In this episode of The Know Your Numbers Podcast, host Craig Alexander Rattray speaks with Rebecca Sutherland, a seasoned entrepreneur, investor, and mentor, who has successfully turned around several businesses. Joining the conversation from sunny Portugal, Rebecca opens up about her journey through the challenging world of business ownership, the importance of financial literacy, and the hard decisions that come with running companies.

Rebecca shares how her experience in a struggling manufacturing business led to a deeper understanding of the importance of knowing your numbers - confidence built through mastering her profit and loss accounts, balance sheets, and cash flow. She discusses how this knowledge, combined with the right team, can be the turning point for businesses on the brink. Rebecca’s candid reflections on the emotional toll of closing a business and how she emerged stronger offer valuable lessons for all entrepreneurs.

Key topics discussed include:

• Rebecca’s journey from acquiring and turning around struggling businesses to investing in and mentoring others.
• The critical importance of surrounding yourself with the right people in business and life.
• How mastering your financials builds the confidence to make smarter, more strategic decisions.
• The emotional weight of closing a business and how Rebecca used that experience to grow both personally and professionally.
• How she now helps other business owners align their business goals with their personal lives, focusing on sustainable, people-centred growth.

Key Takeaways:

• "Without the right people, you’re not going anywhere."
• "The numbers do not lie—master them to make better decisions."
• "From failure comes innovation. You learn the most when things don’t work out."

Memorable Quotes:

• "It’s not about knowing everything, it’s about knowing what you don’t know and finding the right people to help you fill in the gaps." – Rebecca Sutherland
• "I used to get financial reports and just nod along, not really understanding. Now I ask the right questions and push back." – Rebecca Sutherland
• "Owning a business should be fun—too many business owners aren’t having enough fun." – Craig Alexander Rattray

Resources Mentioned:

• Connect with Rebecca Sutherland on LinkedIn
• Know Your Numbers Mastery Course
• Recommended Book: Rocket Fuel by Gino Wickman & Mark C. Winters - Here On Amazon (NOT and affiliate link!)

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Key Timestamps:

00:42 Meet Rebecca Sutherland

01:06 Rebecca's Business Journey

04:34 Challenges in the Manufacturing Business

06:30 Lessons from the Know Your Numbers Course

13:28 Advice for Struggling Business Owners

16:10 The Importance of the Right Team

20:14 Building a Balanced Team for Success

21:22 Understanding Every Role in Your Business

22:42 Learning from Failures and Innovating

23:31 The Importance of External Perspectives

25:54 Employee Ownership and Leadership Development

28:27 Advice for Aspiring Business Owners

30:04 Helping Businesses Thrive

31:18 Balancing Business and Personal Life

34:00 Conclusion and Future Projects