Posted on 12/05/2016, 14:54
This business had been trading for twenty years and had performed adequately but without real success. The owner believed that much better results were possible but was not clear how to make real positive change. Board meetings were being conducted but didn’t seem to be making any impact.
On the invitation of the owner/manager, we attended a board meeting in order to understand better what was going on. It was clear that there were some serious issues with the way the meetings were being conducted which included:
The directors became much more aware of their business model and of the facets of marketing and finance. The process took 7 months and the business is now delivering significantly more net profit per month.
In or last article, “Measuring What’s Important” we discussed key performance indicators or KPIs. There are lagging KPIs such as financial measures that tell you what just happened and leading KPIs that indicate what your financials are likely to look like.Read More
Following on from our previous blog in this series, “The Most Important Thing”, the next step is to translate your goals into action. For this, setting your targets and measuring your performance against them is vital to making them happen.Read More
What do you want to achieve in your business? Every owner manager had their reasons for why they started out on that journey – what are yours? And more importantly, are they still valid, are you on track, or are your hopes and desires being frustrated?Read More