Episode 280

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Published on:

6th Jul 2025

How to Start With Success in Business (2025 Update)

Thinking of starting your own business? Whether it's for freedom, profits, or making an impact, success begins with clarity and preparation. In this week's episode of the I Hate Numbers podcast, we explore how to start with success in mind—and avoid the common pitfalls that derail so many new businesses.

Drawing from decades of real-world experience, Mahmood shares what it really takes to build a sustainable, profitable business—from defining your "why" to knowing your numbers.

Main Topics & Discussion

 

Know Your "Why"

Your "why" is the foundation of your business. It's your motivation and direction. Whether it's freedom, profit, social impact, or personal pride—clarity here keeps you focused when challenges arise.  

Define Success On Your Terms

Success looks different for everyone. Is it financial freedom, more time, job creation, or personal fulfilment? Define what success means to you—and how you'll know when you've arrived.  

Set SMART Goals & KPIs

Vague goals like "get more clients" don't cut it. Use SMART goals (Specific, Measurable, Achievable, Relevant, Time-bound) to set clear targets. Track progress with KPIs like:
  • Income and profit targets
  • Website traffic and conversions
  • Client retention and churn rates
 

Understand Your Customer

Business success depends on knowing your customer. Who are they? What problems do they have? How does your product or service solve them? Remember the 7Ps of Marketing:
  • Product, Price, Promotion, Place, Packaging, Positioning, People
 

Know Your Numbers

Numbers are your business compass. Get comfortable with:
  • Digital bookkeeping (cloud accounting recommended)
  • Budgets and cash flow forecasts
  • Profit targets and pricing strategies
Good financial systems reduce stress and support smarter decisions.  

Leadership & Mindset Matter

Starting a business is tough. Expect good days and bad. Success requires resilience, consistent action, and continuous learning. Good leadership is about making decisions, learning from mistakes, and staying focused.  

Real-World Example

Mahmood reflects on starting his own business 30 years ago—from a back bedroom to building I Hate Numbers. The lessons? Clarity, systems, knowing your numbers, and staying focused on your "why".  

Links Mentioned in This Episode

 

Episode Timecodes

  • [00:00:00] – Introduction: Defining success in business
  • [00:01:00] – The importance of knowing your "why"
  • [00:02:38] – Defining success on your terms
  • [00:03:18] – Setting SMART goals & KPIs
  • [00:05:00] – Understanding your customer & the 7Ps
  • [00:06:16] – Know your numbers: budgeting & cash flow
  • [00:08:00] – Leadership, mindset & resilience
  • [00:09:49] – Business success starter checklist
  • [00:10:29] – Final thoughts & free resources
 

Host & Show Info

Host Name: Mahmood Reza About the Host: Mahmood is an accountant, business coach, and founder of I Hate Numbers. With over 30 years helping businesses start, grow, and thrive, he's passionate about making numbers simple—and helping entrepreneurs succeed. Podcast Website: https://www.ihatenumbers.co.uk/i-hate-numbers-podcast/  

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Business success takes more than luck. Plan it. Do it. Profit. Share this episode, rate us on Apple Podcasts, and subscribe for practical tips to help your business thrive. Visit our website for expert resources and support.  
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About the Podcast

I Hate Numbers: Simplifying Tax and Accounting
Helping you and your business make more profits and reduce your anxiety
For some, watching paint dry, or a poke in the eye is better than dealing with their business numbers. I get it, numbers can be scary, confusing, and boring, not what your business is meant to be about.

But here’s the thing. If you’re serious about your business, you need to grab hold of your numbers, and connect with them. Falling in love with them may feel weird, but at least be on friendly terms with them if you want your business to survive and thrive.

Numbers make you accountable, showing you the financial impact of your successes, a route map to success and highlighting those flip-ups. Above all, learning to love & use your numbers means you have a better chance of making money, what’s not to love.

Fundamentally business is there to make money. You need to make money to survive and have impact. It’s about knowing how your future is going to pan out.

As a business finance coach, financial story teller and tax advisor, I've helped thousands of businesses over the years.

I love numbers, but I get it that not many businesses will do so. I want to share my love of numbers through my podcast, to make it accessible, to help you and your business power forward.

My aim is to make this podcast listener friendly, jargon and BS free.

In the words of W.E.B. Dubois “When you have mastered numbers, you will in fact no longer be reading numbers, any more than you read words when reading books. You will be reading meanings.”

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.