A matter of team work

I spent an evening at a master mind group several weeks ago during which the conversation turned to a business opportunity that one of the other members had been presented with. the opportunity to purchase a well known sandwich franchise. This member went on to tell us how the sales rep for the franchise printed a very pretty picture for them and did his job very well. after the sales presentation the member and spouse were nearly ready to sign the contract and get started. Fortunately this couple had the forethought to involve their accountant in this process and after examining the financial statements found that the business was actually loosing money consistently. The couple decided not to purchase the franchise.

When was the last time that you involved your accountant in one of your financial decisions?
By involving their accountant, this couple saved themselves from purchasing a franchise that would have eaten them alive because it kept loosing money.

the next time that you are looking to make a purchase, ask yourself, do i have all of the information I need to make a well informed decision on this, and will this bring me closer to my goal.

for my colleague, the answer to both questions was no. To make sure that they had all of the information necessary, the couple sought help. Once the discovery was made that the franchise was loosing money, the answer to the second question became obvious. knowingly loosing money on an investment was not an intelligent decision for them because it did not bring them closer to the goal of creating more income from their investments.

Remember, before you make a financial decision, get all of the information. if you are not sure that you have all of the information, ask a trusted professional or other person with successful experience doing what you are trying to do.
Finally ask yourself does this take me closer to my goals? Make sure that you have clear and specific goals, or you will not be able to accurately answer this question.

To your dream life style,

Dannielle Fritz-MacDuff
Jade Financial Services & Tax Preparation Inc.
info@jadefinancialservices.com
330.299.0229