3 Financial Drivers For Your Next Big Move

As the owner of a successful business, you’ve proven that you have the unique ability to identify opportunities and use your competitive edge to potentially to turn them into prosperity.  You’ve turned an idea into a finely tuned profit-making machine, right?

A Couple Of Questions
  • Are you getting enough out of your business to achieve your big audacious dreams?
  • Are you leveraging your financials and unique strengths to make the most of your next big move?
If Not, Why?

Being a business owner means your financial landscape is more complex than the average W-2 wage earner, for sure.  Each piece of your strategy and process has implications for the rest, and you have to keep the whole picture in mind at all times.

Does your head hurt yet?  Read on…

In its simplest form, there are three basic principles that business owners should keep at the forefront at all times:

  1. Business Fundamentals – This is the framework where proper planning and strategy is crafted in order to ensure that your business is solid and ready. Ready for what, you ask?  Ready for operations, growth, hiring your way out of a job (yes, replacing you!), acquiring a competitor, preparing to exit your business.
  2. Cash Flow Strategy – How will you fund your business? Fuel its growth? Are your business financials organized, accurate? Or are your business financials a mess?  In order to succeed, business owners must have certain processes and procedures in place to ensure that the business remains healthy and that cash flow remains robust.  A business owner needs his/her finger on the pulse of their business at ALL times.  That is not an easy task.
  3.  Personal Financial Strategy – As a business owner, your business makes up a large chunk of your assets. As such, it is important to plan for your current and future needs on a tax efficient basis as soon as possible.  The goal of most business owners should be to monetize and leverage their business for personal wealth building.  This goes beyond compensation and matching your 401k! There are many advanced strategies that are available to business owners to assist in diversifying your wealth.

As you can see, everything you want to accomplish in business and life starts with the right strategy and execution.

If you are looking to take your business and your wealth to the next level, we are excited to work with you.

Yours in Success!

Cherie D. Putman CPA, CFP®

Founder, Putman Financial Group

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