How Can I Maximise Profit in My Business?
Why would you want to become your own boss? For many business owners, setting up your own company is your opportunity to pursue your passion and forge a career out of something you love. But it goes further than that. Being your own boss enables you shape your own life and directly impact the financial future of you and your loved ones.
But what happens when you want to leave the business and sell what you’ve built? Will you have enough capital to see you through? Or will you need to carry in working just to make ends meet?
Chris came to us with a predicament: He had spent many years building up his company but had reached a juncture in his life where he wanted to retire, ideally within 18 months of our meeting. Both working in their business, Chris and his wife were earning a substantial income for their family, but Chris was concerned what their future would look like if they sold the company. Would they have enough to maintain their lifestyle? Or would they have to make some sacrifices to get by?
For Chris, we used Lifetime Cash-Flow Forecasting to illustrate how the capital from the sale of the company could be maximised to provide a sustainable income for the rest of his life. We gave Chris confidence that he would have enough, so that he could proceed with the sale of the business.
Through our illustrations, we also found that Chris and his wife could afford to also purchase their dream home, which exceeded his expectations. However, the best outcome was that Chris knew, with certainty, what he could expect from his capital for the rest of life, and that he could look forward to the future.