‘Get me more profit’.
My client and he is wife attended a seminar I ran on business systems and a meeting was arranged at their small, country town workshop.
Having backed themselves to go out on their own, open a business and trade successfully for a few years, they were now looking to get themselves in a position to grow, have more capital, invest in property and simply takes more holidays.
Let’s be clear on what we know and what we don’t know.
We started by creating a business plan and looking at the key areas of the business and how well they did or didn’t work [finance, marketing, sales, operations, management].
With a clear plan of action in place, we would meet monthly to review results and assess how the business was performing financially and in terms of the action plan.
Shows what you can achieve with a plan.
- Both turnover and profitability were improved.
- Issues around cashflow were tackled by toughening up on recidivist late payers.
- Positive cashflow forecast modelling was developed.
- The business outgrew the original premises and moved to a purpose-built location, close by and twice the size.
- My client became the number one supplier in what is a fast growing country town.
- New apprentices were recruited and trained to do things the right way.
- More holidays were taken!