Stabilize Right

Many people want to Start a business and then Grow it.  They don't realize there is a step in between Start and Grow and it is called Stabilize.  A stable business has the following characteristics:

• Enough cash to survive a minimum of six months with no income

• No debt or long-term liabilities

• All taxes are current

• A trained and qualified bookkeeper is in charge of the books

• An outside, qualified party reviews the books at least annually

• No pending lawsuits

• A team of employees who have been with the company at least one year

• A backlog of work to last at least six months at current monthly billing rates

• All business processes have been written down, diagramed and all employees are familiar with all the processes, even if they are not involved in the specific process

• Every employee, including the owner(s) have written job descriptions which are adhered to and edited if necessary

• All employees receive performance reviews at least twice a year

• The company has a complete business plan tailored to the business

• The business plan is reviewed at least quarterly and edited as necessary

• At least annual reviews of client perceptions and satisfaction are executed each year

See why so few people want to Stabilize?  The problem is that if a company tries to grow without all this infrastructure being in place before, they reduce their chance of success dramatically.

If you require a business plan we encourage you to take the 12-hour BRS business planning class.  It will guide you through a definitive, interactive process of developing a business plan that works for you.  It is not some canned package.  Give us a call at 303-678-2927 if you would like to discuss a business plan process for you.