Are you running a business or just creating another job for yourself?
There’s this old saying about business owners giving up a cushy 40-hour-per-week job to grind away for 100 hours a week, earning less. It’s a cliché that, unfortunately, hits home for too many. But here at Sphere, we challenge this notion. Why settle for survival when you can aim for the stars?
So many business owners wear ‘busy’ as a badge of honour. It’s as if being swamped is the hallmark of a true entrepreneur. But let’s get real: being perpetually busy isn’t a success badge; it’s a red flag that your business might be running you instead of the other way around.
The budgeting trap
The typical budgeting method many businesses get stuck in as a method of survival includes:
- Calculating living and business operating costs.
- Aiming to earn just enough to cover these expenses.
- Setting minimal monthly earning targets.
- Avoid setting higher goals due to fear of failure.
Does this sound familiar? Unfortunately, it’s a widespread defensive play that safeguards against disappointment. But it’s also a fast track to stagnation.
The blueprint for success
Contrast that with how the truly successful set their sights:
- Envision your retirement lifestyle – the possessions, the travels, the legacy.
- Determine the necessary nest egg for a comfortable life from 60 to 80.
- Set your market dominance goals.
- Calculate the profit needed from a future business sale.
- Develop a revenue strategy to achieve these aspirations.
- Break down the strategy into actionable steps – market leads, conversion rates, and sales cycles.
We’re about understanding which numbers matter and when. That’s why we insist on quarterly management reports for our clients, ideally monthly or bi-monthly. We’re committed to keeping you out of the daily grind and focused on the bigger picture.
We believe in proactive meetings, not just to hold you accountable but to empower you with clarity and vision. It’s about making smart decisions before you hit a bump, not after. We’re about parking the ambulance in the garage, so to speak, and keeping it there.
Our mission is to ensure that your business isn’t just a job that barely pays the bills. We want to transform it into a thriving enterprise that exceeds your wildest dreams.
Expert Business and Tax Advisors: We work for YOU, not the ATO!
About Sphere Accounting & Advisors-
At Sphere Accountants and Advisors, we’re more than just accountants. We’re protectors of your wealth, steadfast in our commitment to keep as much of your money in your hands as legally possible. Remember, we always work for you, not the ATO. Our mission is to shield your finances, mitigating any undue claims.
When you seek advice from our tax advisor, you’re not just getting a service; you’re partnering with a team. We take into consideration the complete picture and are always on the lookout for ways to enhance your financial position, enabling you to create, safeguard, and grow your wealth. This commitment holds, whether you approach us as an individual or a business entity.
Our expertise isn’t confined to just taxation. We span across the realms of accounting, strategic planning, and beyond, delivering a whole solution for all your financial needs. With Sphere Accountants and Advisors, you gain a dependable ally in navigating the complex financial landscape.
For more information, please visit our website, give us a call at (03) 8899 6399, or drop us an email. We look forward to assisting you on your financial journey.