when I work with clients is that numbers are not just static figures on a spreadsheet—they tell the story of your business. Your financials reveal where you’ve been, where you are now, and where you’re headed. They help you make sense of your business decisions, evaluate the effectiveness of your strategies, and plan for the future.
For LuAnn, once we dug into her financials, she quickly realized that it wasn’t just about understanding the numbers but about using those numbers to tell the story of her business. What was working? What wasn’t? Where was there room for improvement? And more importantly, how could we align her financial strategy with her business goals?
For example, one area where LuAnn gained insight was in revenue streams. She had multiple streams of income—LuAnn Live, her podcast, speaking engagements, and more. But what she hadn’t done was fully connect those revenue streams with her financial goals. We worked together to identify the opportunities within each stream, evaluating past performance, and strategizing for future growth. This gave her a clearer picture of how to maximize profitability while staying aligned with her mission.
Align Financial Strategy with Business Goals
Every business decision you make should be backed by data. But for many business owners, decisions are often made based on gut feelings or incomplete information. LuAnn shared that, for years, her decisions were heavily influenced by what “felt” right rather than what the data was showing. This isn’t uncommon. Many entrepreneurs build businesses based on intuition and creativity, and while that’s important, the numbers need to validate those decisions.
When we aligned her financial strategy with her business goals, LuAnn could make more informed decisions. For example, we examined her income streams and set specific goals for each one, considering what was realistic based on past performance and market conditions. Then, we looked at her expenses, ensuring they aligned with her growth plans. This process wasn’t just about setting goals; it was about creating a roadmap to achieve them.
Gaining Confidence in Numbers Means Gaining Confidence in Decisions
One of the most rewarding outcomes of working with LuAnn was seeing her gain confidence in her financial knowledge. When we first started, she admitted that, while she understood some of her financials, there were areas where she deferred to others—whether that was her husband or her accountant. Over time, through our CFO2GO program, she began to understand the numbers more deeply, which allowed her to make decisions with certainty.
She mentioned in our discussions that this newfound confidence was freeing. She no longer felt the need to rely on others to validate her choices. Instead, she could look at the numbers herself, understand what they meant, and make decisions based on real data. Whether it was deciding to invest in a new revenue stream, hire a new team member, or make a significant purchase for the business, LuAnn felt empowered because she had the knowledge and tools to make informed choices.
The Role of Tools Like Metrique Solutions in Financial Clarity
One of the tools we used during this process was my financial platform, Metrique Solutions. This software was designed to help business owners like LuAnn streamline their financial data, making it easier to manage and interpret. During one of our calls, LuAnn’s husband, Vin, joined us, and I’ll never forget his reaction to Metrique. He said, “Michelle, this is amazing. Everything that Metrique does, I’ve been doing manually for years. But it takes me hours and days to get the same information. This is a game-changer.”
Metrique allows business owners to input their financial data, track revenue streams, set profit goals, and run projections—all in one place. For LuAnn, it meant she could finally have a clear, real-time picture of her financials without having to sift through spreadsheets or rely on someone else to crunch the numbers. It became an essential part of her financial management toolkit, giving her the ability to plan ahead and adjust course as needed.
You Don’t Have to Do It Alone
Finally, one of the most important lessons LuAnn learned—and one I share with all of my clients—is that you don’t have to do this alone. Hiring a coach or financial expert doesn’t mean you’re not capable; it means you’re investing in your growth. LuAnn’s willingness to ask for help and her commitment to understanding her financials made all the difference.
Whether you’re like LuAnn, a seasoned entrepreneur looking to take full ownership of your financials, or you’re just starting out and want to build a solid foundation, the key takeaway is this: understanding your financials isn’t just about making more money—it’s about gaining the confidence to make better decisions for your business.
In closing, I want to encourage you to take control of your financials, no matter what stage you’re in. As I told LuAnn, financial clarity is a powerful tool that can transform your business. Don’t be afraid to dive into the numbers, ask for help, and use tools like Metrique Solutions to streamline the process. Whether you need a CFO2GO program, financial coaching, or simply the right tools to get started, you deserve to feel empowered by your financials, not overwhelmed by them.
Let’s work together to make that happen. Schedule your free discovery call now.
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