If you want a bit more insight then I’m going to tell you my story. You see you are not alone. There have been thousands of people before and there will be thousands of people after you. Business is easy right? Yeah…..Nope.
Sell something, goods or services, for more than it costs and make a profit. Then of course there is all the “stuff” that goes with that. Tax, Bookkeeping, Employment, Suppliers, Sales and Marketing, Finance, Premises, OH&S, Banking, Customers, Staff…..I could write pages and pages of all the “Stuff” that goes into making a business – but you know all this because you’re one of those crazy people in business and you’re juggling it all.
A few years ago I was sitting with my family at the beach. My kids were swimming and playing around the rock pools and my wife was quietly watching them. This should have been a wonderful day. I’d worked really hard to build a business that would support my family and give me the freedom to enjoy a day at the beach with my family.
I was staring out over the waves and looking at the horizon feeling completely numb. I had reached a point where I didn’t know what I was going to do. You see that day was the day after Boxing Day. Before Christmas I had discovered how much my BAS was going to be and I had no idea how I was going to pay it. Cash Flow was tight enough without this massive Tax bill coming.
My wife started shouting at me, trying to get attention. She had started talking to me softly but I was in a daze, she slowly got louder and louder trying to get my attention but I wasn’t responding. She shook my shoulder and called my name, I snapped out of the daze and turned to face her and I couldn’t speak, the tears rolled down my cheeks.
I felt sick to my stomach and I couldn’t pretend anymore. I was putting on a brave face over the Christmas period trying to protect my family from the stress. I thought I was faking it well but my wife and kids will tell you otherwise. My wife will tell you she lost her husband months ago to the stress, I was coming home beaten, shoulders slumped and completely preoccupied. I was no fun to be around. I would numb the pain with a few beers and fall asleep for a few hours only to awake in the middle of the night with anxiety, I’d lay awake wishing the night away thinking of all the things I had to do, then I would head off to work before the kids awoke and try and do something to recover the business.
My business had grown quickly and we had offices around the country with national clients, we were turning over millions of dollars, we’d won awards, I had employed a great team of people who all supposed to be good at their jobs, we had happy customers and we were making a profit but still I had this sense of looming doom. I soon learnt that profit is a matter of opinion and cash is a matter of fact and I was running out of cash.
That day sitting on the beach I realised that I needed help. If you have started a business it’s because you’re someone who gets things done, you’re generally confident and competent. It was hard to admit I couldn’t do this on my own. But as soon as I got the right help it all started to change, for the better.
When you’re so close to the problem sometimes you can’t see the solution right in front of you. We all know the best tennis players in the world have someone watching and coaching them. The business operators have experts supporting them. Once I got the right support and help I started to see things clearly and I started to make the right decisions again.
The last Christmas just gone was completely different. My kids got their dad back, I was happy and relaxed. I had no stress, no numbness, no sick feeling, no sleepless nights. I spent a few weeks relaxing with my family with time away on our boat cruising without a care in the world. The business was completely transformed and my life with it.
I was able to achieve my business recovery with the right team. Not my accountant at the time and not my solicitor, they were too close to me and too close to the business to be objective and they didn’t have the specific skills I needed. It was through the right team giving me the right advice.
This quick diagnostic will give you an objective score of what state your business is in and you’ll receive the Business Recovery Guide. It is never as bad as it seems and it is never as good as it appears.