Your business has been operating successfully for some years, with reasonable profits each financial year that are relative to the overall state of the economy. Your staff members are competent at their jobs; customers comment on the quality of your products and services, and repeat business is solid.
Have You Noticed Problems in Your Business?
It is disconcerting then, when you realise that despite these indicators, the business is not growing at a rate comparable with competitors. Also, you notice that customers are taking longer to pay their accounts, thus putting pressure on cash flow. On a walk through the workshop last week, you saw an increase in wasted material and stock sitting on shelves that should be almost empty.
Over the years, many of our clients have described similar situations about their own businesses, some of them leaving the discussion with us until they have suffered their first major loss. What we offer clients in this situation is participation in our Business Health Check, a program offered by Charter Partners to get struggling businesses back on track.
Identify Waste and Underperformance with a Business Health Check
As the name suggests, the program checks critical aspects of client businesses to identify areas of waste and underperformance. As part of the process, business operators gain additional financial skills they will continue to use long after the program has finished.
We thoroughly analyse your business processes and deliver you a report complete with full instructions on how to increase profitability. You receive a detailed financial scorecard about your business, not a vague overview using statistics that could apply to any business in your industry.
Diagnostic Reports Show Trends – Projected Data Shows Potential
Step-by-step, we walk you through the diagnostic reports, flow charts and graphs we have prepared, pointing out trends and offering explanations. With the key financial drivers of the business now identified, we run ‘what-if’ scenarios with you, showing the likely outcomes of any changes you may decide to make. This is backed up by annualised and projected financial data on the potential of your business.
Management Gains Valuable Financial Skills
In the process of being immersed in this financial data, business operators see first-hand the benefits of this type of detailed examination. It is here that they gain the most in terms of additional financial skills, giving them the opportunity to evolve these techniques further and include them in their regular suite of business reporting tools.
The Value of ‘Lead Indicators’
The program shows business owners the value of creating reporting systems that provide daily information from key operational areas. These ‘lead indicators’ alert management to issues as they are happening, giving them the opportunity for corrective action before long-term damage has occurred. If you think this early intervention could benefit your business, we are ready to talk.