STOP GUESSING, START KNOWING - Sarita Johan

Sarita Johan presenting Build your Core 

IBGR.Network - PROFIT Radio. Everything a business owner needs to start, grow or exit a business. GROW WITH US.

Introduction
Being in a Dynamic Partnership doing Business and Life together takes time and special effort. The emotional bonds that exist can get in the way of maintaining focus and at times blur the lines of communication. In the top 5 of key discussions I have with these unique partnerships often the conversation is about money, either the lack of it or the lack of confidence in the insights either partner  is providing. Having good structures and record keeping mechanisms in place is imperative. Knowing how to manage this important part of your business will allow you to plan for the next level of growth and achieve greater success. 
 
Dynamic partnerships can set you ahead of the game and create massive gains if set up well. So is it genius or a recipe for disaster? Let’s work on making it a genius undertaking. 
 

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Show Objective
In this week's episode I welcome my special guest John Stead from HMH who is an expert in the field of accounting with over 40+ years in Family Business and privately owned businesses. We have picked the top 5 issues this partnership experiences and how you can navigate the conversation of money and what you can do to  keep your business financially fit. John’s insights are gold and besides his expertise he also happens to be a great human and I am grateful to also call him my friend. 
 
 
Key issues for dynamic partnerships we are addressing in this episode 
 

1. Lack of understanding the role of financials in business
2. Irregular communication around results and issues
3. One or more parties not engaged in the process 

 
 
What you need to know 

1.  The role of budgets as a tool  – Why important and what it is not
2. Topline focus – What does this mean,
3.  Fixed cost vs variable 
4. Profit vs cash-flow
5. Compliance (instead of tax liabilities)

 
What you need to do

1. Adopt a money mindset, educate yourself and engage in good advise 
2.  Understanding the structure under which you operate best, when we understand it can be fun, incentivise and it creates opportunities, work smarter not harder 
3. Keeping good records and keeping them up to date

• Get a good record keeping tool software
• Advise
• Monitoring, monitoring and monitoring 

1. Communication, regular financial management meetings including possible advisors

 
 
Wrap up
In summary, having a deep understanding of your financials will allow you to know how to take your next step in your business, building your business into an asset that is sellable, scalable or attractive for investment. 
 

Shows
Next: 6 Episode 6 Effective communication 101, we will explore the impact of communication, what to consider and how to avoid the noise in your business. 

If you’d like to understand more about Dynamic Partnerships you can schedule in a time for a 20 minute power chat. Book your time here. 

“Sarita Johan brings more than 30 years of Business experience. After spending her career climbing the corporate ladder, running her own businesses and juggling family and relationships – she doesn’t just talk the talk she’s walked the walk.

SJ Coaching was born out of the desire to be more. A snapped femur, financial hardship, and a broken marriage led Sarita to completely redesign her life.

Sarita walked away from her high-profile career, invested in self-development and became a NLP Master Practitioner and ADVanced Innermetrix consultant which has allowed her to deeply understand how people think and make decisions. Because of that Sarita is able to deliver a holistic solution for those in business, teaching people to become more conscious of that we are not our business and the need to consider all areas of life. Her unique blend of business and mindset coaching empowers her clients to identify their business blind spots and success blocks so they can prosper in both business and life”.

Sarita specialises in coaching for People in Business with:

• Dynamic duos in Business and Life
• Partnerships
• SME's with teams
• Executives

If you have any questions or would like more info on how to Play your A-Game from the Inside Out then contact me on any of the links below. 

Website Email Linkedin  Instagram

Written by Sarita Johan

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