… and what to do about it
It’s frustrating to see business owners sticking their head in the sand in relation to issues that have the potential to derail or destroy their business. I’ve seen recent examples where putting these issues off has caused a lot of heartache and financial cost.
No budget for the business
Are you running a business without a budget? If so, you’re probably frustrated by a lack of performance. The good news is, you’re probably feeling dissatisfied enough to accept that you need to do something about it.
Want to start winning? Talk to us.
Or, maybe you’re in the lucky few who do well despite themselves? Well, don’t be too smug because you’re probably leaving money on the table, all over the place. Think about it. How much fat is there in your business? Under-performance is your enemy.
Want to find out how much better you could do? Talk to us.
Never reviewed the corporate structure
When was the last time you looked at your corporate structure? Does it still fit the business, or have you grown out of it? Has the law changed right underneath your feet? Maybe you’re not sure?
The wrong structure could be costing you money, costing you flexibility and exposing your assets to risk.
Want to review it? Well, you’re in luck. New laws allow you to restructure more easily, without triggering capital gains tax. Talk to us.
Never reviewed the business plan
Ever heard of the saying “out of sight, out of mind”? Well, it’s the same thing with a plan. If you’re not referring back to it, you’ll forget what you intended to do – also known as drifting. Drifting is costing you money and opportunity.
Want to fix it? Talk to us.
No shareholders’ agreement
This is the business equivalent of Russian roulette. Still, you’ve been in business for years and nothing bad has ever happened. So, it never will, right? She’ll be right, touch wood.
Is this you? Are you seriously doing this? Wow! Just keep pulling that trigger, pal. I wish no-one needed a shareholders’ agreement, but it just isn’t so. Save yourself a LOT of heartache. Talk to us.
Hahaha! I have to laugh. All the reasons why you haven’t done it…I’ve heard them all before.
I remember going to an estate planning seminar. Asks the audience member: “When should I do my will?”. Responds the lawyer: “Well, if you know when you’re going to die, you don’t need to do it yet.” Uh-huh. He said that. Pretty sobering reality check.
Look – I get it – nobody really wants to get it done, they just need to get it done. Don’t overthink it, you can always change it later. Just get something down on paper so you don’t leave behind a shit-storm when you’re gone. Talk to us.
Hopefully this has given you a wake-up call to address issues you’ve been putting off in your own business.