Unfortunately, no one ever gives an entrepreneur a “user’s manual” and so they plunge headlong into business with little training or assistance for planning.
While there are many resources available from online training and coaching to books and courses, rarely do entreprenaurs pause long enough to find these resources, never mind take advantage of them!
All businesses have 5 key elements in common and they include:
- The product or service being offered
- Operations: which includes everything from location to technology and incorporation status
- Financial: which should include forecasting as well as ongoing tracking of expenses and income
- Human capital: which may be part-time help, 1099 consultant, virtual assistants or a full staff
- Business Development: often an “after-thought” most small businesses do not have a game plan in mind for new business other than expecting referrals from satisfied clients and customers.
When business is booming, the founder is often reacting rather than pro-actively planning. Planning forward, implementing profit sharing or 401(k) plans, adding other benefits, understanding the myriad healthcare regulations and other issues can befuddle the entrepreneur who often excels at what they do in their business-life. We can assist the entrepreneur in determining what steps to take to maximize tax deductions, increase employee loyalty and continue to grow their business with a plan of action.
Chapin Hill Advisors, Inc. works selectively with small businesses who are very serious about their growth path, want to succeed and are willing and ready to implement recommendations. We assist them by running future business projections, assessing profit margins, determining how to add team members and at what total cost, how to implement benefit plans and combine these projections with personal planning goals. We assist the business owner in implementing marketing strategies to accelerate growth and introduce them to trusted experts in a variety of fields to assist them in execution of our recommendations. We plan for personal goals and help the business owner move forward in a more deliberate, measured and planned manner to encourage their success.