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Traits of a Successful Business


We want to be the Accountant who will Challenge  Attack  Question  Confront  Dare  Provoke  Contest  Assault  Invade  Blast you on the way you operate your business.

The key areas of any Business that require ongoing maintenance to ensure the Health and Wealth of your business are:

  • Finance (Cashflow, profitability, growth etc)
  • Premises and Equipment
  • Human Resources (your employees)
  • Key Suppliers (critical service providers)
  • Information technology (hard to ignore in today's conditions)
  • Business Development (i.e. sales and strategy)
  • Training and Development
  • Succession and Structure (ownership progression, shareholders agreement)
  • Your own Personal Wealth (Super, Estate Planning, tax Planning etc)

We cannot help you to really achieve this without meeting with you and planning better outcomes and improvements.  Email and phone calls will not cut it here.  You may need to break habits to:

  • make changes
  • implement things
  • remove barriers
  • classify clients / products / services differently
  • involve staff differently
  • interact with clients differently
  • change how you invoice for products and services
  • eliminate products or services
Some of the things that may need addressing are:

1.     Optimum Structure

2.     Strategy for Growth

3.     No Economic Dependence

4.     Regular and correct financial statements

5.     Management that understand and use their financial accountants

6.     Budget/cash flow exists

7.     Profitable clients and diversions

8.     Documented systems and processes

9.     Segregation of duties

10.  Business Brand

11.  Specific client focus

12.  Marketing plans that include each market segment

13.  Job Descriptions

14.  Optimum Business Model

15.  Key drivers of the business are known and mentored

16.  Regular management meets and accountability

17.  Skilled and trusted management and/or advisors with complete skills sets

18.  Intellectual property is owned

19.  Exit strategy or succession plan exists

20.  Corporate Will

21.  Continuity of Business Plan

22.  Risk management issued address

23.  Management is real about where the business is NOW

24.  Detailed Action Plan

25.  Immediate action is taken

© Debbie Crowther, 25 Traits of a Successful Business

All we may achieve is to give you the gentle push required to achieve more from your business, and we can continue to follow up and discuss any of the above to ensure you continue to improve / grow / implement.  It is a very rare business that can remain successful by standing still.

Some great quotes to get you thinking:

'The mechanics of running a business are really not very complicated when you get down to essentials.  You have to make some stuff, and sell it to somebody for more than it cost you... That's all there is to it, except for a few million DETAILS!' – John L McCaffrey

'There are no secrets to success. It is a result of preparation, hard work and learning from failure' – Colin Powell

'Sometimes when you innovate, you make mistakes. It is best to admit them quickly, and get on with improving your innovations' – Steve Jobs

'All lasting business is built on friendship' – Alfred A. Montapert

'There is only one boss. The customer. And he can fire everybody in the company from the chairman on down, simply by spending his money somewhere else' – Sam Walton

'Hell, there are no rules here – we're trying to accomplish something' – Thomas A. Edison

'Business, more than any other occupation, is a continual dealing with the future; it is a continual calculation, an instinctive exercise in foresight' – Henry R. Luce

'A business has to be involving, it has to be fun, and it has to exercise your creative instincts' – Richard Branson

'The expectations of life depend upon diligence; the mechanic that would perfect his work must first sharpen his tools' – Confucius

'The first one gets the oyster the second gets the shell' – Andrew Carnegie

'Hire character. Train skill' – Peter Schultz

'The first rule of any technology used in a business is that automation applied to an efficient operation will magnify the efficiency. The second is that automation applied to an inefficient operation will magnify the inefficiency' – Bill Gates

'It is not the strongest of the species that survive, nor the most intelligent, but the one most responsive to change' – Charles Darwin

'The absolute fundamental aim is to make money out of satisfying customers' – John Egan

'The man who will use his skill and constructive imagination to see how much he can give for a dollar, instead of how little he can give for a dollar, is bound to succeed' – Henry Ford

Do you want us to Challenge  Attack  Question  Confront  Dare  Provoke  Contest  Assault  Invade  Blast you on the way you operate your business?

 

Published May 2013

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Since 1994, Harris Black has been providing accounting and advisory services to our valued clients to help them achieve their business and personal wealth goals.

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National Affiliation

Harris Black is a key participant in a network of nationally affiliated independent chartered accounting firms called the Brentnalls Group.

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Level 16, 333 Ann Street
Brisbane, QLD 4000 
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P: (07) 3032 0200
F: (07) 3032 0201
E: info@harrisblack.com.au