Why am I
DOING THIS?
ACCOUNTANT
CHARISSE RUSSELL
Director
It’s a common thought early in the
morning after another late night working
to keep your business going, trying to
find a few more hours in the day. That’s
why in business, it’s important to start
at the END.
One of our main goals with new clients
at Entrepreneurs Accountant is to
set an End Goal for their business,
because the best way of maintaining
your drive and focus on those
Groundhog style days is by having a
clear end goal to achieve. It makes all
of those important little decisions you
make all of the time a lot easier as it
gives them a purpose to achieve before
they can fit into the overall framework.
Your End Goal will depend entirely
on what you want to get out of your
business and how long you want to be
doing the same thing, but the main
thing is to ensure that when it comes
time to walk away from your business
you have something that you can sell or
continue to make income from without
having to put in a full-time effort.
For the sole traders out there this
means ensuring that when it comes
time to sell you have a sale price in
mind and can work towards building
your equipment/stock/client list/
procedures to a point where people
will be willing to pay your price instead
of having the bare essentials that they
could put together themselves.
For the larger business and
Professional practices, you can
choose between a sale price or putting
management and procedures in place
that would allow you to still draw from
the business without being involved in
the day to day operations.
A third option you might not have
considered is Franchising. It’s not for
everyone but can be a good way to earn
money from the work you’ve put into
building your brand and operation.
Planning for the fact that at some
point you will have to walk away from
your business is one of the most
important parts of running it. You may
not have a say in when it happens and
all too often business owners without
an exit or succession strategy are
forced to simply walk away from their
creation with nothing but memories
and lingering debts.
Having an End Plan gives you the
answer to ‘Why am I doing this?’ on
those long days and early mornings.
When you find yourself adrift in the
business world you need to have a
destination in mind before you can
chart your course.
Charisse Russell is a Chartered Accountant
with over 17 years’ experience in accounting,
audit and taxation. Her passion lies in changing
lives through her approach in being a coach,
advisor and mentor. Charisse has two gorgeous
munchkins and has an amazing husband.
Charisse is part of the Tax Store network of
accounting practices and runs and operates HKS
Russell [Business | Accounting | Consultants].
Charisse Russell [CA, NTAA, BCom]
1/101 Mulgrave Road, Cairns QLD 4870
P: 07 3177 4120
M: 0417 634 193
E: [email protected]
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