Pro Active Guidance

By Birch Accounting & Tax Services Ltd. |

A Comprehensive Guide To Pro Active Guidance - Blog by Birch Accounting and Tax Services Ltd.

If you don’t take control of your business it will control you.

Much has been written about the differences of working IN your business vs working ON your business. Every time we dive into this subject we inevitably find that business owners who work ON their business are able to PROACTIVELY grow their business the benefits of which include:

- Control over their schedule
- Earning strong margins
- Funds available for professionals and administrators who can take care of business management responsibilities
- Enjoying the life they dreamed of when they first started their business

On the other hand those who work IN their business seem stuck in the weeds. They continuously run into challenges that include:

- Working long hours with lack of control of their schedule
- Doing billable work themselves that could be performed by trained staff
- Trying to wear all hats as they can’t afford to hire a team to assist with business management responsibilities
- Struggling to earn a profit even while paying themselves only a minimal wage.

What this really comes down to is this: Are you in control of your business? Or is your business in control of you?

So what does taking control of your business really mean. From my experience taking control means making critical PROACTIVE decisions today that are informed by current and relevant information and GUIDED by PROFESSIONALS who have experience helping similar businesses!

The only way to obtain current and relevant information is to implement an accounting system that is always current and to PROACTIVELY look at the results of that information!

How to Get Started
1) Stop thinking of bookkeeping as ‘an expense required to prepare my taxes’

2) Start thinking of bookkeeping as ‘an investment that will provide me with a competitive advantage’

3) Ensure financial reports are prepared monthly within 4 weeks of the month end

4) Review monthly financial reports with your trusted professionals
a. Look for trends in gross profit percentage (TIP: this should inform your pricing decisions)
b. Look for trends in large expense areas (in absolute dollars and as a percentage of revenue)
c. Look for exceptions, things out of the ordinary
d. Consider this information when making strategic investment decisions

To learn more about how PRO ACTIVE GUIDANCE works to eradicate financial stress and help business owners achieve their the life they dreamed of when they first started their business reach out through our website. We’d love to hear from you.

Stay tuned next weeks as we wrap up with the remaining 2 topics in our series.


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Learn how Pro Active Guidance eradicate financial stress and help business owners.