As a business director or owner, it can be challenging to decide the best direction for your business, whether it’s growth in size or diversification into other markets, downsizing after the turbulent past few years, succession planning for the next generation, or marketing your business to commercial investors.
It’s difficult to weigh up your options and not be sure of which direction to choose to help you grow in different ways. Many accountants simply offer input into what the numbers are saying, but we like to take a different approach. Developing a Business Improvement Plan for our clients helps to provide a clear pathway.
Threesides Marketing Directors Todd and Rachel Wright recently sat down with Nexis Brisbane Director, Michael Talevich, for their initial Business Improvement Plan workshop. Rachel shared her thoughts about the journey they have started with us.
“We have just started the Business Improvement Plan with Michael and had the initial workshop, which was a good exercise for Todd and I to do together as we had different ideas on our business priorities. Having Michael’s financial and business advice to talk through our individual thoughts and opinions has helped us come to agreed business goals.”
The Business Improvement Plan workshop takes clients through 80 questions designed to encourage business owners to think about all areas of the business: people and recruitment, profit, process, policies, and technology. “The questions we were asked made us think about our financial and business position and drove us to dive into every area of our business.”
The workshop examines your business and provides critical analysis, including a Risk and Value Driver Analysis and a business SWOT analysis. The process can also identify when Directors have different personal and professional goals for the short and long term.
After completing stage 1, business owners and directors are presented with their Business Improvement Plan, which includes a clear set of actionable steps to improve and grow their business. They also receive industry benchmarks and how they score against them.
If you are looking to grow your business and its value and are not sure where to start, get in touch to book your initial workshop with one of our trusted advisors.