The Business Ladder

WHERE DO YOU AND YOUR BUSINESS FIT IN THE BUSINESS DEVELOPMENT LADDER

Usually the first stage of development occurs where the trades person, banker, retail worker, cook, etc. will use the skills gained in previous jobs/study to become self-employed and earn income by hands-on working using their skills. At this stage of development, the business owner is responsible for the business costs, bookkeeping, advertising, GST and other compliance costs.

Essentially at this stage the business owner has only traded their job for another job with added costs, time and worry.

The only way you increase your earnings is to work longer hours and destroying your private life. You need to move to the next stage.

We can develop a strategy to help you get through this stage as quickly as possible.

FORSYTHS can develop a strategy  to help you get through this stage as quickly as possible.

This stage is where if you are good at your job you will have so much work and so little time to enjoy the proceeds of your business that you need to employ more skilled workers.

Now you really have a job. Not only do you still work on the tools but are also responsible for supervising the work and quality of work of others. You will have the added anxiety of ensuring you have a good cash flow, bills are being collected, and all your compliance work is being done correctly.

Too often, the first indication that some of the staff or processes in place aren’t working is when the bank stops paying your bills or the tax office gives you a bill for an unintended oversight.

This is the stage when you need to be trained enough to know that the work is being done correctly, and the only way is to be trained to the next level of business.

We can teach you the skills needed to safely move through this stage and start to enjoy the fruits of your labour.

This is the stage when you need to have the skills to develop plans to increase business efficiencies, increasing market share and a whole variety of tasks that will help your business grow further.

Simply sticking an advertisement in the local rag is not a marketing plan.

You will need to learn these skills and may even outsource the work to a marketing agency. You will need the skills to supervise the business and may even have to stop working on your previous skills.

You will not learn these skills on the internet, but we can mentor you to ensure you do not waste time reinventing the wheel.

This fourth stage is where you no longer work in the business on a day-to-day basis. You now focus on the strategic direction of the business. Do you set up branches? Do you acquire your competitors? What are potential dangers to the business and how do you avoid them? You may look at developing alternative income streams to protect from your competitors. Again, a completely new level of skills needs to be sourced or learned if you are to keep growing the business.

This is where your skills enable you to get joy from your business. And yes! We will be your guide for the ride.

You now have a full management team to make all the day-to-day decisions and formulate plans to grow/protect your business. It is the time when you can simply slow down or start another enterprise.

Your involvement will be using all of the skills gained to supervise the managers at regular meetings where you receive briefings on the day-to-day performance of the business.
You choose the level of work you do on a day-to-day basis. You know everything about your business so can quickly pick up if the business is developing problems well before they become a problem.

We can show you how to let go and move on to a new stage in your life.

 

Growing your business Training Staff Budget & Cashflow Marketing Strategy Income Splitting