Running and managing a business provides many opportunities, challenges and risks, and when all goes well running a business really can be a great adventure. The question is how do we really know when all is going well and that a business really is succeeding?
This may seem like a strange question, but unless a business has a stated plan of expectation in place, how can it measure its success? Most businesses don’t plan and apparent success is determined by a number of factors – year-end stated profitability, cash-flow liquidity, order-book activity or any number of other subjective measures.
Business planning is a far more accurate and reliable means of measuring success, whereby management take the time to consider what their future ambitions and expectations for the business are over a given period and to then create a financial model that will provide an invaluable source of information that not only provides for future outcomes to be anticipated, but also the visibility of actions required in order to make plans into reality.
Team Management are experts in business planning - working with your management team, and listening and discussing their ambitions and expectations, we are able to create a simple but accurate financial model for trading supported by relevant business strategies and tactical support to provide the best opportunity of operational success.
Working with your team we provide periodic (typically monthly) management trading reports and analysis to identify opportunities for improvement, along with advice as to how such improvement can be implemented, the result of which will not only be a better and more profitable business, but success in knowing what you are striving to achieve and the satisfaction of achievement.
Planning the future strategy of a business is the most important task of management, making it happen is so much easier when there is direction. Businesses that plan are not only more successful, and more profitable - they are also more sustainable.