‘The secret of getting ahead is getting started.’ – Mark Twain
You are an ambitious business owner who wants to make a mark on the world.
You want to achieve your personal goals, whatever they may be.
In business, you want to achieve financial stability and take control over your business and your life.
You want to live a lifestyle that enables you to have more money in your pocket and more time to use it, in any way you choose.
But how do you do it?
Business is tougher than ever in today’s competitive world with more than sixty per cent of small businesses failing within the first three years, and seventy-five per cent failing within five years, according to the Australian Bureau of Statistics.
As a result, you need to be as strong as the concrete slab you lay when building. Just like when you’re constructing a building, your business needs to have a strong foundation. You need to have the right people working for you and with you to build your business and your lifestyle.
You face many challenges in your business and they all have an impact on your ability to earn the money to give you the lifestyle you want.
But this is easier said than done. How can you retain your rightful share of the money you earn? How can you effectively manage the cash flow requirements of your business so you can access money when required for development or investment? How can you access financial information in real-time to make informed business decisions? And how do you get your head around the difference between cash and profit; tax, GST, CGT; and ensure your business generates a return on your investment?
You need to understand and accept these challenges. You need to embrace them and face them head on. You can’t afford to bury your head in the sand. You also can’t afford to take shortcuts, and you can’t afford not to get the right people in to help.
Meeting these challenges is the key to the financial management of your business.
Money can be a beautiful thing and at the same time it can be a nightmare. With it, you can do so much. Without it, you feel helpless.
You need money in your building and property development business to invest in land and property. To acquire equipment and machinery. To pay for labour and resources. You also need to fund the project through to completion. Then, at the end of the project, you would definitely like to have some left over – the more, the better.
Without money, the project, no matter how big or small, will suffer. In the worst-case scenario, it won’t even get off the ground.
Your money needs to be managed correctly, right from the beginning. If your business is not structured right so it suits your particular situation, then you are destined to lose money from day one. The wrong structure will mean that, even after all your hard work building and developing, you will give up to half of your profits to the government. I don’t think you want that to happen. Do you?
Worse still, without the right structure and foundation for your business, all your personal assets will be at risk should something go wrong. Many unforeseen circumstances arise and you could be exposed and potentially lose it all.
Build it and the money will come
In this book I will teach you how you can better financially manage your business so that you have more money in your pocket to fund the lifestyle you want.
You can achieve this by following five simple steps:
Strategy: The first step in any journey is deciding where you want to go. In the first step of my framework, you’ll create a strategic plan by assessing where you are now, deciding where you want to go, and charting the most efficient course between the two.
Structure: The right structure can save time, money and heartache. The wrong structure, on the other hand, can make your business far more expensive and complicated than it needs to be. Structure is an essential piece of achieving your strategic goals, so in this step I’ll outline what you need to consider when it comes to choosing the right structure for you.
Statutory: Are you aware (and on top of) all of the obligations you have to the Australian Taxation Office (ATO), Australian Securities and Investment Commission (ASIC), State Revenue Office (SRO), Land Titles Office, WorkCover Authority, your superannuation provider and your bank? This is a major stumbling block where businesses in building and property development can unwittingly subject themselves to fines and liability. In this chapter I’ll cover the main obligations you need to be aware of as an ambitious business owner.
Systems: If you are trying to manage everything by yourself on an ad hoc basis, not only is this inefficient, but you run the risk of not meeting your statutory obligations. In this step I’ll share the main money management systems your business will need to stay on top of your obligations, while moving towards your strategic goals.
Support: As an ambitious business owner, you probably try to do it all. After all, it’s your business – you want to make sure everything’s running as it should be. The problem is that this isn’t sustainable – you can’t be all things to all people, and you can’t do everything at the high standards you’d like. This is why support is essential. In this chapter I’ll teach you how to find the right support team to help you implement the first four steps of the framework, while pushing your business on to bigger and better things.
In these five steps, you will find all the tools you need to grow a financially rewarding, tax-efficient, lifestyle business.
Who am I?
My name is Tony. I am a Certified Practising Accountant (CPA) and have successfully run my accounting practice, AD Partners, for over fifteen years. We are based in Melbourne; however, we have worked with many businesses across Australia.
As an ambitious business owner myself, I very clearly understand the challenges you face as I have experienced some of them myself. I know how it feels when payroll’s due, but you’re still waiting for a big payment to come in. I’ve had the difficult conversations with staff members about not delivering work on time, or to the standards we need. And I get what it’s like to feel like you’re on your own, and like you have to do it all yourself. The pressure you put yourself under by thinking that way is enormous. It doesn’t have to be that way, In fact, it most definitely should not be that way. By putting in place the right systems, you can relieve yourself of all that pressure because the right systems will deliver the right results. I will give you the tools to achieve this later in the book.
I have the financial qualifications and experience having worked with over a thousand business owners across a wide range of industries, including building and construction, property development, hospitality, retail, manufacturing, automotive, IT, health, finance and transport, just to name a few. While there are differences between those industries, there are also many similarities that the business owners within those industries experience.
In short, I am best known for offering my ambitious business owners a complete financial solution. After working with me, my clients feel comfortable, assured and positive about the future.
My vision is for every business owner to achieve financial freedom – the ability to have the money they desire and the time to use it any way they choose.
This book will help you achieve that vision.
Keep it simple, stupid
It can be easy to overcomplicate things, especially when it comes to the financial and regulatory aspects of business.
I find that, in most circumstances, the KISS (Keep It Simple, Stupid) philosophy is the best strategy. Consequently, Build it and the money will come aims to keep things simple, so you can get a bird’s eye view of your business to figure out what’s working, what isn’t, and how you can improve to achieve even greater levels of success.
While more complex thinking and strategy may be required at times, the more I can simplify matters for you, the better you’ll understand and the better placed you will be to move forward and grow.
Contact us if you would like to meet the Author for a free 30 minute consultation and a signed copy of the book.
http://adpartners.com.au/wp-content/uploads/2017/08/logo.png00Tony Dimitriadishttp://adpartners.com.au/wp-content/uploads/2017/08/logo.pngTony Dimitriadis2018-02-17 04:52:362018-02-17 04:52:36Introduction - Build It and The Money Will Come
Established in 2001, AD Partners is a boutique public practice Accountancy and Business Consulting firm situated in heart of Carlton, Melbourne.
We service all areas of Melbourne, and offer personalised service to business owners no matter how big or small.