In my work with label company owners, I see owners who avoid making decisions about their business situation. In fact, some owners go to great lengths to sidestep the truth. Are you one of those owners?
Here’s an easy self test:
1. When was the last time you took a really good look at your month-end financials? (add 1 point for every month)
2. Have you had more than two consecutive unprofitable quarters in the last 3 years? (add 2 points if yes)
3. Have you discovered a financial issue in the last fiscal year that you have not yet resolved? (add 3 points if yes)
4. Have you lied to a family member or employee about money? (add 4 points for yes)
5. Have you fantasized about doing something drastic to change the course of your life or your business? (add 5 points if yes)
If you scored over 10 points, it’s time to sit down with your outside accountant for their honest assessment. Then schedule a meeting with your management team. Review current financials. Have every department manager report their current situation. Reserve comments and judgment so you continue to hear the truth. Call a qualified business adviser if you are ready to make a plan and commit to working on issues.
For 35 years, Rock LaManna has coached and advised owners on how to make business changes from a place of empowerment and knowledge. It’s never easy to change course or face unpleasant truths, but LaManna Alliance has the hands-on experience to keep you moving forward. Email Rock@RockLaManna.com to inquire about services or start a confidential discussion.