Fire your Accountant & Hire a Partner

Will your small business survive? Answer these questions to know for sure.

Posted on 21 March 2010

Are you a start up? How about a struggling small business? If you can’t answer them, stop what you are doing and get the answers!  The answers are common sense. The issue is that most entrepreneurs don’t ask them.  Your survival may depend on answering them.

1. Have your total revenues gone up or down from last year?

2. Has your profitability gone up or down from last year?

3. Where is the next dollar coming from?

4. Are you tired of going to work?

5. Do you have adequate inventory levels?

6. How many employees report to you on a daily basis?

7. Do your employees actually do what you ask and expect of them?

8. Do you have a management team in place?

9. Is there business expenses you wish you didn’t have?

10. Does every employee in your company have a specific job function that justifies their labor burden?

11. Do you remember when owning your business was fun for you and your family?

12. Do you believe your company operates as smoothly and efficiently as it could?

13. Do you have a long-range plan?

14. Do your employees share your vision of the business?

15. Who do your employees go to when there is a problem?

16. If you actually met me, would you be able to tell me that your business doesn’t need to change, or that it is truly profitable?

The following is a question list from William Clements of Monopolyinsider.com – read his full article here.

Every large company answers these questions as part of their business practice.  They have built systems that bring structure to support the answers.  Large companies know that their survival depends on knowing these things.

If you are a small business, hire a consultant or coach to assist you in building structure and practices that keep you informed.  Small business and large business require the same information to succeed.

Act soon. Your small business survival may depend on it.

On your Team,

Mark

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