Financial arrangements causing stress for you and your business?
Believe it or not, just a SMALL amount of fine-tuning can make a BIG difference and do away with anxiety once and for all. Read this story to find out how: Paul and Sue Jackson formed their automotive painting business some 15 or so years ago. Based in Auckland, they had built their business from a start-up operation to a successful and profitable organisation.
Believe it or not, just a SMALL amount of fine-tuning can make a BIG difference and do away with anxiety once and for all. Read this story to find out how:
Paul and Sue Jackson formed their automotive painting business some 15 or so years ago. Based in Auckland, they had built their business from a start-up operation to a successful and profitable organisation.
In spite of this, they kept coming up against some of the most common issues small business owners face, and were frustrated by their inability to move passed these problems and “felt like we were spiraling down to nowhere”.
It was all hard work
As the person with sole responsibility for running the business, Paul was feeling alone. Although Sue was anxious to support Paul in whatever way possible, she didn’t really know how or where to begin. Added to this was the constant anxiety of juggling cashflow and the uncertainty of income.
It had all become hardwork, worry and constant pressure to keep their heads above water. There was no fun in the business any longer, and the strain had begun to spill into other areas as well. Paul and Sue were struggling to put the business to one side and enjoy time-out with their young family.
Feeling disheartened and slightly overwhelmed, Sue & Paul sought specialist advice to help them jump the brick wall they seemed to have come up against.
Minimising the stress
Paul and Sue were looking to minimise the stress levels in their business. Getting some certainty into their cashflow and ramping up new business generation would go along way to satisfying that desire.
With a bit of help, Paul and Sue were able to establish simple and easily administered cashflow spreadsheets. They were also able to restructure the company’s financial resources so that they were no longer dependent on, or under the control of, the banks “we no longer feel the banks have power over our business”.
Sue has cashflow forecasts in place so that at any given time she is able to see exactly what money is due to come in and what’s due to go out – “I’m like a pig in mud with the spreadsheets”. Nasty surprises in their cashflow have been virtually eliminiated. Stress levels are down … way down.
Paul is now more relaxed in the business – enjoying it and feeling confident of its future success. New business is coming in constantly – most of it at sustainable levels, with an increase in the company’s monthly earnings of over 26%.
The work environment is now much more settled and the staff are happier and feel more secure. Production has improved also.
Although these are some pretty remarkable results, what makes the real difference in Paul and Sue’s lives is the disappearance of stress and worry. They are now able to leave the business where it belongs and enjoy the time they spend with their family. This must be the best outcome of all!