Business Growth Articles

Analysing where your business is right now…

The BizGro  mission is to help business owners to get a life again, plug the gaps, restore their work/life balance and help them build an asset which is investor ready. Even if they decide not to sell, they will become free to enjoy the wealth created.

What can we do for you? Well that depends on where you are at and where you want to go.

To determine this, we will work our way through the following questions together.

Once completed, we will have enough information to put together a report or action plan on what you would need to do to achieve the desired objectives e.g.  Give you a successful business which operates on auto-pilot and delivers at least equal or more than when you lived in the business.

So let’s get started:

Company Profile/ Background: 

Owners Background:

Company background:

Where do you, the owner want to take this? Is there a clear strategic vision? Does everyone know what it is? Is everyone pulling in the same direction?

Who does what?

Is there a “system” in place? Is there an Operations Manual, policies & procedures, inductions, training, job descriptions & performance appraisals? Does everyone know what is expected of them?

Are there any clearly defined measurable goals in place? This is not only for the individual, but also each dept and indeed the whole company.

S.M.A.R.T = Specific, Measurable, Achievable, Relevant & time-based. 

 

 

Sales/Marketing:

Lead Generation: Are the sales team making the most of “no to low cost strategies?”

The soft sell, the consistent presence in the marketplace. Are they networking, business group breakfasts etc. Industry associations? Chamber of Commerce?

Are leads being captured? How?

What is the follow up procedure? You do have one??

What is the conversion ratio?

Do you maintain a database or better still a CRM accessible to everyone who will deal with a customer throughout the project?

 

Staff/ Key people

Does each person know what is expected of them? Do they have a job description and clear KPIs?

Does your company have a Skills Matrix detailing clearly which employees are capable to complete each task, this should be cross-referenced. This same matrix should be able to pick up on potential weaknesses and allow for training.

What is the general attitude, morale, commitment in your staff, honest opinion required here?

Do you really know your people?

Are you getting the best from them?

What do they really want?

Are they committed?

Do they know what you and your company stand for?

Financial Data

 

                  LFY                YTD               Budget

 

     
     
     
     
     

 

Sales T/O

 

GP%

 

NP%

 

Sales staff

 

 

 

Do you have an Accounts Receivable dept/person? Do they have a clear understanding of what is expected? Is there an S.O.P? Current days in receivables? Cost of stock on hand?

 

 

Operational Data

 

Product Mix? Winners vs. Losers?

 

Supplier contract reviews? 

 

Production efficiencies? 

 

Is the plant layout optimized? E.g. could you implement cell manufacturing? 

 

Work flow; from inwards goods to Despatch in the shortest line. 

 

Have you eliminated clutter, obstacles etc, to streamline workflow, eliminate heavy lifting etc – look at 5S here. 

 

Reduce WIP by promoting JIT systems, quicker the job is finished, quicker you get paid!!!

 

Stock reduction – both raw material & finished goods. Communicate with suppliers and customers regarding forecasts, consignment stock etc. 

 

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