“Know your numbers, and you’ll know your power—ignorance is a costly gamble.” – The Bearded Mentor

Beard Trimmings: The Strata Management Game Plan

FREE Download - The Bearded Mentor's Top 10 Tips for Strata Managers at beardedmentor.com  
 
I didn’t become a strata manager to stumble blindly through budgets and cash flow—I wanted to run a tight ship that delivered results and kept everyone happy. I imagined myself confidently presenting financials at meetings, growing my business with solid profits, and sleeping easy knowing I had it all under control. But too often, I found myself lost—winging it with numbers I didn’t understand, dodging tough questions from owners, and praying the bank balance didn’t dip into the red. The secret? It’s all about knowing my numbers. That’s the shift that took me from guesswork to grip, from panic to power. Let me break it down for you and share how I turned my financial fumbles into a game plan that works.
 

The Point: Know Your Numbers

Beard of Insight 

Knowing your numbers is the foundation of running a real business. When I started in strata management, I thought I could skate by on gut instinct—big mistake. It’s not just about paying bills; it’s about understanding the story behind the figures so I can steer the ship instead of sinking it.

Scruffy Mess 

Without knowing my numbers, I was a disaster waiting to happen—stumbling through a fog of financial chaos. Picture this: I’m at an owners’ meeting, and someone asks, “Why’s the maintenance fund so low?” I’m sweating, mumbling vague excuses because I hadn’t tracked the cash flow. Back then, I’d get a levy notice, pay it late, and hope the next one didn’t come too soon. I lost a big client once when a special levy for a roof repair went sideways—I underestimated the cost, didn’t budget for it, and the owners blamed me for the shortfall. My first business bled money because I didn’t know my profit margins or overheads—I’d take on jobs thinking they’d pay off, only to realize I was barely breaking even. I couldn’t tell if I was growing or just treading water, and the stress kept me up at night. Ever been there? Thinking you’re in charge but secretly terrified the numbers will catch you out?

One time, I nearly bounced a contractor’s check because I hadn’t checked my trust account balance—pure luck saved me when a late payment came through. I was flying blind, and it wasn’t just embarrassing—it was dangerous. Owners expect you to have answers, and I had none.

Shaping the Stubble 

Here’s how knowing my numbers changed that for me: I got serious about financial literacy and built a system to stay on top. After that first business flopped, I swore I’d never be caught off-guard again. I started with the basics—tracking every dollar in and out. I set up a simple spreadsheet: income from levies on one side, expenses like repairs and insurance on the other. I checked it weekly, not monthly - waiting too long had burned me before. Then I learned to read the big three: profit and loss, balance sheet, and cash flow. It sounds fancy, but it’s just knowing what I earn, what I owe, and what’s actually in the bank. For example, I started forecasting—estimating next quarter’s costs based on past jobs, like a $5,000 lift repair I knew was coming. I even hired a bookkeeper part-time to keep me honest—she caught a double-billed invoice I’d have missed. Now, when owners ask about funds, I’ve got the data ready—no more sweating.

Try this: grab your last month’s bank statement and list every transaction. Split it into “money in” and “money out”—you’ll spot leaks fast. I did that and found I was overpaying a cleaner who’d double-charged me for months. Another trick: set a “numbers day” each week—mine’s Monday. I review my sheets, tweak my budget, and sleep better knowing I’m in control. It took me too long to learn this—don’t wait like I did.

Groomed Glory 

That means I got clarity, confidence, and a business that thrives—rewards that turned me around. Knowing my numbers means I’m not guessing anymore—I can see where every cent goes and plan ahead. Owners trust me now; at meetings, I roll in with reports that shut down doubts before they start. I’ve grown my portfolio because I know what jobs are worth taking—last year, I passed on a low-margin complex that would’ve drained me dry. Cash flow’s steady too—contractors get paid on time, and I’ve got a buffer for surprises like a busted boiler. One client told me, “VJ, you’re the first manager who knows what’s what”—that’s gold after years of floundering.

Here’s the kicker: it’s not just about now—it’s about tomorrow. With my numbers dialed in, I can spot trends—like rising maintenance costs—and adjust before they bite. If I ever sell, buyers will see a business with clean books, not a mess they’d have to fix. Last month, I took a rare long weekend—first time I didn’t worry about money while I was gone. My systems kept the cash flowing, and I came back to a profit, not a panic. That’s the power of knowing my numbers—freedom to lead, grow, and live, all because I stopped guessing and started tracking.

One Last Trim
 
I don’t have to stumble through the dark anymore—and neither do you. With my numbers in hand, I can run a tight ship and deliver results. My new book dives deeper into this in “Chapter 3: I Didn’t Know My Numbers.” Want more? Grab 10 Things I Wish I Knew Before I Became a Strata Manager to unlock the full strategy. Take the first step today—your clarity and control depend on it!

Available on Amazon now.