How to build a company you love08th May 2019
Over my last few articles, I’ve walked you through the first two steps in our process for creating a business that you really love.
Here’s a reminder of what they are:
Step 1: Clarify your vision.
Before you start building your business, make sure you know what end product you are aiming for. When your business is “done”, who will it serve? How will it operate? What kind of team will be in place? What will the atmosphere be like in the office?
Just as importantly, how will it serve you, the owner? What kind of income will it bring you, what hours will you work, what kind of work will you do, how do you plan to exit?
The clearer your blueprint is, the easier it will be to follow.
Step 2: Put in place your financial foundations.
To build the business you have planned, you’ll need money…. As well as systems and processes to efficiently handle payments, invoices, taxes, payroll, cash flow and to make sure your accounts are both timely and correct. Without these in place, you will feel like you’re on a financial rollercoaster.
It’s hard to build a business when you are continually unsure how profitable you really are, how much money you are going to have in the bank next month and whether you can really afford that new piece of equipment you really need.
But when your finances are in hand, something magical happens.
You need to buy a new piece of equipment? You can know, with complete certainty, whether you can afford it.
You need to create a new department? No problem. The new staff were already in your budget, so you know exactly how they are going to be paid for.
You want to grow faster? Just look at your management accounts, to find out exactly which parts of your business are most profitable and should be invested in, and which should be cut back. Or what would happen if you raised the prices of particular products by 5… 10… 15%... and plan accordingly.
Imagine how much more confident and in control you would feel about your business, if you truly understood the financial implications of every decision you took.
But there is another advantage, too.
When your finances are so transparent, you can deliberately put in place everything you need to build that wonderful company you dreamed of, back in Step 1…
…Confident at every step of the way, that it makes financial sense.
That’s Step 3 of our process: Build your company.
You take the blueprint we developed together, and systematically implement it.
We help you understand the financial repercussions every step of the way….
Until you are left with a business you love….
A business that serves you, instead of running you ragged and stressing you out.
In this business, you work the hours you want – going home every day at 5pm if you like, or working into the wee hours of the night if that is what you prefer.
You do the work you enjoy, dropping the bits you hate (but have to do right now!) because you have a capable team in place.
If you dream of a busy office of 50 people, you can have it. Want a smaller, tighter team? That’s what you get.
And you can draw the income you need to enjoy life and sleep at night…. take the holidays you want…. and when the time comes to retire or sell up, the business is geared up for that too.
If that sounds like a dream come true, know that none of this comes about by accident.
It comes about when you follow our process – developing a clear vision, giving yourself the financial tools you need to make it all happen, and then slowly but surely, implementing your plan, in a financially astute way.
If you would like our help putting this system to work for you and your business, get in touch with me today.
I’m accepting clients to the exclusive 3-Step Process by application only, so hit ‘reply’ to this article to let me know you are interested…
And let’s start building a business that truly works for you.