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
K elvyn 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
Most business owners do not think of selling their companies... Read More
You've always liked flowers and you think the idea of... Read More
Many times small businesses want to expand their businesses and... Read More
You have spent considerable time pulling your business plan together,... Read More
Do you operate your business as a series of projects,... Read More
When do you need to get more involved with the... Read More
Why does research and education play an important part of... Read More
Most folks in the pressure washing business are happier to... Read More
Canon City, Colorado is known for it's 6 Prisons; State... Read More
We hear a lot of talk about junk mail nowadays.... Read More
Most small business owners are faced with so many responsibilities... Read More
Cash is King?That is what everyone tells us and it... Read More
Disclosure laws in franchising are suppose to help the consumer.... Read More
There are only a handful of car wash franchises in... Read More
1. TargetYou are not all things to all people. Decide... Read More
Providing high quality customer service is a must for any... Read More
Ongoing support for a franchise system is omnipotent. A major... Read More
Whether your target audience is in your neighborhood or across... Read More
When is it a good thing to say no to... Read More
Let me get right to the point. The single most... Read More
Starting and managing a small business is no fun chore,... Read More
An observation while returning home from a seminar: Getting away... Read More
1. Leadership Is Learned ? While many people appear to... Read More
Did you ever have one of those days or weeks... Read More
Do you need grant funding for your nonprofit organization? If... Read More
Q: After years of dreaming about starting my own business,... Read More
On June 8, 2004, the world witnessed what no one... Read More
Here are some useful tips on how to select a... Read More
If you are in the professional car care business you... Read More
You bet it's worth it. Publicity via news releases, along... Read More
There are many factors to be considered when you are... Read More
When working from home, it is usual to find that... Read More
Why do you need an account plan?When you first decide... Read More
During the California Recall Election, I was very interested. Without... Read More
1. Resolve to build a consistent network system.Since referrals are... Read More
Franchising Corporations need to maintain an iron fist when it... Read More
It has been discussed allowing Franchising companies to electronically disclose... Read More
CONSIDERATIONS FOR YOUR INTERN: Specify the number of hours the... Read More
Don't you find that there are so many decisions you... Read More
Who is responsible for maintaining the business relationship?Nurturing a business... Read More
A few years ago, I visited Beijing for the first... Read More
Car Wash Crime in the Hood. Apparently not everyone is... Read More
Commonly folks have asked me what the technical difference is... Read More
The FTC, Federal Trade Commission, is considering modifying the franchise... Read More
Not sure how to start a small business? This guide... Read More
Franchising is the fastest way to build small businesses, provide... Read More
Remember the cleaning business is all about time ratio to... Read More
You've probably heard the statistic that 95% of small businesses... Read More
How do you make sure you have the business solutions... Read More
As long as you eat and breathe you will stay... Read More
Why are we over regulation the franchising industry, what purpose... Read More
There is a great deal of abuse going on in... Read More
Do you spend every waking minute in your business? Do... Read More
The FTC- Mighty Federal Trade Commission has unilaterally decided to... Read More
If you own a mobile truck washing, pressure washing or... Read More
One of the great challenges for independent professionals and small... Read More
While I was hard at work last week, an everyday... Read More
If you've been considering incorporating your small business, you've probably... Read More
Security Professionals provide the products and services necessary to create... Read More
What image do you and your people portray to your... Read More
Every business plan book tells you how the Executive Summary... Read More
The home-based business market, sometimes called the SOHO (small-office/home-office) market,... Read More
Traditional advertising methods are still being used for almost 90%... Read More
A lot of business owners I've spoken with lately have... Read More
Why? Because they have access to world class public relations... Read More
If you are a motorcycle detailer and need to expand... Read More
Small Business |