Transforming your business is not something that can not be accomplished alone. It is a resource-intensive process; perhaps the most critical resource is thinking! You will need someone to talk to with a detached, experienced, and thoughtful perspective on what you are trying to do.
You can try to add more clients and pick up more work, but nothing adds money to your bottom line like a shift in strategy. A strategic adjustment is the only way to next-level your business.
If you don’t measure it, you can’t manage it. Good financial reporting is a fundamental basis for not only measuring your performance but also for gauging the success of your strategic adjustments. Don’t you need to know what your money is doing? Nobody gets rich without good financial reporting.
Red tape is like weeds. If you don’t stay on it, it can choke healthy growth. Keeping an updated healthy relationship with your taxing agencies and licensing bureaus is critical to business success as well as inner peace.
Why are you in business? Don’t you want to see your personal bank account grow? Do you have an exit plan to finance your post-business life? We can’t lose sight that business is business and it exists to fund our personal life.
Most growing businesses have multiple entities and one-off projects. Some of these one-time efforts are critical to the overall success of the routine and deliberate business processes that help them increase revenue.
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