The Bottom Line is YOUR Success
Money, Money, Money, Money. That is the bottom line. Profitability is the sole purpose of operating a “for profit” business. If that’s true, why is it that so few business owners actually operate on a budget? How can you plan for success without a plan?
For a business, a budget outlines its profit plan for a specific period of time. Without proper budget management, you position your business for nothing specific. We achieve in business no more than we plan to achieve. When we plan for nothing, we cannot be disappointed when we get nothing.
Allow us to show you the importance of a budget; how to develop a working budget; and how to begin to plan for specific degrees of success. We analyze, organize and offer oversight of costs and expenditures in preparation for success.
There are 3 primary areas of management that we offer in assisting you in this process:
We will assist you with the development of a spending plan to ensure that your vision for the business is feasible. If not, we will help you determine what is feasible for today until financial resources are increased to do more. Without a plan, a business cannot be expected to ensure the availability of enough funds for what the business needs and for the things that are important to its success.
The planning process keeps a business out of debt or gradually moves a business that is in debt into a position of profitability.
Now that you’re on track with a plan for profitability, it's time to learn how to effectively monitor and track your performance. Determining the specific tools that may be needed to make the best decisions about income and expenses (and thereby profitability) becomes critical to your success.
In other words, now that you have a plan for what you want the bottom line of the business to be, will your actions get you there? What actions will you need to implement within the confines of your financial resources to reach your established financial goals?
These questions and others will need to be answered or you will risk your plan being nullified because a plan without proper action is worth nothing more than the paper it is written on.
III. Scope Management
Now we have a plan and action items directed at moving the business to the goal line. But economics teaches us that there is ALWAYS the unexpected. So how do you manage the unforeseen? Guess what? We can help.
Even though you can’t know what you don’t know and you can’t ever know every challenge that you might face, there is still a way to develop a plan for those things that you cannot foresee. Besides, it is better to have insurance and not need it than to need insurance and not have it.
Scope Management is like an insurance policy for your business. Scope creep can completely blow the budget established for a business. So, managing the scope of your business is your insurance policy.
We want to make sure that you don’t allow your diligence throughout the planning process to be undermined by a runaway budget.
Money, money, money, money is right. We made a lot of it but we had nothing to show for it and we were working much too hard with no security for our future. Not only did KAI come in and help us stop the bleeding in our finances, plan better and thereby execute our business practices better; but they also set us up for retirement. I cannot say how much pressure has been lifted off our shoulders realizing that we could afford to secure our future and enjoy our business once again. The money was there, we simply needed to be shown how to make the right plan for our business and operate within that plan. Thanks KAI.
- C. Castrovinci