Leadership and Financial Literacy

The Top Two Things Grossly Ignored

While Megan takes a little time away for a maternity leave, we are filling the blog with incredible guest contributors who share our mission of helping female boutique owners & Shopify sellers grow successful & profitable businesses. This article has been written by guest contributor, Kristi Brocato, and you can learn more about her and how to connect with her at the end!

In the world of business, two of the most crucial elements for success are often the most overlooked: leadership and financials. 

While many entrepreneurs dive headfirst into their passion, perfecting their products and crafting beautiful customer experiences, they frequently neglect these two pillars. Yet, without strong leadership and a firm grip on the numbers, even the most exciting ventures can crumble. 

Leadership isn’t just about having a title — it’s about guiding a team with vision and clarity. A great leader doesn’t micromanage; they empower. They set the tone, create a culture, and inspire their team to take ownership of their roles. But what happens when leadership is absent or inconsistent? Confusion sets in, morale dips, and the team loses direction. Without a clear leader, even the most talented employees can become disengaged, unsure of their purpose. Just as important, yet equally ignored, are the financials. 

Numbers tell the story of your business. They show where you’re thriving and where you’re bleeding. Understanding profit margins, cash flow, and expenses isn’t just the job of an accountant — it’s the responsibility of every business owner. Strategic decisions require data. You can’t grow what you don’t measure. Why do so many avoid these responsibilities? Because they’re uncomfortable. Leadership demands vulnerability and accountability. 

Financials require discipline and honesty. It’s easier to avoid these areas than to confront the gaps. But here’s the truth: businesses don’t fail because of a bad product or a lack of passion. They fail because the leader didn’t lead and the numbers didn’t add up. If you want to grow, lead with intention and know your numbers. Step into your role as the visionary. Dive into the data. 

When you embrace these two elements, you transform from a business owner to a strategic powerhouse, capable of making decisions that will shape the future of your business. 

Ready to step up? Your business is counting on you. Connect with your mentor or financial adviser so you can learn these valuable business lessons! 

-Kristi Brocato

The Retail Lab

Www.retailbusinesscoaching.com