for small business owners
Operating a business comes with risks!
New businesses are particularly vulnerable!
• Many fail in the first year
• Most are gone by year 5
• The rest usually stagnate by year 7
Established Businesses are not immune!
Older businesses tend to lose momentum or have become complacent. There are 3 areas of concern –
Problems within the company tend to build up over time. Even if they are acknowledged, they are rarely addressed because there always seems to be something more important that needs to be attended to.
These problems usually centre around people and procedures. If left, they will continue to manifest and drag down the efficiency of the business.
Problems that come from outside of the business are often conspicuous because they come in the form of complaints from customers, calls from suppliers wanting payments, calls from collection agencies, or worse – from the Tax Department wanting to do an audit.
These problems are not helping the business. A business owner cannot function efficiently when they are ‘fighting fires.’
There are problems that come out of nowhere that can blindside a business – even destroy it. The recent Covid-19 pandemic is a prime example. This caught a lot of small businesses off guard, simply because those businesses were totally unprepared.
These events cannot be prevented but he business can be protected.
But who do you turn to for help?
THIS IS WHEN BUSINESS OWNERS TURN TO US
Because we identify and solve problems!
Our first task is to understand the strengths and weaknesses of your business. The common approach is to look at ‘The Financials’ for a solution. But to us – the financials are just a ‘symptom’. To get to the real issues, we talk to everyone in the company.
Businesses are run by people – not numbers.
Think of it in terms of a sport. Sports are won and lost by goals, runs, or points – they all determine the outcome of their respective games. But it is the players who make those scores happen. Similarly, it’s the people in a company that are the driving force, and therefore we focus on the people.
Once we have gathered all the relevant data, we first analyse it and then put a plan together to help prevent the business from becoming another statistic.