Many business owners don’t know where to start on their path to success. I almost always start in the same place – we focus on money management issues and the infrastructure needed to maintain a financially healthy business.
I like QuickBooks. It’s easy to use and effective. If they need to get their records cleaned up, we do that first. I can do it for them or teach them how to do it themselves. Whatever works best for them.
Then we assess what the numbers tell us. We always find that there is a lot about their money they didn’t know. We may find they are not billing, or not collecting what is owed. We often find that they have underestimated their financial needs. That they need enough money to run their business and run their household and pay their taxes.
Next we design an action plan. We look for ways to reduce spending and how to bring in more money. We put in whatever money management tools and strategies they need to get on track and help them stay on top of their game.
In order to make more money, we identify where our time is best spent. This actually is the fun part for the business owner. Taking action is always more fun than worrying.