What is a goal? Who is the goal for? What are the requirements for a goal?
Since we are coming upon 2013 we need to lay out our road map for our business. Let’s concentrate on goals for the coming year:
After you get your yearly goal set, then you need to set up monthly goals, you know, those pesky stepping stones, benchmarks (whatever you want to call them!) that will keep you on course to the yearly goal. I do them on the last day of the month.
After you get your monthly goal set, then you need to break them down into weekly goals. I do mine on Sunday evening for the coming week.
And lastly, get your daily goals set, I do mine just before I go to bed, so my plan for the next day is clearly before me.
Your business cannot survive in your market place without a plan. Businesses spend thousands of dollars on marketing and they don’t have any way to determine the value of that marketing! If you need a business plan in business, you certainly need a marketing plan in business.
Bookkeeping is simply posting the expenses and income that is provided, we also provide monthly meetings to review the data, make recommendations and give advice to better audit your spending and ways to increase income – sort of like having your own CFO on staff once a month to answer questions
Forensic Accounting on the other hand is an in-depth look at the expenditures and income – was it spent correctly? – where did the income come from? – is there correct documentation? is there an audit trail? – does the trail go where it should?
Who uses forensic accounting?
Employers – if they think employees are embezzling from them.
Employers – if they think employees are using a company credit card for personal expense.
Attorneys – if they need to document a case. This can be Estate attorneys as well as Criminal attorneys. White collar crime is on the increase and it is very difficult to untangle most times. We have worked with Real Estate and Construction Attorneys as well
The second biggest reason businesses fail is that they begin under capitalized. If you are not independently wealthy, have independently wealthy family or friends, you are probably struggling in this economy.
If you are needing a cash infusion, you need a business plan first. Whether you are going to go to your bank, the government or investors, they are going to ask you for a business plan.
There are three main reasons you should not write this yourself.
1. YOU need to be able to sell the financial stability of your plan to the lenders or investors.
WE find the strong points and emphasize them, WE find the weak points and explain effectively, how YOU will deal with them.
2. YOU need to be able to sell what makes YOUR company different and unique from YOUR competitors
WE determine what niche, you can fill that your competition doesn’t. WE design the marketing to that niche.
The first of the two most common reasons Small Business owners fail is that they try to wear too many hats.
When you worked for the large company you didn’t realize the work that was done by the CFO and their staff – all that accounting stuff that you hate doing after working all day!
When you worked for the large company you didn’t realize the work that was done by the COO and their staff – all that Marketing, Sales and Customer Service Stuff! All the training of people that you hire!
Our outsourcing department can do all of that for you!
We work with your tax accountant. We set up your books and give you a monthly, quarterly and yearly report complete with recommendations for improvements and cost savings.
We can develop a training manual, provide sales and customer service training without expensive travel involved. You’ll love our outsourcing capabilities! Our goal is to make you successful enough that you will want to hire someone fulltime to do what we are doing. Then you are big enough that you don’t need us any longer! Cool, huh!
Check back and find out what the second most common reason Small Business owners fail!