Date : March 19, 2019
Category : Financial Planning
Investing time and energy to develop detailed plans for growth is a task that dedicated business owners perform – but that’s not their only priority. A solid strategy for both their business and personal finances, especially since the two are usually intertwined, holds the key to a business owner’s overall long-term financial success.
Setting strategy is a crucial part of putting businesses on the path to stable and profitable growth. What does that look like? Start by reviewing this checklist of “best practices” for business owners, and determine what aspects of your current business plan may need strengthening to keep you on track.
Set strategic quarterly, monthly and/or annual business goals. More than simply setting revenue hurdles:
Focus on the bigger picture. Arrange for some time away from the office routine, where you can fine-tune the details of your strategy. Use that time to:
We recommend business owners focus on their personal financial plans using a similarly methodical approach. Are you sacrificing your own financial health for your business? Review this checklist of “best practices” and examine aspects of your current personal financial plan that may need revision while you run your business. Do you:
Owning and running a business is no small accomplishment. Our advisors understand that business owners consider a multitude of factors to ensure financial success for their companies, and we encourage them to do the same with their personal finances.
If you are a client, we are already taking these considerations into account. If not, contact Harris Financial Advisors to explore how we can help you and your business thrive.