How do youprotect the value of your business from the ravages of “BOB” Syndrome (Business Owner Burnout)?The secret may be found when you ask yourself some very important questions long before you reach the burnout stage. For example:

·Does my business rely on my being involved in all aspects of the business?

·Am I training anyone to replace my position in the business?

·Could the business continue to operate in my absence for a week, month, or year?

·Are the operations of my business documented so that someone else could be more easily trained in the business operations?

·Are key business documents (contracts, leases, agreements, etc.) up to date?

·Is the company accounting/bookkeeping system technically up to date?

·Are accounting records and bookkeeping kept up to date?

·Do I understand what my business financial statements are telling me?

·Am I willing to seek professional help in order to better understand my business?

·Do I consider my business to be fiscally fit (in stable to good financial condition)?

·Am I happy with what I earn from my business?

·Is there anything I can do to improve the performance of my business?

·Am I satisfied with my position in the business?

·If I didn’t own this business, would I buy it from someone else, knowing what I know?

·If I would not buy this business, can I identify the issues that would frighten me away?

·Are the identified issues “solvable” (can they be fixed)?

·If I needed to sell my business immediately, would someone else identify the business deficiencies (the ones that would have prevented me from buying this business)?

·Can those identifiable issues be remedied “before” I would ever need to seek a buyer for the business?

Asking tough questions about your own business is always hard.That’s because often we are afraid of the answers!

A business is like a wheelbarrow: If you want it to go somewhere, you have to pick it up and push. As you know, it takes energy to push a business. Physical, emotional and economic energy may be in short supply when they are needed most. Take the time today to ask yourself the hard questions. If you don’t like the answers, take action! Tackling and fixing each problem area one at a time is usually the best approach.Don’t put off until tomorrow what you can accomplish today.By acting now you will be sure to put more cash in your pocket later. For more information about this and other business topics go to www.gruttercpas.com and www.lulu.com/businessadvisor .