The Importance of Creating a Plan for Profit

Written By Barbara L. Starley, CPA

As an entrepreneur, you likely place a high value on freedom. Unfortunately, 83% of business owners are living check-to-check.  Where is the freedom in that?

Mention the word “budget” and you might cringe or feel like it hampers your freedom.  I get it!  Instead of creating a budget, create a Plan for Profit.

Forget about accounting as you know it.  Realize that “logic” does not work with our natural behavioral tendencies.  If it did, we wouldn’t see so many businesses fail in the first few years.

My systematic Plan for Profit allows you to:

  • Work within your natural tendencies

  • Remove temptation

  • Know you have enough money to cover operating costs

  • Have money set aside to pay your taxes

  • Take appropriate compensation for yourself without draining critical working capital

  • Protect from losses

  • Eliminate surprises at tax time

  • Make prudent decisions

  • Make strategic changes in pricing

  • Plan for large expenditures

  • Eradicate debt

  • Curb impulse buying

  • Increase your chances of business success

  • Be proactive in increasing sales, decreasing expenses, and managing cash flow

  • Manage business growth

When you take time to plan for your profit, you can enjoy the freedom of knowing what your money is intended for, before spending it.  If I’m not already working with you on your plan, reach out to me with any questions you may have. If you are already utilizing said plan, please share your experience with me.

I look forward to hearing from you, either way.

Barbara L. Starley, CPA

Barbara is a best-selling author and trainer who uses her extensive QuickBooks(r) knowledge and professional expertise to serve primarily churches and related not-for-profit organizations. She is the founder of the Good Steward Church Academy, a member-based community of like-minded bookkeepers, pastors and treasurers who desire to honor God with their church finances.

As your On-Call Controller, Barbara bridges the gap between your in-house staff (maybe that's you) and your outside advisors. Her goal is to empower you to do what you can do yourself and to understand why you need to do it. You also have Barbara "on-call" for quick question support, further training, and troubleshooting, if your books get messy.

Churches, as a subset of all not-for-profits, are often under-served. Barbara believes that she has been called to change that. Integrity is a core value in how she trains and advises her clients. Having a clean set of books that tell a story and allow for wise-decision making is paramount to the success of any organization. She loves to see the light bulbs go on for her clients in the area of accounting and financial reporting and she looks forward to working with you!

https://www.goodstewardchurchacademy.com
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