One of many strong motivators for starting a business is that we want to be our own boss because we expect we can be more financially successful that way. What happens, actually is that most small business owners do little more than generate a wage for themselves. http://emi-rs.com/
When being very good at doing the work of the business, they be lacking the relevant skills, knowledge and competence to generate the business, to make it financially successful. They do not discover how to work on the business, only how to work in it.
They would like to build a secure future on their own and their families with their business, but instead what happens is they place that future at great risk because they don’t understand how to protect their business from the many problems to its success. They will do not know how to bullet-proof it.
This kind of is the very reason every small business owner needs this guide by Daryl La’Brooy. Can certainly make money wish I had this publication during my hands when I actually started my business more than quarter of a century ago. Rich small business owners have resources to pay for this kind of advice but those who have not as yet reached that level do not know the steps they need to take to protect this important property.
This guide is a consciousness raising book for small business owners where Daryl opens up the challenges and unforeseen problems that can emerge for folks setting up small enterprises. This individual presents a pro-active strategy to how small business owners can meet those challenges, discussing everything from how to start out a small business and how to grow it, to how to get out of it. Actually the first key in Daryl’s bullet-proofing plan is that you intend the way you want to exit as you set up your business. Most small businesses no longer do this, rather they wait until shortly before they are ready to retire and locate they are not able to exit when they need because they are not monetarily secure enough to fund their retirement.
His second truth is about the challenges and risks around ownership both for the sole trader then when other partners are taken into the business. He illustrates the fact that if the organization owner is not aware of what can happen here therefore does indeed not bullet-proof the business against unforeseen and unpredicted events, the consequences can be dire for the business.
Ensuring that the wealth created in your enterprise in the end ends up in the hands of the people it is supposed for is Daryl’s third key. He demonstrates how so often lack of consciousness, naivety or lack of planning sees the bucks, the business owners have put in their lives earning, finding yourself in the hands of folks for whom it was not intended.
Setting up a personal wealth management plan independent of the business including an estate plan, demonstrating the bullet-proofing this provides you with the family finances, is the fourth key in the book.
The previous chapter of Daryl’s e book is how you can create your own “do it yourself” Financial Plan to bullet-proof your business. No one wants to handle the shock of bankruptcy or the collapse of the organization into which they have put so much of themselves. That may have a disastrous impact, both emotionally and financially.