How does it happen? One day we need extra funds to either start a business or inject more cash into one we already have “hoping” that this will fix the issue we have with our business.
It all seems good at the time however what we don’t realise is that our issues good be much deeper and more ingrained.
So, what does that mean?
If we were to keep doing what we’ve always done, there would possibly come a time when we would need more money or a further injection of cash.
What might front end problems look like?
- Our forward orders are too low hence having no work in the system or dragging orders forward to keep cashflow buoyant.
- It takes to long to supply an order, this can have a severe impact on cashflow and just by speeding up production, where possible, could make a difference.
- Not enough opportunity coming in to sell our goods and services.
- Getting opportunity however not selling our goods and services, so conversions are low.
- Not making the required sustainable margin to stay profitable, sometimes we may cut our price and not hold value just to get a job. This will eventually lead to bad habits and erode margin. Bad habits are hard to break.
- Follow up of opportunity we have quoted and not sold, not been able to get in touch with or haven’t even seen yet is the worst cardinal sin we can make in business.
These are just a few reasons why you may not be driving revenue…..that’s profitable and consistent.
So how do we fix it?
The first thing we want is your family home away from the business so its separate of course meaning that should the business get in trouble then if it did fall over, then the family home may not necessarily go with it.
We work with one of Adelaide’s premier Insolvency firms to assist you with your financial structure, and you know the best bit, this is free for the first appointment no matter how long it takes.
Insolvency accountants might seem to be the bad boys as they generally wind business up and close them however there are many instances where they restructure a business and set it off on its way again.
THE KEY IS TO GET SMARTBIZ GROUP INVOLVED FIRST!
DON’T LEAVE IT TILL ITS TOO LATE.
After your first initial free appointment, the goal is then to report to you where your business is financially and to assist you manage that process so that we minimise any further risk. If its able to be restructured we then work on a strategy to enhance your front-end revenue and drive opportunity into your business, profitably and consistently.
Getting your family home away from the business will ease pressure on you, your family and your business so that you can focus on what’s important to you.
So, the first step:
Give SmartBiz Group a call, we will do the rest for you…Imagine that…we do the rest…..