What is a Business Review?
In the current economic climate many small business owners and managers are faced with the daunting impact of economic decline and a significant shrinking in their market size. With this in mind Avid Partners Accountants & Business Advisers launched their new service profile – Business Review. The business review service has successfully supported business owners and managers in several different sectors in returning their business to increased sales, profitability and improved personal wealth.
The objective is to use some structured time away from the flow of business activity to assess how the business should move forward. The process is designed to enable a clear consensus to be established on what needs to be done, based on thorough analysis of the current position and available options for developing the business.
Clients request Avid Partners Accountants & Business Advisers to assist them carry out such a business review because it’s hard to do it by yourself. Bringing in an experienced outsider can challenge you to think deeply about each stage of this process, and come up with much more valid conclusions.
In depth analysis of the business will look at the following areas relating to the business:
- Industry, market sector, trends and key success factors
- Competitor performance, advantages and differentiators
- Company products, services, distribution and structure
- Sales results, market share and client profitability
- Marketing strategy performance, mix and budget
- Organisational resources and competences
- People, training and investment
What are the key benefits?
- An independent assessment by an expert
- Increasing the sales performance of the business
- Increasing the bottom line performance
- Improving cash flow and the management of working capital
- Written roadmap and strategic plan for the business, supported by a strategic review
- Increased cost efficiencies through a finance review
- Learn how to “Make more money”
What is involved in a Business Review?
1. Where Are We Now?
This stage involves analysing the company’s strengths and weaknesses, how well it addresses the needs of buyers and markets, and how it compares with its competitors. An assessment of operational effectiveness will be done, that looks at people, processes, and organisational responsibilities. The purpose is to establish a solid and agreed start point for the remainder of the project. This stage often highlights differences of opinion between people within the company, and builds consensus about what needs to be done, and why.
2. Where Could We Get To?
In the second stage, the strategic review options are identified. Research and analysis includes the sizing, profiling and segmentation of markets, and considering the options available for development of products and services through options such as organic growth and strategic partnerships.
3. Where Should We Get To?
Based on the analysis in the first two stages, a selection of the appropriate objectives can be made from the strategic review options that are available. This includes the selection and prioritisation of the initiatives that will be required. Deeper research into the chosen market opportunities is often required in order to complete this stage effectively.
4. How Do We Get There?
In the final stage, an operational plan is developed, based on the differentiated value proposition that has been developed during the first three stages. The offering to each market or market segment is defined. The requirements for the development of the company’s people, processes and organisation are defined. Targets are established in this stage, along with the definition of the metrics that will be used to evaluate success.
What Do You Need to Do?
Our Business Review can help increase your sales, improve cash flow, generate cost efficiencies and provide you with a written roadmap and strategic plan tailored to your business, thereby helping you make more money. A Business Review, Strategic Review and Finance Review are all incorporated in the process
If you think your business could benefit from a Business Review by Avid Partners Accountants and Business Advisers contact us today. Our review is normally carried out at your business premises and can be completed in as little as one day with minimum disruption and cost to your business while generating both short and long term benefits.
So are you willing to spend some time working with us to improve your business?
Contact Avid Partners Accountants and Business Advisers today to arrange your Business Review.