GROWING YOUR BUSINESS
Do you want to grow or improve your business?
NBC are leading Xero and tax accountants, CPAs and Business Consultants based in Brisbane and can help you make it happen. Growing your business can seem overwhelming but we will make the process as simple as possible and help you achieve your goals.
Staying on Track
Keeping you focused on the business’ priorities and executing these in a timely manner can be challenging. To assist with this we meet* monthly, quarterly or on an ad-hoc basis and are always available for you to contact when required.
- review how the business is performing relative to your goals, plans & budgets,
- make sure we understand where you are at,
- discuss the issues and opportunities,
- celebrate the wins,
- reprioritize your action plan and
- provide practical & independent perspective to assist you in making timely and informed decisions.
*meetings can be face-to-face at our office, via Skype / GoTo Meeting or simply over the phone. Subject to your needs, meetings range from informal discussions about issues and priorities to more structured and formal “Board of Management” meetings with set agenda’s and reporting processes.
Strategy and Budgeting
Profit, cash flow and shareholder value are the primary goals of business owners.
To achieve this you need satisfied customers and a sustainable business model. What are the drivers of your sustainable business?
Effective business management requires:
- a simple and practical one-page strategy that you can refer to daily/weekly/monthly to keep you focused on your priorities and where you want to get to (like a road map).
- a workable cash flow budget that can be routinely reviewed & updated to monitor your progress (like your fuel gauge).
- flexibility to adjust your plan to take advantage of opportunities and or deal with issues at short notice along the way (like taking a detour or changing gear).
Our strategic planning workshops deliver a one-page plan that will focus you on the measurable actions and activities required in the elements of your business that lead to satisfied customers.
Our cash flow budgets deliver a practical guide to routinely compare, review and update actual to forecast cash flow performance.
Routinely monitoring and updating both your cash flow budget and action plans enables you to assess your progress and make timely and informed decisions.
Monitoring performance is about knowing how you are progressing relative to your goals, so you can adjust your plan or focus accordingly (just like the scoreboard and stats during a cricket game or the competition table of your footy team). Don’t wait till the game is over or the end of the season to ask questions or make a decision.
Question 1: How well is your business performing today?
- What drives your profit & cash flow?
- What are your LEAD indicators?
- How sensitive is your performance to variability in these drivers?
- Which handful of key performance indicators (KPI’s) really matter in your business?
Knowing these will help you understand what you need to focus on. Take a step forward and ask us for a Business Health Check.
Question 2: Can you routinely measure & monitor the actions and outcomes critical to your business performance?
Business owners that can are more aware of their progress, confident and have the ability to make timely and informed decisions and take action. A practical customized KPI program to enhance the ongoing management of your business can be designed and implemented by our advisors. Ask us for a demonstration.
Lead vs. Lag:
Understanding the drivers (Non-Financial KPI’s) or LEAD indicators of the desired outcomes in your business is critical to managing your operational resources and keeping your team focused on the priorities. It is the lead indicator activities that generate the financial outcomes (Financial KPI’s) or LAG indicators such as profit that are important to business owners and stakeholders.
Our advisors design and implement customized KPI programs by combining their understanding of the operational and financial elements of your business, your plans and goals and their specialist capability using the industry leading management reporting and financial analysis tool, Fathom.
These KPI programs include analytics, management reporting, customized dashboards, multi-site or group consolidations and benchmarking.
A clear understanding of the current & potential value of your business and the underlying factors that drive that value is essential to your planning, allocation of resources and future financial goals.
Business valuations provide a measure at a given point in time. The business valuations we conduct provide a valuation of the assets and liabilities of the business based on the associated capitalization rate.
Routinely comparing your business value to your desired sale value in the future or the optimal potential value provides an assessment of the value gap in your business enabling you to review your strategy to reduce this gap and prioritise accordingly.
Other Specialist Services
Discussing and understanding your needs often means we identify specialized services and requirements that are outside of our capability.
Our advisors have a broad network of contacts and people/businesses to whom we regularly refer clients for services such as finance & banking, legal, human resources, branding & marketing, IT, sales training, recruiting, insurance, franchising, and the list goes on.
If you have a need just give us a call. If we don’t directly know the type of person you’re looking for, more often than not we’ll know someone who does.