- I know my business seems to be doing better but I’m too busy to keep up with the bookkeeping. Haven’t seen a P&L statement in awhile I couldn’t tell you where I stand, really!
- Now that we’re having this discussion and I’m more focused and I do seem to be working harder these days and not keeping as much as I thought I would!
- I don’t have clear goals and I surely do not have a strategic plan.
- I think my business controls me instead of me controlling my business!
My experience finding lost “profitability” dollars and re-structuring small to medium size businesses allowed me to suggest four steps to help bring clarity and focus to the situation:
- Meet with the business owner to gather information and insight into the workings of their business and determine if the business is helping them to achieve their personal goals. Use your business as vehicle to achieve your personal goals, and you can allow your passion to create the energy to overcome obstacles and adversities that develop from time to time.
- Organize and set up the bookkeeping function so the client has immediate financial information. Cloud computing lends itself to this benefit – instant updates and instant results!
- Prepare current financial statements to help them make informed decisions so they know where they are and how they got there.
- Facilitate discussion with the owner to review their current financial situation and to begin to develop clear goals and objectives going forward.
There are many facets of any small business where “profitability” dollars can be slipping through the cracks. We provide support, acting as a sounding board, so business owners do not have to make key decisions alone. We can refer the client to professionals who we know and trust. We can meet any professionals the client has on their management team to make certain their overall business and personal goals and objectives are being met.
When someone asks, “What does ISL Financial do? One of the things we do best is discover lost “profitability” dollars!