Starting a new business or decision to accelerate growth of existing business CPC Accounting works with new & existing entrepreneurs all the time , and we find 90% success stories, share a discipline which unfolds as follows:
1. A 60 months detailed business plan , based on lead generation strategy, client acquisition potential and resulting in a “Profit after tax” tracked every month against actuals leading to Vision of Profit after tax and Business Valuation after 5 years.
The 5 Year Business Plan builds a very realistic Profit after tax growth (assessing the Product Pricing, Volumes to sold, employee expenses, Cost of good sold, ROI for Advertising & marketing expenses , operational expenses) , a monthly Cash Flow analysis and a monthly Balance Sheet tracking the need for Credit Lines, goodwill etc).
The business plan is tested under various stress simulations and a decision to go ahead is based on a simulation that the owners and Clearwater Professional Corporation agrees upon.
2. Once step 1 is approved, we go forward and execute the following:
Incorporate the company
Open Bank accounts
Register with CRA (I.tax, HST, Payroll , WSIB etc)
Setup Cloud based accounting systems
Open the door for Business
The above steps normally takes two weeks.
For existing owners, milestones , deliverables and resources are put into place based on the 5 year business plan (60 month) to achieve the Growth aspirations, measured in Profit after tax and Business Value for sale at the end of the 60th month.
December 21, 2020