Does this sound familiar?
“I operate a seven-figure business, but still can’t take a decent salary for myself. Help.”
If this is you (even if you’re not at seven figures) and you’re not able to take a decent salary, you are not alone. This happens more often than it should, but it doesn’t mean that you can’t fix the problem. The first thing to do is take a look at how you’re doing business and start asking questions…
Questions To Ask
- Am I profitable? If not, why?
- Where is my time going? Is my time being used to its highest benefit?
- Where exactly is our money going?
- Who can help us get profitable?
- Am I making the best financial decisions?
- Do I have a reliable system in place to manage our cash?
These questions will help you to start a deep dive into the financial operations of the business and determine what’s really going on. This isn’t something that can be done overnight, but it’s certainly something you can start today.
As a business coach, asking the right questions is key to helping my clients break through their financial troubles. When you start asking better questions about your business it changes the perspective you come at the problem with. That’s going to open you up to new ideas, for creativity and innovation.
Start asking new questions. When you ask questions you’re going to get answers. From those answers, you’ll begin to make changes. Those changes will lead you closer and closer to a profitable business.
Often I hear business owners who just want one magic solution to fix everything. Like finding the magical rainbow unicorn that will run into the room and to fix it all. But that rarely happens. Sorry, it just doesn’t work that way.
Instead it’s like a puzzle. One piece at a time until the picture is crystal clear. Small steps forward, asking different questions, rinse and repeat!
When you identify problems in the business, then fix those problems at the source, things will improve. Too often as business owners we are too “busy” to address the problem and end up putting band-aids on it to deal with the symptoms. But really taking the time to go deep and fix the problem at the source is the key.
Where does it start? By asking the right questions!
Do you need help increasing your business profits? Schedule a call with a Profit Advisor. Our complimentary one-hour session is the first step towards having a financially solid business. Schedule a call today.