spending plan

10 Reasons a Clean Set of Books and Our Spending Plan Spell Freedom for Business Owners

  1. That week (or several) in January that you used to spend poring over last year’s receipts and invoices for the tax preparer can now be spent on a vacation or stay-cation of your choosing.
  2. Setting revenue goals and pricing just got easier.
  3. Identifying and targeting the most profitable customers just got easier.
  4. Hiring decisions get easier; and, the plan manages the people for you because their pay is based on performance, not longevity. Meanwhile, the empowerment and incentives will keep employees engaged and loyal.
  5. The emotion is taken out of spending decisions.
  6. If the books are done on a regular basis, problems are kept small because the plan identifies areas that need attention immediately.
  7. Owner earnings reflect how well your business is sticking to the plan and can be rewarding enough to pay for that vacation in January and then some.
  8. A nest egg for growth makes you attractive to lenders and protects against business cycles.
  9. Improved cash flow protects you from your own desperation.
  10. Tax time will no longer be so scary because you will have money set aside to pay those taxes.