Running a business is a major lifestyle choice and significant challenge for most business owners. Unfortunately it is a fact that 80% of businesses fail within the first 5 years. In many cases this can be avoided with the best chance of your business success being to invest more of your time and money in educating yourself, and getting help from a specialised business accountant. Owning your own business can provide major rewards giving you control, flexibility, money and lifestyle, but without careful planning and time spent working on the business, it can become a chore.
Kennas specialist business accountants can help you answer YES to all the above questions. Below are some ideas which we can assist you with implementing which we know will help take your business to the next level.
Understand Your Business
The first step is gaining a complete understanding of your business and building a platform of the NOW. This should include a financial and business review, staff feedback, and client/customer feedback. Only then can you fully understand where your business is at NOW.
Kennas can undertake a complete financial review and provides a summary of key findings so you can understand the financial health of your business. We can also complete a business diagnostic review of your business covering the 4 key areas (money, customers, processes and staff), and then compare this to other businesses to see how your business stacks up. Kennas is also accredited to carry out staff surveys and customer surveys, to help gain valuable feedback from the two most important groups of people you deal with, your staff and your customers.
Plan Where You Want To Go
The next step is to look forward and picture WHERE you would like to be. This can be very different from business owner to business owner. Some dream big and picture themselves with a business operating in many different locations, or having a lot more time and money derived from their business success to focus on lifestyle. For others it may be simply earning a decent profit for the hours they put in. For every business owner the key is to set your FINANCIAL SUCCESS PLAN which incorporates where you want to go, and covers the 4 key aspects of financial success, wealth protection, business improvement and strategy, tax control and minimisation, and growing your wealth.
Kennas can help your business look forward, by showing you what can be achieved with best business practices in place, and what the profit improvement potential of your business really is. We can help you prepare your FINANCIAL SUCCESS PLAN ready for you to start working towards having more money and more time to enjoy life.
Preparing for Financial Success
The Kennas Financial Success Program
Ways to Improve Cashflow
How Will You Get There
The third step, and hardest, is actually working out HOW you will achieve FINANCIAL SUCCESS and making this happen.
This is where Kennas can provide the most help to clients, by being their financial and business mentor, their business CFO, providing advice and help along the way, and holding you accountable to your goals and for your actions. Kennas strives to be each client's business and financial life partner to ensure we give you the best chance of achieving Financial Success.
We help clients set realistic goals, financial targets, set up financial scorecard systems for their business, and provide business improvement advice across all aspects of business. We can benchmark your business to your prior year results, your financial targets, and other businesses, providing you with valuable decision making financial information.
We can help you set action plans, and help you implement best business practices. After 120 years of operating one of Central Queensland's most successful businesses, and advising thousands of businesses over this time, we have the experience and expertise to help your business succeed as well.
And probably the most important thing with the HOW, is that it doesn't need to be overwhelming. Major change is as simple as small steps. Constant improvement and changing a range of key areas just 1% will achieve a major difference in your business.
Kennas is all about growing yourself to be a better business owner, and growing business sales and profits. Call Darren or Peter our specialist business accountants today for your FREE initial meeting.