A new year is the perfect time to take stock of where you and your business are going. There is no point in waiting until after June 30 to take time out and review your business.
So with this in mind, let’s start with some simple questions. How are your numbers stacking up? Have you been regularly achieving your targets?
There are many ways of looking at your business – pick the top 3 key performance indicators and regularly review these numbers against last year’s figures and your budget.
Now let’s have a look at where you are. Does your business look and feel like you thought it would when you started? Come to think of it…why did you go into business in the first place?
Did you have an ‘Entrepreneurial Seizure’ and realise you could do a better job than your boss or did you have some real plans in place; some forward vision? Are your reasons for going into business still valid, or do you need to modify them? Is your business a lead balloon around your neck or are you really focussed and ‘flying’?
More importantly, are you making enough money for your efforts? By this we don’t just mean profits; are you making money and taking it out of the business for yourself and your family? Are you buying property in your self-managed super fund, spending it on the kids or having some great holidays? This is your opportunity to make money and enjoy it.
Next, where do you see your business in 3 years - doing the same old thing or taking some leaps of faith? Both can be right - it’s just a matter of what’s right for you.
Now let’s look at what hurdles are in the way. Are they real or just limiting beliefs? What could you achieve if you bumped them out of the way?
If you really threw your weight behind the business where could you go? How much would financial success go towards improving your lifestyle?
Where do you start? The key word is YOU. Unless you are ready to start improving your business you will get the same old results over and over again.
If you need assistance give us a call. We can ensure you are on the right path to becoming financially well organised.
Contact Jeni Wilcock or Terry Dewing on 9526 1211 or email for information or a helping hand!