One of the reasons for the troubles in the disastrous small business economy that no one else seems to want to talk about are that many owners put everything else (i.e., quality of life, happy employees, business campuses, and free pizza and beer) ahead of the old-fashioned concept of profits and real money. Ask your banker if that’s right.
My company, The Profit Line, provides bookkeeping and financial management services to small businesses in Toronto.
Last week, I had a prospective client come in to see me because he was drowning in paperwork and losing money everyday he remained in business. He was 45 minutes late because he had to talk to his priest about his upcoming wedding. No call to let us know that he’d be late.
I told him we were no longer in the business of helping those who were unwilling to help themselves and that he’d have to find another solution.
When you find your business in dire financial straits, sometimes the only solution is to put your personal life aside and focus on fixing the problems.