It’s around this time of the year when business owners, entrepreneurs and the like, start having a much closer look at their numbers for the 2019 tax year. You may hand these over to your bookkeeper or your accountant to do the necessary reconciling and filing of your tax return, without a second thought.
But generally, I’ve found that tax time is not something people look forward to because there may be many questions you have, but are too afraid to ask. You see the reality depicted in your numbers is something that can be quite confronting. The truth behind the numbers is your reality.
But it’s the reality of those figures that actually spurs you into action!
The thing is, who to you discuss this with? It’s rare for you to chat with your accountant about your plans -of course the good ones do- and your book keeper will egg you on to “do something” about your business strategy if your numbers could be better. Or much better!
You could decide that change is too difficult and things may just be too hard. So, nah, let’s keep rolling as we do now!
There are a few choices though, depending on your outlook.
- There’s awareness. I know if I don’t do this (make the changes in my business that I need to), the business will be impacted and my profit will drop.
- Acceptance is deciding what to do about things. I accept that for me to grow my business, I must free up my time and empower my team.
- Action is best! The action I will take is to get my Business Plan in order so I can keep on track this year.
- What about accountability? Who’s going to o keep me on track? I need someone independent to hold me to account or it just won’t happen.
- Acknowledgement. I have some bad habits to break – I need to give myself and my team positive reinforcement when the changes are actioned. And I may need some outside help to do this too!
So perhaps, now’s the time to ask, What are my numbers? Wouldn’t it worth while getting clarity on the year ahead? How could I ensure that I’m performing at my best in 2020?
Give us a call!