March 2012 Intermediary A-Musing
Anything is Possible, Not Probable: In Business. In Finance.
Any business managing to track a path throughout the last few years and get to now, which is the majority of small or micro business (and includes new entry), should be very proud.
What next, what’s the future of your business?
Why should you want to think about future business, you enjoy a peaceful life and don’t want to rock any boats, besides you understand your business sufficiently to distinguish between its needs and wants, you’re experienced sufficiently to adapt to market changes and who needs to grow when you’re paying your way? With a density of access to information and resources available it’s understandable that we think we can do it all.
Business Boss Budget Balance
Operating a business is the same as operating personal cash flow, even the translation of controlling expectations is the same; anything is possible, not probable. The powerful effect of operating within your means effects the decisions you are able to make for the future of your business.
Disappointment for the small / micro business which can’t react to change means restrictive growth becomes further squashed by the increasing frustrations which pile higher to outweigh any allowances for change. Keeping the balance is something that only those leading and managing the business have the power to change.
No credit running through the business, ultimately means, no business, yet, talking with some business owners, their resounding areas of commonality are perceived as a lack of customers and reduced profits. No allowance has been made for any changes to their business model, either imposed or self generated yet few businesses can survive with such an attitude. Any ‘personal’ financial support does what it says on the tin therefore needs to be carefully planned to be maintained as a sustained budget balance.
What you offer your customers; what you enjoy doing, are good at doing and want to do, might not be those customers understanding of what you do. What your customers want; understand that you don’t offer and don’t use you for, might be the misunderstanding of what you do.
Reality check; the majority of markets, whether shrinking or expanding, have customers who eschew most things that don’t have convenience attached. Any business clinging to old school has to fuse something to their business to ensure that it remains strong enough to move forward, or, have the value for a strong sale. It’s understandable to hear some businesses say they need more customers but that’s not the problem. Without the customers, there can’t be any more resources and without the resources customers are unlikely to be retained, replaced or grow.
To move forward, business owners need to distinguish between
- Rocking the business boat and the business boat being rocked
- The businesses needs and personal wants
- Current reality and future reality
Because in business, as in life, anything is possible, not probable….. especially if the financial balance allows for change.
(Image credit: chrisj_moore Article credit: Copyright SUF)