You own your business for a number of reasons. These no doubt include:

• Providing for your family
• Being your own boss
• Making money
• Having flexibility
• Building equity

To help identify what really matters to you, complete the following questionnaire:

On a scale of 1 to 10 (where 10 is very important), how important are the following to you?

Issue Importance
1. Increasing sales to existing customers
2. Getting new customers
3. Expanding your range of products and services
4. Improving quality and service
5. Reducing your costs
6. Energising your team members
7. Having a written strategic plan
8. Having a detailed budget
9. Getting accurate and regular reporting of budget to actuals
10. Knowing and tracking your Key Performance Indicators
11. Improving cash management
12. Reducing debt
13. Knowing how you’re doing compared to others in your industry
14. Having a succession plan or exit strategy
15. Using new technology to improve productivity
16. Having everyone follow uniform systems for all processes
17. Having greater flexibility with work hours
18. Taking more time off
19. Funding your retirement
20. Protecting your family against your death or disability
21. Funding your children’s education
22. Protecting your business with funded cross-purchase agreements
23. Building your personal wealth

Once you’ve completed this questionnaire, you should be in a position to prioritise your personal objectives and set actions for business improvement. The most profitable small businesses all have one thing in common:

The owners’ personal objectives are congruent with their business strategies


Leave a comment

Filed under Accountancy & Tax Stuff, Business advice, Marketing

Leave a Reply

Please log in using one of these methods to post your comment: Logo

You are commenting using your account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )


Connecting to %s