Almost everything you desire and experience for yourself, your family, your
community of customers, and possibly that big goal you have in your heart to help
improve the world comes as a direct result of the effectiveness of your business
operations and profits derived from the business.
Are you experiencing ALL you desire from your business?
Many business owners receive their financial statements as late as six weeks or
even months after month’s end, whether they are prepared in-house or from an
accounting professional. When this happens, you lose valuable time in which
situations can either be improved or corrected. Instead of taking advantage of an
opportunity or solving a problem when it became apparent, the opportunity may
have come and gone and or the problem has continued for another month or
more, potentially costing you thousands of dollars.
Many owners I find skim their numbers hurriedly after receiving, and move on with
business and life, possibly missing significant opportunities. I suggest reviewing
your statements with your financial partner. Improvements in your company
perhaps await where possibilities and opportunities are waiting for your talent and
creativity.
It is the delayed and incorrectly prepared financials that I have often found the root
cause of problems and missed opportunities for many businesses. Also, many
owners are embarrassed because they cannot read a financial statement. They see
their numbers but do not know what they mean and how to apply them to the
business and improve things and move the business forward. I tell them that there
is no reason to be embarrassed as they are busy operating their business.
However, financial professionals can significantly assist and fill this information gap
of the owners by understanding and interpreting their numbers.
My goal is to help owners turn their bookkeeping/accounting functions from an
expense item into a strategic asset.
Here are actual comments from business owners – in their own words:
• Need to gain insights to sustain and scale my business
• I’m still operating like a startup regarding my finances and cash flow.
• I need systems to take me to the next level.
• Need a finance support person to teach me how to go to the next level
• Need support, teaching on how to be sustainable and have a way to operate
from
• Developed habits as a startup regarding finances and cash flow and
continued using those ways as I haven’t gotten myself or the company in
enough trouble yet to make me change. I haven’t had the time to learn what I
need to do or change how I’m doing things. I see down the road I will need
to make changes in the way I need to operate, but don’t know what I don’t
know.
• I have no plan for the future but know I need one.
• I need to know what to do next
• I have no rest; I need to be able to have time to plan
• I need to take some hats I’m wearing off as I cannot continue to wear all the
hats
• I’m still doing all the accounting, using Quick Books, but not using it correctly,
using the basics only, I’m usually behind in imputing the transactions
• I don’t currently have a good handle on things
• I’m managing my cash flow from a spreadsheet – just the ins and outs right
now; I’m not on top of it
• I have no consistent structures in my business; I need to create systems to
accomplish all that is required to be done correctly and on time
• I know in a perfect world I need to know some of the accounting to engage
my business correctly but don’t need to do all the grunt work like I’m doing
• I need a way to keep up
• I currently have problems in my business
• I don’t have a forecasting system
• I know I have leaks in my checking account
• I’m being double billed and don’t have the time nor the personnel to find it
• I’m over-drafting my account monthly
• I’m getting behind on my payments
• I’m self-funding my real estate investments from my business via draws, and
this is creating cash flow problems because I don’t know where I am at any
one point in time
• I need a tactical system/process to review. I am with cash flow day today
• I need a strategic system/process to forecast cash flow for the next three
years as I know I will lose contact in 3 years, and it is 1/3 of my business now;
I need to prepare
• I have an accountant that I pay monthly to do the bookkeeping. However, it’s
been frustrating. As I did some digging, I noticed she has been doing a very
messy job, making the P&L statements completely unhelpful and relatively
useless/inaccurate.
• In general, I don’t know how to measure whether we are budgeting and
spending the way we should be.
• I would love to understand how to read P&L statements and apply their
information to my decision making.
If you have said or thought of any of the above statements, let me go to work for
you, so you experience ALL you desire out of your business.
Contact me at larry@larrytyler.biz or call/text me at 828-371-3436