Dream of A Designer
Janet started her interior design business three years ago with a promising vision. The designer planned to work three days a week and help families achieve the home of their dreams by offering her creativity.
As happens often with small business owners, the reality didn’t quite pan out as Janet had hoped. Instead of working three days a week, she found herself balancing a 70 hour work week while looking after her three children.
Janet wanted to reduce her workload and achieve balance.
At the end of the year, Janet met with her CPA to review her accounts and tax position. Yes, she was profitable and had cash in the bank, but she confided that she was becoming more and more unhappy with the business. She even said she thought about selling it.
The CPA took her client through a discussion to align her business and personal goals. Together, they discovered that:
- Janet’s main motivation was to make enough money so that she could spend time with her children
- She had taken on all comers and felt obliged to squeeze in more and more clients
- Her brand in the marketplace was premium, but her pricing did not reflect that
- By running the numbers, they found out that 23% of Janet’s clients had contributed 82% of her profit the previous year.
Following the session, Janet agreed to work with her CPA redesigning the business to suit her lifestyle goals, by starting with the numbers.
Not surprisingly, revenue jumped significantly as a result of understanding the numbers. But more importantly, within 12 months, Janet had her life back.
Looking for ways to plan your business so they align with your goals? Williams & Kunkel can help you. Call us today in Flower Mound at 972-446-1040 to have a chat.
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Source: Panalitix