From Tennis Courts to Boardrooms: Learn the 3 P’s That Define Every Winning Strategy

Every skill development, from sports like tennis to mastering business financials, traverses through three essential stages.

The Plan – Learning the Principles

When I took up tennis, I didn’t just grab a racket and start swinging. I studied Roger Federer’s matches, watched instructional videos, and read the rules thoroughly. Similarly, in business, knowing your product or service inside out is crucial, but understanding the business mechanics, especially the financials, is often overlooked. Many entrepreneurs manage by intuition rather than understanding the financial reports that could guide them more accurately.

That’s why I developed the 5-Minute Forecast to show you how to use your existing accounting software and historical data to build out your 12-24 month financial forecast without creating spreadsheets from scratch or getting bogged down in mind-numbing detail. ?You don’t have to become a CFO or an Accountant to build it. This forecast doesn’t just prepare you to play the game; it sets you up to master it.

The Process – Becoming Proficient

Just like on the tennis court where practice makes perfect—from mastering your serve to refining your forehand and backhand—in business, constant refinement and adherence to your financial plan is necessary. Regular engagement with your business’s numbers can transform your operations and profitability. For instance, my client Amber moved from barely breaking even to significantly increasing her earnings and building a substantial financial cushion within a year by consistently applying the insights from her financial forecasts.

Example: How Amber went from the JV to the Varsity in 12 months

When I first met Amber, she had been in business for 15 years doing approximately $400K in annual revenue.? She had not taken a salary in years and had enough in her bank account to pay the bills but did not have a 6-month cushion nor was she building equity in her business.? Amber was playing the game but didn’t have a game plan.

“Commit to no more surprises at tax time and eliminate Payroll Panic.”

All that changed once Amber built her 12-month financial forecast and started to understand the finer points of her Profit & Loss Statement and Balance Sheet.? After 1 year, the results spoke for themselves, and she has been able to take a six-figure distribution for two years in a row.? She has a comfortable cash cushion and is building equity in her business.? When we review her monthly reports, she is within a 1-2% margin for every major forecasted number including Revenue, Gross Profit Margin, Salaries, and Net Profit Margin.?

There are no more surprises at tax time or payroll panic.

???Take Action: Motivation is upheld by discipline and being accountable.

The Person – Accountability around the Numbers & Profits

Accountability is the key, as highlighted by Patrick Lencioni in his book, The Five Dysfunctions of a Team. Just as playing tennis with a partner improves your game, having a strategic-thinking accountability partner can elevate your business performance. An external coach can provide not only technical financial advice but also motivational support to ensure you remain committed and accountable to your financial goals.?

For deeper insights into achieving financial clarity with your numbers, you can read my detailed article on Yahoo Finance here.

Closing Thoughts:

Coaching clients through these three stages has been profoundly rewarding. We start with understanding the core principles for improving profitability, then through rigorous application in the process phase, we see real growth. By the third phase, clients are not only proficient in managing their financials but are also committed to maintaining their new habits, ensuring sustainable success.

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About Patrick: As a veteran in financial coaching with over 30 years of corporate banking experience, my mission is to empower small business owners like you to become numbers confident, optimize cash flow, leverage debt, and pay yourself competitively.

Please follow for more insights and don’t forget to explore my Profit Accelerator Resources: Whenever you are ready, here are three ways I can help you:

1. Profit Accelerator Program: Become proficient with your business numbers in just 30 days, unlocking hidden profits of $25K-$75K+ in your business over the next 3-12 months.
2. Business Plan Workshop: Craft a compelling business plan to secure funding and fuel growth.
3. Profit Accelerator Community: Engage with a network of driven business owners who share your aspirations. Together, you’ll find group accountability, mutual support, and opportunities for professional growth.

Ready to elevate your financial strategy? Let’s connect and discuss how you can run a thriving business and pay yourself competitively.