Studies overwhelmingly identify bad management as the leading cause of
business failure. Bad management translates to poor planning by management.
All too often, the owner is so caught up in the day-to-day tasks of getting
the product out the door and struggling to collect receivables to meet the
payroll that he or she does not plan. There never seems to be time to
prepare Pro Formas or Budgets. Often new managers understand their products
but not the financial statements or the bookkeeping records, which they
feel are for the benefit of the IRS or the bank. Such overburdened
owner/managers can scarcely identify what will affect their businesses next
week, let alone over the coming months and years. But, you may ask, “What
should I do? How can I, as a small business owner/manager, avoid getting
bogged down? How can I ensure success?”
Success may be ensured only by focusing on all factors affecting a
business’s performance. Focusing on planning is essential to survival.
Short-term planning is generally concerned with profit planning or
budgeting. Long-term planning is generally strategic, setting goals for
sales growth and profitability over a minimum of three to five years.
The tools for short- and long-term plans have been explained in the
previous chapters: Pro Forma Income Statements, Cash Flow Statements or
Budgets, Ratio Analysis, and pricing considerations. The business’s
short-term plan should be prepared on a monthly basis for a year into the
future, employing the Pro Forma Income Statement and the Cash Flow Budget.
hey, I’m Kim + I am ridiculously passionate about helping you to work smarter and not harder + to realize how freaking amazing you actually are, exactly as you are and how easy business really can be when you are in alignment + simplify + add systems to organize your business + plan your business growth. I’ve been geeking out about online business, online marketing + systems + personal development + all that stuff since I created my first business back in 2006 + sold it.
This whole business owner thing is not for the faint of heart, there is a reason why most businesses fail!
While the road to burnout doesn’t look the same for everyone on it there are some similarities you typically experience on this path!
You’re always in the weeds of your business
You don’t have efficient systems and processes (or maybe none at all)
You aren’t delegating effectively
You can’t take time off
You’re trying to do too many things at once + wearing all the hats
It’s exhausting just thinking about it! But there’s a way off the hamster wheel!
If you’re overwhelmed, overworked, stressed out, and worried that if you take time off the bottom will fall out from beneath you and your business will fall apart.
Then, you are in the right place my friend, been there, done that, got the tee-shirt and I’d love to support you in ending the cycle!
You’re invited to access the training + 1 pager worksheet NOW!
Discover 3 Keys to Unlock Freedom + Cashflow in Your Business so that You can Stop working so hard, plug the leaks in your business so that you can unplug from your business and actually have free time to enJoy your life + love your business again!