Business Advisory

What does a healthy business look like?

What does a healthy business look like?

Is it just me or have there been a lot of baby birth announcements on social media lately?

Despite the Australian population swelling beyond 24million it may still come as a surprise that a child is born every 1 minute and 40seconds.  Which is quite mind-boggling because that means that over 30 times an hour, at least for a moment, a doctor, midwife and or parent(s) are carefully and possibly anxiously staring at a vital signs monitor.  Is the pulse rate good (130bpm is good)?  Blood pressure?  Fingers and toes all there?  Arms and legs?... You get the picture.  These are all important checks and again, we don’t call them “vital signs” for nothing.  They are a good indicator of what the outlook may be.

 

My baby turns over a million dollars a year!

There are quite a few business owners who care about their business almost as much as they care about their children.  Sure, there are parallels but for those of us who have children, there’s really no comparison.  That said, for business owners who do feel this way or at least depend on their business profits to support their families, it seems odd that they would neglect their commercial vital signs.

It’s not unusual for business owners to not have a handle on their turnover, how much tax they are or will have to pay, how much profit should be protected, what the owners should be getting paid, payment terms…  The decisions made around a thorough understanding of these numbers are a good indicator of what the outlook may be.  So whether your baby is turning over $250k or into the millions – you need to keep a close watch on the numbers and what they are telling you.

 

It’s always best to have a professional standing by

We’ve all seen those movie or television situations where a heavily pregnant lady doesn’t make it to the hospital on time and a kindly cabby/fireman/panicky husband/anxious friend steps up and delivers a healthy baby and all is well.  

It’s important to keep in mind that in real life, everything is less stressful when you have a trusted and experienced professional in your corner.  Someone who can monitor the numbers and knows the best course of action to take if the unexpected should occur.

 

Delivering peace of mind

Remember all the things on your list of reasons to get start or run your own business?  Do you remember seeing “white-knuckled” stress there?

We’re inspired by the opportunity to provide our clients with an understanding of how to get the most positive impacts from their business.  Profit, time to enjoy with the family, fulfilment, pride and the means to help those less fortunate – that’s a good start.  In order to achieve these objectives we recommend getting a team of trusted professionals working for you.  A team that will happily keep an eye on your vital signs (numbers) and teach you how to do the same.

 

Feel free to contact us if you’d like to deliver more of the good things in life to the best people in yours.  Let’s have a great week.