PLANNING GROWS YOUR FINANCIAL FUTURE
I love creating plans that I can implement now, that will grow in time to help build my future. It’s exciting and something to look forward to.
As a small business owner, creating a vision of your financial future will give you motivation to draw in new business and increase your profits. To demonstrate this, we have two examples. Philip*; owns a small, but profitable engineering business, however he doesn’t have a financial plan. While he earns a fair amount of profit each month, the money seems to slip through his fingers and by the end of the financial year, he has less than he thought to show for his last year of hard work.
Now, Teresa*, who owns a small hairdressing business, has created a financial plan, which she reviews every year. In this plan, she details her actual profits for each month, and can track where the highs and lows are. Teresa then ensures the profit from the higher turn-over months cover the slower months. In addition, Teresa wants to add a sales person to the team; she therefore adds this additional salary and subsequent costs to her plan. Teresa discovers that after saving a year of her profits she can then afford to hire the sales person. Plus, with the additional revenue forecasted from the hire of the sales person, Teresa can then restructure her financial plan and consider other profit boosting ideas down the track.
A financial planner can help you think outside the box to look at the bigger picture of your finances but more importantly how you can make them grow to improve your business and lifestyle. Planning, does not have to be complicated, rather the opposite, it can be a fun brainstorm session where you get to really think about your dreams and then make goals along the way to turn your dreams into reality.
It’s not all about the dreaming process though; you need to know how to turn your dreams in to a workable plan. At Aperio Financial Services, we speak with many small businesses each day and can assist you to get your current financial picture to the result you dream about.
Don’t know where to start? Contact Aperio Financial Solutions on (03) 9230 1500 or email email@example.com .
*Example scenario were created to help you visualise the possible difference between not having a financial plan in place.