Many business owners set ambitious goals for their companies—they may want to solve a big, thorny problem like climate change, hit $1 million in revenue, or create a business that leaves a legacy. But goals are the easy part. Business owners need systems to back them up.

Business owners need to make a great product or service, but they also need to market it and manage the financial side of the business to succeed. They need systems and strategies to help guide them on their business journey.

According to Xero, a business accounting software platform, poor financial management is the downfall of many small businesses in Australia. A recent report by Xero found that 65 per cent of failed businesses closed because of financial mismanagement. So, if you want to run a successful business, having a grip on your finances must be a priority.

Here are four money management tips to help you succeed.

1. Identify key metrics—and measure them.

It’s important to have measurable goals that you monitor regularly. Key metrics may vary depending on the business. For example, membership-based associations have two primary metrics: The number of members (up, down or flat?) and financials (What is the bottom-line year on year? Is your revenue up or down?).

No matter the metrics, every business should use a dashboard to help monitor the numbers. There are plenty of tools and apps out there to help you do that. Or you can develop it on your own using a basic spreadsheet. But, keep it simple—you’ll be more likely to use it.

Another tip is to use industry benchmarks from companies in your peer group to assess your overall performance.

2. Get a handle on your numbers.

One of the impediments to meeting your business goals can be a lack of insight into the business. Having full transparency of each aspect of your business can help identify which activities contribute most to the bottom line–and how to optimise them. Visibility can also help guide strategy and decision-making.

3. Create an operating budget.

An operating budget allows you to plan your revenue goals, break them down by month, and estimate the costs you need to achieve your financial goals. An actionable plan helps keep you organised and focused on achieving those business goals.

4. Enlist help.

The top advice, however, is to focus on your strengths and outsource or delegate the rest. Try tracking everything you do for your business for one week. Then, go through and highlight the jobs that only you can do. In another colour, highlight the tasks that you spent time on that don’t have to be done by you.

Business owners often think they can’t afford help, but these days there are many work-for-hire sites, from Airtasker to Fiverr.

It’s important not to think that you are alone in the business world. Outside advisors, including trusted friends, mentors and consultants, can also be a big help.