Today is results day in our house – my daughter, Anna, got her GCSE grades this morning.
After 11 subjects and 28 exams across May and June, she finally got to see how all that effort paid off. There were nerves and excitement this morning…but that was just me and Louise. Anna was cool as a cucumber.
And now, after allowing us to accompany her to school, she’s off claiming free stuff all round Liverpool with her friends. (Free pizza in Frankie & Benny’s, free photo booth in Urban Outfitters, etc!)
But results day isn’t just for students. Businesses have their own results day too…every single month.
Why results matter
GCSE results are a scorecard. They show what’s gone well and what needs work. And, crucially, they’re feedback you can learn from.
It’s exactly the same in business. Your numbers – profits, margins, cash flow – are feedback. They tell you whether the work you’ve been putting in is paying off.
The danger of ignoring them
Imagine a student who never checks their mock exams, never listens to feedback, and just hopes for the best on results day. (I think I’ve just described Anna…or me!!!) But, seriously, it’s not a great strategy.
But many businesses do exactly that. They wait until the year-end accounts to see how they’ve done. By then, it’s too late to change the outcome. Or plan for the tax bill.
Regular feedback beats nasty surprises
The smartest students know that mocks and revision tests aren’t just annoying hurdles – they’re a chance to adjust before the big day.
For businesses, weekly KPIs/scorecards and monthly management accounts do the same thing.
They’re your mock exams. They let you see what’s working, fix problems early, and avoid nasty surprises when “results day” comes round at year-end.
The takeaway
Your business is the same. The numbers don’t lie. But, if you measure them regularly and act on them, you can always improve. Or give yourself a pat on the back! Like we gave to Anna earlier.
So, when’s the last time you had a proper “results day” for your business?
If you need any help, please email su*****@*********************co.uk or give us a ring on 0151 380 8084.
Many thanks
Jon
PS The next step for Anna is to go on to A-Levels in Economics, Maths, Further Maths and Politics. So clearly she’s headed to be an accountant…or Chancellor of the Exchequer.