Services available from Chris Bird...
Business Planning
From detailed discussion with the directors and managers, collate the information to build the business plan. Liaising between sales and production to ensure both sides meet the business targets. Ensuring that all appropriate costs are included (staff numbers, raw materials, fuel) for the level of business activity being planned. Analyse the income and expenditure timings to build the cashflow for the business and identify when and how much funding may be required. Produce comprehensive budget and forecast to support the business plan.
Raising Cash
Armed with the Business Plan, approach banks, investors, current stakeholders and financiers and present the case for investment in the business. Demonstrate that their support of the business is justified and that the business will grow. Show the IRR, repayment profile and growth of the business.
Management Information
It is imperative to achieve the cost savings and increased profit that management are receiving good accurate management accounts, that measure the business performance against the business plan and objectives. Set KPIs (Key Performance Indicators) by which the management can keep their finger on the pulse. Investigate the differences between the budget and actual trading - what is the good news, where is the bad news.
KPIs
Design a set of KPI (Key Performance Indicators) that can be produced quickly and easily to give management a first glance indication of how the business is performing. Example KPIs are:
- No of Orders Received
- Value of Orders Received
- No of Sales
- Value of Sales
- Cash Balances Payroll
- Hours worked
- Production Hours
Increasing Profitability
Review the current trading, analysing performance to determine the profitability of each product. Where products are not profitable, look at ways to make them profitable, raise prices or reduce costs. In a business with several products or services, it is important to know the relative performance of each product, service or business stream. This will enable management to make decisions as to where to invest time and money developing new products and what to stop producing.
Cost Reduction
Look at the business from an outside perspective and eliminate waste. A review of the way things are done will probably reveal efficiencies and cost savings. Review the staff costs in conjunction with their productivity. Investigate costs of utilities.
Streamlining Financial Systems and Procedures
Carry out walk through tests to see how the business’ procedures, systems and controls are set up. Do the systems and procedures ensure that all enquiries are properly handled and not lost? Will all receipts be recorded accurately and banked? Are staff performing tasks for no real purpose? What is the most efficient way of processing sales orders? Are the computer systems being used to their full extent?