Episode 9

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Published on:

31st Dec 2024

Trust - the foundation of small business success

Welcome to another enlightening episode of Numbers Knowhow, where we delve deep into the lifeblood of small business success—trust. I'm Mahmood, your host, and today we'll break down why trust is more than a mere buzzword. It’s the backbone of customer loyalty, employee retention, and valuable relationships with suppliers. Imagine your local cafe where the barista remembers your favorite order, or a plumber who consistently shows up on time. These aren’t just random acts of kindness; they're strategic moves that build an unshakable foundation of trust. Trust is what keeps customers coming back, makes employees loyal, and establishes resilient partnerships in challenging times. Tune in to learn practical steps that any business, no matter how small, can take to cultivate and maintain trust.

In this episode, we'll cover crucial points like honesty and transparency, keeping promises, clear communication, and showing consistency. We’ll also touch on how taking responsibility for mistakes can significantly bolster your credibility. Think about it—have you ever faced a delay in service or a mix-up in an order? How businesses handle these hiccups profoundly impacts your trust in them. We provide actionable steps, such as keeping customers proactively informed about delays and avoiding making promises you can’t keep. These straightforward yet effective practices not only ensure customer loyalty but also fortify your reputation as a reliable enterprise. Through relatable examples and scenarios, you'll see how these principles translate to real-world success.

After listening to this episode, you'll better understand the practical applications of trust in your business operations. You’ll be equipped with actionable strategies to foster a trustworthy environment for your customers, employees, and suppliers. By incorporating these methods, you'll be more adept at managing relationships, communicating effectively, and maintaining the consistency that trust depends on. You’ll see immediate benefits like enhanced customer loyalty, improved team morale, and reduced friction with suppliers. All of this ultimately leads to a stronger, more resilient business that stands out from the competition.

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About the Podcast

Numbers Knowhow: Business Improvement and Performance
Understanding your business finances
Why Numbers Knowhow? Well, I've been asking myself for years why so many business owners, artists, and creatives feel overwhelmed by numbers.
I’ve always had a knack for breaking down complex financial concepts into something that’s easy to digest.
My name is Mahmood Reza, and welcome to Numbers Knowhow, the podcast that’s designed to strip away the financial jargon and give you straightforward, practical advice to help you master your business finances. Our mantra here is three simple words which I'll reveal throughout the podcast.

In this teaser episode, "What is Numbers Knowhow?" I kick things off by addressing the common fears and anxieties many people feel when they think about their business finances. You’ll discover that you’re not alone if profits, cash flows, and budgets make you feel uneasy. We believe that with the right guidance and tools, anyone can get control of their business finances. Whether you’ve just started your business or you’ve been running it for years, there’s always something new to learn.
Today, I’ll introduce you to our core philosophy — and explain how these three steps can make a transformative difference in your financial management.

By listening to this podcast, you're not just signing up to gain some financial knowledge; you’re empowering yourself to take actionable steps towards a wealthier future.
You’ll learn how to plan effectively by using simple tools like a cash flow planning platform. You’ll understand why it's crucial to execute these plans efficiently.
You’ll see how focusing on these early steps leads directly to profitability.
Not only will you be better equipped to handle the numbers side of your business, but you'll also reduce the stress and anxiety that often comes with financial uncertainty.
You’ll start to feel a new sense of confidence as you make better, more informed business decisions.

About your host

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Mahmood Reza

Hi, my name is Mahmood, accountant, educator and author of the book, I Hate Numbers !!
I actually love numbers and what they can do for my business – and every business - but I come across so many people who have a real fear of numbers/maths/accounts (and accountants), and therefore, their business struggles to survive, never mind thrive. If only they knew how to get a fondness and some kind of control of those numbers!
Why am I so passionate about all of this stuff I’m putting out into the public domain? It’s my belief that once you understand what your numbers are, where they come from, and what they mean, you can use them to make better decisions and ultimately make (or keep) more money. What every business owner wants, right?
The one thing I’ll always guarantee you, is that whether you’re the CEO of a global corporation, or a market stall trader in your local town, your numbers matter – and you simply can’t get away from them. This book is your chance to get them all in one place, face your fears, and start making those numbers work for you.