Guide The Business To Success
Once a business plan has been completed, the implementation of the plan begins.
This is where many business owners become unstuck, and very quickly the plan can unravel, before too long, due to frustration, the business owner abandons the plan. So why does this happen?
First off, business is fluid, it is always changing, either by internal or external influences. Unless the business owner can make ‘adjustments’ to the plan when required, these influences can derail the business from achieving its goals. This makes the business re-active to changes rather than pro-active.
Business owners rely on Accounting Software to keep them informed, especially their P & L (Profit and Loss). Reliance on the P & L as the only indicator to business performance, I believe, can be a very costly mistake.
Depending on the business I develop my own business measurement tools that complement and work as an additional resource to the P & L. This methodology has worked wonders for developing and achieving business potential.
By using my own systems I am able to provide good accurate information to my client, plus I am able to advise and help implement solutions to help the company achieve its goals.
Here are 2 examples.
A client who’s primary source of income is from sales (no manufacturing). After an assessment I felt the best way forward to achieve their first business goal was to improve sales, but this issue was, they did not have the resources in time to obtain more leads in order to win more business. On this basis they would have had to hire an additional salesperson which they could not do due to cost etc.
The answer seemed simple enough, sell more from the leads they were already getting. I looked at their conversion ratio from quotes and it was 29% (or 2.8 sales from 10 quotes). They said they were in a competitive market and felt this was not the best but acceptable.
The goal was simple, just 1 extra sale out of 10 quotes would make a huge difference on this business. I put in place a better monitoring system and then changed their ‘selling process’.
The result was incredible, they achieved, over a 12 month period, a conversion ratio of 59%. That is 5.9 sales out of 10 quotes, or a 55% increase without compromising margins etc.
A manufacturing business was constantly on the verge of going broke, their factory team seemed very busy and fully committed. After investigating the opportunity, I established a plan and then set-up my own ‘systems’ of measurement to determine what was happening. I discovered the productivity rate was (previous 12 months) 59%.
Due to the measurement systems I put in place I was able to make and test some changes. The result was an increase of productivity to 74%.
That is a productivity increase of 25%, the Gross Profit of the additional productivity flowed straight through to the Operating Profit of the business, which represented a number into the six figures.
To help a client achieve their agreed goals, I create monitoring systems which help me to monitor key parts of the business which intern allow me to advise, support, and help my client to implement solutions and strategies to obtain key goals with the business.
By utilising my services, I take a huge strain off the business owner and allow them to maximise business opportunities.
Does this sound like what you are looking for? If ‘Yes’ then click on the button below, after all, you have nothing to lose, but you may be on your path to greater business success.