Business development

Our approach to business development

Successful businesses generally happen by design rather than default and a good idea of what you want to achieve and how you intend to do so is vital if you want to drive your business rather than sit in the passenger seat. We believe that there are four key areas to be addressed as follows:

Goals

Whether you are starting a new business or developing an existing one, having a clear idea of what the business should look like over the next 3 to 5 years is vital to enable you to direct resources and judge progress.

With a start up business you will have a blank canvas and will need to consider everything from the fundamentals of what the business will do and how and where it will do it to the financials such as what turnover it will generate, what profit it will make and what investment it will need.

With established businesses, unless you are planning a major new service or acquisition, most of the fundamentals will be in place and the likely development plans will be aimed at growth and efficiency.

We can help with all aspects of goal setting including the building of financial forecasts to model what the planned activities will look like. We can also benchmark existing businesses against their peers to highlight areas for improvement.

Management information

Knowing where you want to be is not much use unless you know where you are. Timely, accurate and relevant management information covering all aspects of your business is essential to make sure you are on track to achieve your goals. Knowing what profit you made last month is a good start, knowing exactly which products and services generated it is even better.

We can help you select and implement the right accounting system for your business.

Plans

Once you know where you are and where you want to be, you need to have a plan of action to move you in the right direction. There are four main areas to consider:

  • Marketing
  • Operations
  • Finance
  • HR

We work with a number of speacialist consultancies and can help you define your plans in each area.

Review

Regular review of where you are compared to where you want to be is necessary to ensure you are on track to achieve your goals. The earlier you can detect issues, the easier they are to correct.

We can help you to define the Key Performance Indicators for your business and set monthly targets for each which can then be compared to actual results.