So what does being financially well organised look like? Well, something like this:
- You have an annual profit plan for your business, which is aligned to the success you deserve
- You monitor your business performance against your profit plan on a monthly (or even daily) basis
- You monitor your debtors, so your cash flow is working for you and you know where every dollar is in your business
- You know your numbers like the back of your hand and understand how they contribute to your success
- You contribute regularly to your superannuation as part of your wealth creation plan
- You plan for tax payments so they’re not a shock and understand that paying tax is a necessary part of success, as long as you don’t pay any more than you should!
- You focus on paying non-deductible debt first
- You continue to build a profitable business, knowing that profitable businesses have a sale value
- You build your team and make sure they’re trained in their chosen fields
- You give your team authority to take pressure off you, because you know that a successful business is one that works when you’re not there
- You build strong relationships with your clients, customers and suppliers
How many items can you tick off the list?
Our philosophy at Sullivan Dewing is to achieve the best financial outcomes for our clients, by helping them increase profits, reduce tax, create wealth and protect their assets. As our clients’ trusted advisers, we accept this role with pride and integrity. No matter how large or small the job is, we are committed to helping our clients become financially well organised.
If you need some help with getting financially well organised, we’d love to help. Contact us online or call 02 9526 1211.