I am working on a new book for business owners who are unhappy or uncomfortable with the financial health of their business.
The book is all about helping you turn that discomfort into financial happiness and peace of mind.
In short, the purpose of the book is to help you become a Happy Owner. :-)
A Happy Owner is a person who owns all or part of a business and they are happy with the financial health of their business. They feel good about the cash flow the business generates. They are being paid a fair and consistent salary for the role they play in the business. They are receiving healthy and frequent distributions of excess cash from the business.
There is a natural monthly financial rhythm in place to measure, monitor, and improve the financial health of the business. As a result, they have the freedom to focus most of their time and attention on the single most important function in business: getting and keeping customers.
On the other end of the spectrum is an Unhappy Owner. An Unhappy Owner is a person who owns all or part of a business and the financial side of their business is making them unhappy and uncomfortable. They are feeling dissatisfied with the financial health of the business.
An Unhappy Owner is:
- Worried about cash and cash flow in their business
- Uneasy about the amount of debt they are carry in the business (and the debt is growing rather than shrinking)
- Dissatisfied with the level of salary and cash distributions they are receiving (or not receiving) from the business
- Feeling pressure to put more money into the business
- Unable to create a reliable cash flow forecast or projection
- Unhappy that everything seems like a surprise when it comes to money and cash flow
Where are you on the Happy Owner Scale?
Here is a quick question that gets to the heart of how you feel right now about the financial health of your business. No need to do any financial analysis to provide your answer. Just use your gut reaction to how you feel right now about the financial side of your business.
The lower your rating the more uncomfortable and dissatisfied you are feeling about the financial health of the business. A low “Happiness rating” means the business isn't generating the amount of cash you need to fund your growth plans. It's not rewarding you financially the way you need it to.
The business probably isn't on financial life support. But you know that something is "out of whack" with the cash. You're just not exactly sure how to take control of the cash flow… and you're unsure what to do next to fix the problem.
Generally speaking, I would characterize a 6 or below as an Unhappy Owner and a 7 or higher as a Happy Owner (financially speaking).
Your Happy Owner Rating
I created a 2 question, 30-second survey about how you are feeling right now about the financial health of your business.
Please click here to answer these two super-fast questions.
Thank you.
NOTE: You can grab a copy of my newest book at Amazon.
A Quick Start Guide to Financial Forecasting: Discover the Secret to Driving Growth, Profitability, and Cash Flow Higher provides a straightforward, easy-to-understand guide to one of the most powerful financial tools in business: a reliable financial forecast. It will transform the financial future of your company and help you make better business decisions. Get the book at Amazon.
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