One big problem faced by all business owners one day

I received a message from a marketing consultancy last week to say that the main mistake business owners make is to try to “be all things to all men” and instead we should focus on the ONE BIG PROBLEM we solve for our ideal clients. That is a really difficult question for us because we solve lots of problems everyday so I rather dismissed it as nonsense. However, just a few hours later something happened to make me realise that I did have an answer.

Just a few hours later ...

I was carrying out a review on a new client. While looking at the company’s filing history at Companies House I noticed an anomaly. The founder formed the company with a single £1 share. He then got married and gave shares to his wife. He had told me that he owned 75 A Ordinary shares and his wife owned 25 B Ordinary shares but these had not been correctly set up. When I told the client this he asked whether it mattered and my response was for him to imagine he is selling in 20 years time and the purchaser’s solicitors discovered that the shares had been incorrectly set up. This could affect the purchasers assessment of the risks of buying the company and reduce the price they were willing to pay and certainly would increase the legal costs significantly.

Then I thought about many of the other problems we solve and it occurred to me that most of these are during “the business journey” but all are targeted to achieve the one end goal.

So, the ONE BIG PROBLEM we solve is….drum roll…..

Making sure that when you decide to either retire or sell your business in the future you will have everything you need in place to get the best possible income stream or sales price with the minimum amount of stress (and taxes).

Potential problems along the way

This list is not exhaustive as it would take too long to list all of the problems clients have mentioned that we’ve faced and helped people with over the years.

Accountancy Problems:

I seem to spend my evenings or weekends working on my books. I need to get my work/life balance back as my family life is suffering.
My accounts are in a mess. I'm scared of falling foul of HMRC and the VAT man if I don't get my accounts and filings in order.
My employees are really important to my business success, but my payroll service keep failing to pay them accurately and on time. I'm worried about losing the people I rely on.
The new pension regulations have come in and I wasn't ready. I need to ensure that the correct pensions are calculated and filed with my pension provider.
My credit rating is not good and its affecting my ability to get the best deals from my suppliers. How can i maintain or improve it?
The thought of Making Tax Digital gives me a cold sweat. I don't understand digital accounts and on-line filing. I just need someone to deal with it so it does not cause me sleepless nights.
VAT is horrible, time consuming and in the past I've got it wrong getting me into trouble with the VAT man. I don’t need this stress especially now it's all done on-line.
CIS is a nightmare for my business. We employ subcontractors and the compliance gives me a headache every month.
I have tried filing changes to shares and directors at Companies House and am really worried I have done these wrong and this may cause a problem when I come to sell my business in the future.
I have claimed every expense I could find against my profits and now I can’t get a mortgage as my profits are too low.
My tax bills are huge and I never have the cash ready to pay them when they are due.

Business problems:

I've worked hard and built up a successful business but am worried it's at risk if my business hits a downturn.
My sales are good but I'm often short of cash.
I'm working all hours but still not generating enough profits from my business.
I want to grow my business but have plateaued and can't seem to grow it any further?
Business has exploded but I am scared that I am losing control.
I know how I want to grow my business but don't have the funds to kick start that growth.
Business is great but I need a life too - how can I unshackle myself from the business without it going down the pan?
What's next, I don't know whether to retire, sell the business, start a new business doing something I love or just keep going?

Some of the problems I've highlighted above may be familiar to you, others may not apply to you or you may just not have encountered them yet!

Either way, we are just a phone call away 01206 233170 or message us below.

So if you have a problem or worry that you haven't talked to us about yet, get in touch.

Our job is to help you build a better future for both you and your business.