The three tools to regain control of your business
Many small business owners tell us they never set out to grow a massive company - they simply wanted more control over their business and their life. Yet, too often, the business ends up running them instead of the other way around.
Here’s the truth: your business exists to serve you, not the other way around. And if you feel like you’ve lost control, the good news is you can take it back.
At GoAccounting, your trusted Nelson accountants and small business advisors, we help business owners regain control using what we call the Business Success Trifecta - three essential tools every successful business needs:
An annual business plan
An annual forecast
Ongoing reporting and accountability
1. Annual business plan – your roadmap for success
Your annual business plan doesn’t need to be a lengthy document. In fact, the most effective plans are just one page (two if absolutely necessary).
This plan is your opportunity to clearly define what you want from your business — including your income, working hours, and time off. With guidance from an experienced advisor or coach, you can identify:
Vulnerabilities you need to manage
Opportunities you want to capture
Up to four key goals to focus on this year
From there, you’ll break those goals into actionable 90-day milestones, making it much easier to stay on track and measure progress.
2. Annual forecast - master your cash flow
Once your plan is set, the next step is your annual financial forecast - a vital part of effective small business accounting.
Your forecast maps out how money will flow through your business during the year, ensuring you can achieve your goals while avoiding surprises. Too many owners treat forecasts as a “tick-the-box” exercise for the bank, but that misses the point.
Banks request forecasts because they want you to succeed - and so do we. A strong forecast highlights potential cash flow challenges before they happen and shows exactly how to manage your finances to reach your goals.
3. Ongoing reporting & accountability - implementation is everything
Even the best plan and forecast are useless without action. The key to turning your vision into reality is accountability.
That’s why every business owner needs a coach. A skilled coach works alongside you, combining your expertise with theirs to deliver better results than you could achieve alone. They help uncover the root causes of business challenges, keep you focused, and most importantly - ensure the important things actually get done.
Ee provide ongoing reporting and accountability as part of our small business accounting services, helping you make informed decisions and stay aligned with your goals all year long.
Take back control of your business
There are no magic shortcuts - all successful businesses rely on these three tools. If you’re ready to stop being a slave to your business and start running it on your terms, we’re here to help.
As experienced Nelson accountants, we specialise in helping local business owners like you implement the Business Success Trifecta so you can achieve more income, more freedom, and more control.
Ready to regain control?
Contact us today to find out how our small business accounting services can help you build the business - and the lifestyle - you want.