Designing Your Business to Meet Your Financial & Personal Goals

Designing Your Business to Meet Your Financial & Personal Goals

Posted: April 13, 2017

Very few businesses start ‘with the end in mind’ and design it from the ground up. Most businesses grow by default with people, systems, culture, clients, numbers, habits and attitudes. If you take a good hard look at your business today, is it exactly what you want it to be? We would suggest that you focus on four key areas of business design. 1.  Designing your business lifestyle How much cash do you want to…

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The Death Grip of Managing Your Business (and How to Release It)

The Death Grip of Managing Your Business (and How to Release It)

Posted: April 5, 2017

Are you a business owner with no work life balance? Are you always at work? Thinking about work? Worrying about work? The fact is, that’s no way to live your life. It’s not healthy, and what’s more, it can have a detrimental impact on your business. Sooner or later you’ll physically and mentally burn out, leading to poor performance, lack of direction, and - in some cases - the complete destruction of everything you’ve worked…

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18 Value Drivers That Increase Your Business’ Value

18 Value Drivers That Increase Your Business’ Value

Posted: March 31, 2017

According to the annual Business Reference Guide written by Tom West, 70-80 percent of businesses do not sell.  One of the reasons this happens is because many business owners focus on current income generation as opposed to building the value of the enterprise.  Profit or income does not automatically translate to enterprise value. Enterprise value translates to the amount that business owners may realize when they sell or exit their business.  There are 18 value…

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Which Key Performance Indicators Should Your Business Be Monitoring?

Which Key Performance Indicators Should Your Business Be Monitoring?

Posted: March 22, 2017

When you get behind the wheel of your car, you’ll see a row of gauges on the dashboard that give advance warnings of potential problems with oil pressure, engine temperature and other measurements. These gauges enable you to spot signs of potential danger at a glance and take corrective action. Likewise, business owners should monitor gauges on their business dashboard that will give them a heads-up about financial problems down the road. These financial gauges…

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Get Ahead of the Pack by Improving Your Business Systems

Get Ahead of the Pack by Improving Your Business Systems

Posted: March 16, 2017

  All businesses have systems – both formal and informal. They make the wheels of your business turn. However, informal systems can keep your business wheels from turning smoothly when it comes to day-to-day operations such as closing sales and ultimately from easily selling or passing down your business to the next generation (succession planning). By creating and maintaining formal systems, you can avoid major issues and breakdowns within your business. These processes are comprised…

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Is Your Accounting System Giving You the Answers You Need?

Is Your Accounting System Giving You the Answers You Need?

Posted: March 9, 2017

In today’s Information Age, we expect granular numbers right away, However, often times many business’ accounting systems have limitations and can‘t deliver the kind of information that owners need, or the functionality has not been built in for the information to be tracked. In this post, we’ll show you why you need to make the switch to the new way of tracking, accessing, and using information to give you the answers you need. Choosing an…

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Small Improvements in Your Business Can Drive Big Results

Small Improvements in Your Business Can Drive Big Results

Posted: February 28, 2017

What’s the difference between water and steam? At 99 degrees water is merely hot, at 100 degrees it turns to steam and can move locomotives. Just one degree—a one per cent change—makes the difference. This is a great metaphor for business. In this short article we look at the impact that small improvements in the key drivers of profitability have on the bottom line. The key drivers of profitability are price, variable costs (those costs…

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Four Common Financial Mistakes Small Businesses Make (and How to Avoid Them)

Four Common Financial Mistakes Small Businesses Make (and How to Avoid Them)

Posted: February 24, 2017

Many small business owners are entrepreneurs who are passionate creators that had an idea for a product or service, but they don’t always possess financial acumen. As a result, some business owners make financial mistakes which can jeopardize their dreams. Here are four of the most common mistakes and how business owners can avoid them. 1. Failing to plan Few small businesses have a working budget and cash flow forecast which is rolled over on…

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WHY WHITTAKER?

There’s a difference between an “owner mindset” and a “manager mindset”. Those with an owner mindset are those we not only have experience working with: it’s who we really like. We see the changing tax landscape, the critical financial issues, and more.