Donna Reade

QuickBooks Online Consulting & Bookkeeping

Are You a Business Owner Suffering From Self-Inflicted Wounds?

Every week I get at least one call from a business owner who tells me that nothing is working in their business and they are very frustrated. They are very free to put the blame on factors they say are outside of their control. They blame their employees and their customers for lack of cash flow. They say they are trapped by their business and can never take any time off. As I work with small business owners, I have learned that in most cases those are self-inflicted wounds.

  • It’s not the economy
    It’s not a lack of talented people
    It’s not the folks down the street
    It’s not the neighbor’s cat

It’s the business owners themselves, who, for lack of a better description, continue to self-inflict damage upon their companies. The majority of the problems are created by and supported by the business owner. It can take many different forms and go by many different names, but at the end of the day, it goes back to the business owner and something they did or did not do. It goes back to their attitude, how they solve problems, their follow through or lack thereof.

Here four common issues and my responses:
”I have a cash flow problem.”
Actually, the cash flows through your front door and immediately out your back door, you don’t have a problem with cash flow; it’s flowing very rapidly. You have a problem with cash retention and profitability.

“My employees are all lazy and don’t know what they are doing”
Who hired them? You! You may have personnel issues, training issues, accountability issues and communication issues.

“After I pay everyone I have no money left to pay myself”
Why would you take all the risk, the financial stress, the emotional strain and be the lowest paid individual on the totem pole? You allowed the business to just evolve, without a plan and it evolved against you.

“I can’t take any time off. Nothing will get done the right way and all the employees know I will take care of it if they mess it up.”
There are so many issues here that I cannot begin to list them all.

You need to understand that your business doesn’t have to be this way. It is always your choice, it’s your business and it’s your future.

So the next time you are sitting alone in your office, with your head in your hands, take out your smart phone, take a Selfie and you can begin find the answers within yourself.