A business owner finds more cash flow…

This business is six years old and going OK. It’s profitable with minimal staffing, minimum systems and minimal reporting. But we discovered the credit policy was inefficient, with too much was outstanding over 60 days.

A strategy was implemented to reduce the business owner’s risk and introduce a proactive approach that encouraged early payments, saving thousands of dollars in the first month alone. This simple review of payment methods increased cash flow and resulted in a higher net profit overall.

When payment cycles run into 60-90 days, you become the bank for your customer, creating an unhealthy relationship that needs to be attended to asap.  Don’t be put off by encouraging your customers or clients to pay on time – when a prompt payment strategy is implemented in the right way, it can build a strong and empowering relationship between the business and the customer.

Another business owner is ready to ramp up their business…

Three years after its establishment, this business is travelling well – it’s profitable and the partners work hard and long. Their aim is to prepare the business for an exit strategy, so there needs to be an assessment of what’s working and what’s not.

After a review of the business, we identified several systems not working as best they could – in particular, the management of client relationships and the creation of strategies to build greater loyalty from clients. We worked together to customise a follow-up process so that the transaction didn’t end once the account was paid, creating better rapport for the after-sales service.

Business owners can spend a lot of time looking for new business, when often it’s just under their nose. Relationships are key in business – you need to develop these so your clients and customers don’t dream of going anywhere else.

We also looked at financial efficiencies and noticed that even though there was a budget in place, it wasn’t being reviewed or considered against forecasted and actual numbers. This is a critical step to developing better efficiencies and making the business work harder on its profitability and expenses. It also works in harmony with setting targets for the staff and directors. A 50 per cent increase was allocated, and actions set to achieve this outcome.

Business owner is terrifyingly successful, and business is growing crazily…

After 10 years in business, is there nothing this business owner can do wrong?  But while business is booming, something is missing. He feels empty and his passion is waning, which means it’s time for a reality check to set him up for the next 10 years.

I’ve worked with this business owner on and off over a decade so my knowledge helped me to fine tune my strategy with greater accuracy.

We conducted a reality check which very quickly identified what’s going on and helped us to establish resolutions and actions. A business owner is often way too close and cannot see the forest for the trees – my clarity comes from the distance I have and the vision I gain from a helicopter perspective.

This exercise had tremendous results for re-targeting and positioning some personal perspective again. The business owner reclaimed more of his time and actioned a promotion which took extra tasks off him, helping him to retain the motivation and inspiration that is necessary to drive forward business outcomes that result in further lifestyle choices.