Two simple but vital questions that every business owner should be asked.
Because when it gets down to the nitty gritty, this is what we all want…
To have the income and lifestyle that allows us to live the life that we want.
Of course, I’m being realistic, we’re not talking about champagne, expensive cars and jet setting lifestyles; it’s about having an income that enables you to:
And having the free time to enjoy the lifestyle that goes with it.
This is the first target for many business owners, but this is often a struggle. Business profits may be low which means you don’t have the income you need or you’re working all hours which means you don’t see much of your family and are constantly tired.
And do you know what your income needs to be?
Have you ever sat down and worked it out?
And do you know what your company sales and profit need to be each month or year to provide you with this income?
And if you’re working flat out, with ‘no time’ for anything else, have you looked at how you can create time?
We spend time getting to know them and their business, what’s going well, what isn’t.
If profits are too low, cash flow is tight or the owner is working to hard we look at how we can work closely with the business owner to improve the situation.
As business owners ourselves and having worked with hundreds of other businesses, we have seen the same issues many times and have been able to use our knowledge and experience to help improve performance.
If your business isn’t providing you with the income and lifestyle you want, please get in touch and we’ll be very happy to discuss how we can help you.
A Blog by Telfords Accountants , more here