With the new year well and truly here, the challenges of 2019 may feel like a distant memory. Some of you may have had a year you would prefer to forget—lending restrictions and negative property prices made it very challenging.
Before slipping into routine again, I suggest you conduct a review of the performance of your business, highlighting your strengths and areas of improvement to help ensure a fantastic year in 2020.
Some of the areas to assess are:
- Whether the business has delivered the profits you intended
- If the business has delivered the income you expected
- Whether you had the freedom or time to enjoy your personal life
- Whether your staff has evolved to the next level of performance
- The main barriers to your performance and your plans to mitigate these.
Take a moment to consider these questions and write down your answers. Do this with your business partner or, alternatively, schedule time with me in to help with the review and action plan for the new year.
Among the items of paramount importance at this early stage of the year are the following:
- Identifying your personal and business goals and expectations and putting steps in place to achieve these goals
- Learning how to ascertain whether a project is profitable before you tender, the types of jobs you should aim for and how to do value-based quoting rather than price-led quotes, and understanding the freedom and limitations your cashflow gives you and work within these limitations
- Focussing on the financial wellbeing of your business, which is just as important as the building quality of your projects.
Now that you have mastered building, we can help you with the other stuff by running a series of group workshops throughout the year designed to assist business owners run their companies more profitably, and to help members buy their first or subsequent properties by better understanding finance.
Register your interest by calling Financial Services on 1300 137 539.
We also have a free special offer for members where we help to determine:
- Whether your bank is ripping you off and if you can get a much better rate with another bank as well as your prospective savings.
- Whether your business plan will achieve your desired results or alternatively, we will provide a free tailored business roadmap to help you achieve your goals.
These offers are is subject to availability and bookings must be made by 23 March 2020 by emailing me directly.
Harry Pontikis – Director
0411 258 058 / email@example.com
Chocolate Money t/a MBFS
Australian Credit License 387277