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Definition:
Process by which we work with our clients to focus on areas of the business
to increase its value and profitability.
Benefits:
The planning process increases profitability, the value of the business
and its marketability. It allows the business to become less dependent
on the owner. This creates an enhanced quality of life for the owner and
increases the value of the business.
Process:
- Begin
with an exercise to explore the potential of the business.
- Client
completes a “Business Development Questionnaire.”
- A one-day
business “Planning Session” is scheduled and conducted with
the owner and select team members of the business.
- Action
Plans are developed with performance measures.
- Scheduled
meetings are established to monitor the performance measures and to
ensure implementation of the action plans.
Case Example:
A manufacturing client of ours, with one owner, had been in business for
15 years. The business was profitable but growing below the average for
its industry. The sole-owner, in his mid-40s, was noticing that when he’d
come back to the office several team members would be waiting with questions
and looking for direction. He was also finding it difficult to take a
vacation. During an exploratory exercise we found that if the business
could increase its number of customers by 10%, increase the average number
of transactions from each customer by 10%, decrease the defection rate
of customers by 5%, and increase the average transaction value by 10%,
profits would increase by 21.4%. The question was, how to make all of
this happen. During the planning session, we identified 3 key areas to
work on to help make the 21.4% increase a reality. The group developed
Action Plans for each area and teams were organized to implement the action
plans. The end result was increased profitability, less owner reliance
and an increase in the value of the company.
Business Development Planning Services
Documents available for download in .pdf (Acrobat)
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