Before you start a business we encourage you to prepare a business plan. Without it your business has a 92% chance of failing within the first 12 months. Sometimes your business plan tells you that you should not go into business at all!
Sometimes we encourage you to think seriously before you decide to go ahead with a risky business. But we always encourage the preparation of a business plan.
If you use a professional to assist, the fee can be between $3,000 and $10,000. Or you can purchase off-the-shelf plans that give you the form and you do the research for information to fill in the 'blanks'. Either way, it will take at least three weeks for you to come up with the completed plan and normally much longer.
So the chief reason is that you probably don't have $3,000 to $10,000 for the professional. If your business is struggling it's probably got very little money to pay existing creditors without incurring further expense with no immediate return.
Another problem is that you will definitely not have the time to prepare one. You need something done now, not in three weeks or more time.
What is your biggest hassle? Is it creditors ringing? Do you hate to answer the phone? Could you get on with some productive work if only they would leave you alone? After all, they know you are a good person and would pay if you could. Don't they?
Then let's focus on this. There are strategies to take all that pain away and your professional CPA knows them.
At one seminar a participant said that her accountant knew all the right answers but she did not know the right questions. By the time she found at what she should have done it was too late and did not matter anymore.
That's not good enough.
Consider the thousands of small firms that fail each year and note that 99% of them were being advised by professional accountants. It's obvious that the accounting profession generally has failed small business.
Find one who can and will help you. One that will stand in the background ready to advise when you face those business problems. An accountant should really make a difference in your business life.
Do you need more sales? Would things be easier then? Let your CPA show you some simple low-cost marketing tactics to work on that problem.
Your problem may not be lack of sales. Extra sales may even put you into a worse situation. I was called in to rescue a printer which was kept so busy with sales they couldn't keep up. But their debtors were so slow in paying that the more sales they made the worse their cash position became.
What about staff? Are they a pain? It's probably because the boss is a pain at the moment.
The point I am making is that rather than a plan which will bring future results, you need tactics which will bring immediate results. Let's worry about the business plan when we know the business will survive.
If you think nothing can be done. If you think it's all too late. You are wrong! There is always something that can make things better.
You just need a little help. You will find it at http://www.profitstrategies4business.com
Kelvyn Peters is one of Australia's longest serving Tax Agents. Kelvyn was registered in February 1962. He is a director of Restaurant Catering Qld Inc the peak employer representative in Queensland, and advised the hospitality industry for many years. His speciality is moving in to rescue ailing restaurants.
Kelvyn Peters CPA has spent over 20 years experimenting and researching methods to help small business in meaningful ways that are affordable.
Kelvyn and his associates have perfected it with their local clients now they are going global. http://www.profitstrategies4business.com
executive chauffeured services Bradford .. Madison to Airport carOne of the major complaints in the QSR Quick Service-Fast... Read More
New Franchisors and Entrepreneurs need to watch out as they... Read More
Gather round while I tell you the story of Kennebec... Read More
Auto Detailing: Maintaining A Commercial Carpet ExtractorYou should drain your... Read More
Just a few years ago, when one thought of a... Read More
Whether it has been thrust upon you by external market... Read More
There are many little details that go into making sure... Read More
While there are few career paths that some would call... Read More
The FTC- Mighty Federal Trade Commission has unilaterally decided to... Read More
In many industries, image is one of the last things... Read More
-- The One Pager Shortcut Series --People do business with... Read More
If you ask most small business owners what priority CRM... Read More
Forget everything you've ever heard about the U.S. Small Business... Read More
Due to the over regulation in the Franchising Industry and... Read More
Service Cleaning Businesses must maintain their equipment in order to... Read More
One major issue not being addressed right now in the... Read More
Database Problems in MarketingI have been working on a direct... Read More
Many smaller businesses choose niche markets for various reasons and... Read More
Do you promote yourself as offering prompt, reliable and quality... Read More
Most small business owners seek advisors who can help them... Read More
I love lists. I make them for everything. And I'm... Read More
Looking for ways to boost your cash flow? As a... Read More
Many new ventures are preoccupied with all the money they... Read More
You may be in Mail Order, Direct Mail, or you... Read More
Thinking of starting a business on line? If so there... Read More
O'Hare Chicago prom limo ..Lance Armstrong this week won an unprecedented 7th Tour de... Read More
Some of the greatest words of wisdom for any man... Read More
What is the Big Race all about when it comes... Read More
A janitorial cleaning service is one of the best businesses... Read More
If you own a mobile service or home based franchise... Read More
Each day we hear of companies entering the franchising industry.... Read More
In the world today, many people are further in debt... Read More
My colleague, Jane, recently lamented to me an all too... Read More
I have to admit, I was curious. When I saw... Read More
Boston itself covers 50 square miles of concrete and traffic,... Read More
Researching information for a recent business plan, I came across... Read More
BioTechs even with the latest news had shed over 1000... Read More
Are you responsible for your results?What comes to mind when... Read More
In the first article we mentioned the main characteristics that... Read More
The Boston suburbs seem to be rich with possible locations... Read More
If you've been thinking about starting a business, but are... Read More
The Franchise Group at the Federal Trade Commission in all... Read More
Sometimes when you run a business you feel as lonely... Read More
Writing a business plan for a mobile car wash is... Read More
Every company has business pain, but the pain does not... Read More
If you discovered the bottom line in your business depended... Read More
Forget everything you've ever heard about the U.S. Small Business... Read More
As a solo entrepreneur or small business owner, one of... Read More
Your grandfather probably told you to "learn something new everyday".... Read More
Many of us have noticed how some nearby communities seem... Read More
Small Business |