The worry: My business doesn’t make enough money.
The problem: Your business is not providing enough money for you to live, invest in the business and save for retirement. There just isn't enough money to do everything you know you should do.
Your story: You’ve been in business for ten years or more. You’ve built a business that provides an OK income. You're worried that one little set back could end your business. You have been told you should have a retirement plan and could even own the real estate your business operates in. The problem is, you just never have enough money to buy your real estate or save for retirement.
Every year you think you’ll have enough money for these extras you want. Every year something comes up that gets in the way. You’re frustrated. After all, you’ve never been trained in running a business. You just seem to never have time to learn what will make your business more sustainable. You're worried that if you can't find a way you'll either have to work to you drop or sell your business and get a job working for someone else. Neither option is very appealing.
Issues you might have...
- I don’t know where my money goes.
- Without me, there is no business.
- We have to reinvent the wheel with almost every customer.
- We run out of money every month and are always using our line of credit.
- I have to look over the shoulder of my employees all of the time.
- Create better financial controls.
- Learn how to be a passive owner.
- Learn about niche management.
- Put a budgeting process that reveals the hidden metrics in your business.
- Put systems in place that allows your employees to know what to do.