It’s an unfortunate fact that most small businesses just don’t do well financially.
Firstly, we have the basic survival issue – around 50 – 60% of companies will fail and close before their 5th birthday, and only around 10 – 20% of businesses will still be trading at the 10-year point.
Of those that make it, the vast majority just “get by”. They don’t make enough profit, and tight cash flow becomes a way of life.
And I don’t just mean the micro and lifestyle businesses here; I’m talking about companies turning over several million and looking to the outside world like they’re successful, but in reality scraping by on 2-3% net profit or less.
As a business owner, your life is determined by how your business is doing. It affects what you earn, where you live, what car you drive, what hours you work, how much time you spend with your family, what and how many holidays you take, how you feel about yourself, your self-confidence and your stress levels.
Not to mention your entire future is banking on your business!
Below are some of the most common financial issues affecting small growing business.
Can you relate to any of them?
- You don’t feel like you’re fully in control
- You can’t see what’s coming in future months
- Your marketing isn’t giving you consistent sales
- You’re not paying yourself enough
- Cash flow often feels tight
- Your business isn’t giving you the life you want and thought you’d have by now
- Things feel chaotic
- You haven’t got the right information to make decisions
- You’re not making enough profit
- You’re not putting enough into your pension
- You don’t know what your business is worth
- You just don’t have a robust financial plan for your future
If you were nodding away to the majority of the statements above, perhaps it’s time to stop…take a breath…then take stock of what you’ve got.
We offer a structured step-by step approach to take any business to where it wants to be financially. Tell us your dreams, we’re ready to help you achieve them.
Book a free 30-minute call with me
If you’re ready to take action and would like to find out more, you can book a free, 30minute call with me. I promise there won’t be any ‘sell’; that’s just not how we operate – just an informal chat to see if I’m the right person to help you.
To book your call, please email Martin at email@example.com and I’ll get back to you within 24 hours.