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Hi. My name is Terry, and I'm the President of Quicksilver Accounting & Consulting,  Wilmington NC.

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Main | B1G1 - An amazing opportunity »
Wednesday
Oct022019

Why? The question that needs to be reassessed yearly

When doing Advisory work with clients, I often wonder, why did clients start their business? If asked this question in discovery, they usually give similar answers. Here’s just a small sample- flexibility, pursue a passion, create something unique, help people, financial independence, tax benefits, to be self-efficient.

The answer is never ‘to have a job”. Yet, many have created a business where they work too many hours, don’t pay themselves enough, can’t take time off, and don’t know where the cash has gone. In other words, it’s not what they anticipated, and all they have done is create a job they can’t quit.

Indeed, in the beginning, you do work long hours to create something for the long run. But if that hasn’t changed over the years, it’s time to do some hard analysis and find ways to balance life and work. Fall is the perfect time to look back on your year and find the problems that keep you from really moving towards what you truly wanted for yourself. Sometimes that means recognizing that significant changes have to take place, like laying off workers, finding a way to increase sales, improving cash flow, or learning to delegate more.  Maybe your priorities have changed? It’s time to analyze, repair, budget, and move forward to a new start in 2020!

 

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