How Fabulous Are You?

Every business is different, but here are powerful time-tested tactics
that can be applied to any business that wants to become Great!


 

Wanting your ordinary business to be Fabulous? check out Our Fabulous 5!

Proactive Management Systems


If your dream is to build a great business, it all starts with measuring your financial and non-financial key performance indicators. For this you need to know where you are today and the relevant KPI’s for your business.

Ask yourself these questions:
  • Do I have accounting systems in place and current accurate financial statements?
  • Do I understand the financial statements and what they are telling me about my business?
  • Do I know what areas of my business I need to target in order to grow?
  • Do I have dashboards, accountabilities, and monitoring systems in place?

Growth


What are the dreams and goals for growing your business? If your dream is to someday have enough money so you can financially retire, you need to write down your goals and review them regularly.

Ask yourself these questions:
  • Do I have a strategy map for my business?
  • What is my “BHAG”?  What is my “Big Hairy Audacious Goal?”
  • Do I regularly look at my actual results compared to my goals and make adjustments where necessary?
  • Do I have an accountability coach who will hold me to the actions I’ve committed to taking?

Cash Flow


If your dream is to build a great business, you need cash, and you should understand where your cash is going.

Ask yourself these questions:
  • Do I have a cash flow forecast and a budget that is regularly updated?
  • Do I know how much cash I have available to spend, or do I just track cash and profit by looking at my bank balance?
  • Do I know the revenue and profit margin on each of my jobs or product lines?
  • Do I understand where all the cash in my business is going?

Profit Improvement


If your dream is to build a great business, you should understand the key drivers of profit in your business.

Ask yourself these questions:
  • Do I know how to identify the key drivers of my profits?
  • Do I know my profit margin?
  • Do I have systems in place to measure the costs of every job?
  • How does my profit margin compare to industry benchmarks?

Tax minimization


Our tax preparation and tax planning service makes it easy, and you don’t even have to understand it! The best news is you can be confident that you are paying the least amount of taxes legally possible and minimizing the risk of an IRS audit.

Ask yourself these questions:
  • Do I have a good idea how much my tax will be in April?
  • Have I been making my estimated tax payments
  • Have I ever been surprised by how much taxes I owe on April 15th?
  • Do I have a tax professional who is actively planning ways to minimize my taxes all year long?

If your dream is to build a great business, make sure you have a professional CPA helping you with timely tax advice and tax planning.

Need help becoming more Fabulous?

Book an appointment today. Give us a call at 972-446-1040 or contact us below!