Weekly Business Idea

June 30, 2017 – Declare Your Independence

Posted on | June 30, 2017 | No Comments

Main Idea:

Do you freely go to work every day with a smile on your face?  Do you love what you do?  Or, do you feel constrained by your situation?  Do you feel like you are a prisoner?

Expansion of the Idea:

I have been recently doing a lot of work on cash flow planning.  I am using a piece of software that is really great and helps me do this efficiently for business planning.  I was planning on using the software for some individual planning.  The problem arose when the software was giving me a false error message for a particular fact pattern.  I have gone back and forth with the software support people and we are still trying to resolve this.  The real issue is that I was trying to finalize a cash flow and tax plan for a client.  I was starting to feel stuck, as if I had no options.  I needed to finish the project but, based on my current systems, I really couldn’t.  This isn’t a good place to be.

I finally decided that I could not be in a place where I had no options.  Even though it was going to take time, I created my own planning file for individuals and their personal planning.  As I started doing it, I realized that I could customize it and create a better outcome than what I was previously going to have.  It was a lot of hard work but I feel much better and I can deliver the project.

Small business owners typically go into business to create more freedom in their lives.  They are energized by getting control of the business.  However, it quickly turns into something completely different.  Most small business owners feel stuck at some point in our careers.  In fact, most of us feel stuck quite frequently.  Our success at identifying the problem early normally determines our long-term success in our business.  Areas that we can feel stuck are:

  • Finances
  • Team members
  • Vendors
  • Customers
  • Systems
  • Economy
  • Advisors
  • Personal situation, including personal finances

When we start to feel a prisoner of our situation, our passion for our work goes away.  We tend to retreat and just accept life as it happens.  We don’t ask others for help because we don’t think the situation can be helped.  We can lose the ability to think creatively and plan for the future.  This can spiral into a real problem if you let it.

As we are approaching July 4, give some thought about what you need to obtain independence from.  If a customer is holding you hostage in a bad situation, brainstorm how to fix the problem, including firing the customer.  If your finances are a problem, take more control and develop a plan for improving them.  There normally aren’t any easy answers.  However, getting the right mindset can make all the difference.  If you can make decisions with a mindset that you are in control of your life, your decisions are completely different than if you are a prisoner in your situation.  When you really address issues in your business and life, you will find more alternatives than you thought possible.  The result will be an improved business and a renewed passion.

I hope you have a great and safe 4th of July.

Places to Start:

  1. Make a list of any problem areas in your business.
  2. Rank the list in order of severity.
  3. Have your team make a list and ranking also.
  4. Discuss the list with your team to see if there are common links and causes.
  5. Decide on one thing to work on that will improve your business.
  6. Go do it.

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  • About

    These weekly ideas are brought to you by FitzGerald & FitzGerald P.C. For more information about how to use these ideas with your small business contact Tim FitzGerald at trfitz@fitz-net.com.