Updated 21, 2015
Business Consultant Chicago Illinois
Can you help get my business to produce profit?
Business Consultant Chicago
What most people don’t realize is that the process of doing accounting for hundreds of companies, over large spans of time provides us with a wisdom that you cannot find elsewhere.
We have seen what has worked, and what hasn’t. Most of that knowledge can be transferred, if you are willing to listen.
Businesses have a tendency to come in four categories; Dogs, Problem Children, Shooting Stars, and Cash Cows. Getting them from one category to another is difficult, but not impossible.
The name says it all. Its a business that just doesn’t work. There is an intrinsic problem in the marketing mix of Men, Money, Material, and Machinery. The product is obsolete. The product fills yesterday’s want, rather than today’s need. What do you do? Change the product. Change the method and means of production. Change the location. Do something different. Don’t just discount. Call or e-mail us today.
- Problem Children
This is generally a newer business that hasn’t yet hit its stride. The product is new. The staff is inexperienced. The leadership of the company is untried and unproven. Every ridiculous problem that can occur, will. Murphy’s law is in place. What to do you do? Remain flexible. Realize that people are going to make mistakes. The business that you end up with is never like the business that you envision. Come up with reasonable solutions to the impossible problems of childhood. Have patience with your child. Call us today for professional help.
- Shooting Star
Generally a newer business that is growing so fast that it is out of control. Businesses that grow rapidly are a financial nightmare. How do you cover your expenses when your receivables are growing at an exponential rate? How do you train employees fast enough to handle the ever-growing traffic? How do you regulate supple of raw materials to manage production? What happens when you run out of space? You need to have patience with your precocious brain child. As soon as you solve one problem, you have another. What do you do?
- Cash Cows
These are older, established, controlled business that are doing quite well. The business has already been through the wars, the problems of childhood, and the teenage years. What to do next is generally THE question for management. You can just milk this cash cow, or you can build on your success by expanding your opportunities and accepting additional risk. It all depends on the goals of ownership.
Do not try to face this on your own. So if you are experiencing issues with Business Consultant Chicago Illinois or accounting in general, we would love to help. Contact us today.
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Chris Amundson is the President of Accounting Solutions Ltd., a full service public accounting firm of Certified Public Accountants and Enrolled Agents handling the bookkeeping, accounting, tax preparation, and audit representation needs of Businesses, Estates, Trusts, and Upper Income Individuals.