All over the world, we celebrate New Year’s Day as the time for making resolutions to change things in our lives. With a new financial year starting on 1 July, perhaps we should begin a new tradition by using this date as an opportunity to make financial resolutions. For business owners, it could serve as a “reboot” to existing plans that have lapsed or an incentive to start this financial year in better shape than the last one.
Strategic Focus Needed to Take Advantage of Every Opportunity
When faced with the daily operational challenges of running a business and the myriad of details involved, many owner-operators overlook the more strategic aspects of their financial situation. This often results in a missed opportunity to correct a situation in its early stages without lasting damage.
Are you one of those business owners who don’t really know the overall state of their finances? Here at Charter Partners, we have helped many of our clients in similar situations through our Business Health Check program. We guide them through a process that assesses their current position, and gives them a detailed financial scorecard of their business.
Making Decisions without the Right Information is Risky
As a business owner, naturally you would like to start the new financial year with your financial indicators in top shape. However, you risk making critical decisions without all the information. For example, you may have a healthy cash balance and decide to pay down some debt without realising the effect this action will have on your cash flow.
Start a Structured Program and Take a Long-Term Approach to Improvement
Our program looks at the whole business including the structures and systems it relies on to support all its operations. It will show you the areas that are having a negative effect on profitability and growth. Because you will be fully involved in the process, you will also understand the current state of your business, giving you the confidence to make the critical decisions needed to improve the situation.
No Guesswork Needed
Our reports include instructions on how to increase profitability, charts and graphs that show the current situation, and also projected financial data on the future potential of your business. There will be no guesswork in your decision-making process, as you will have a complete picture of where you are right now.
Every Positive Change Starts Somewhere
If you feel that 1 July this year is too close to get everything in place through a program such as ours, don’t put it off. This will not bring about the change you want. Start working with us now, and set 1 July 2018 as the financial year your business increases in value, improves net profit and positions itself for a sound, positive future.