Too much time ‘in’ your business; not enough time ‘on’ your business? Familiar?
This is a common problem for business owners striving to deliver on business ambitions and objectives. How do you make decisions? Finger in the air? Gut instinct?
Business health checks give you data and evidence that underpins crucial and informed decision-making. This information will form the back-bone and allow you to scenario plan the options going forward.
We all know the importance of numbers but our health checks drill into, and interrogate, your 1) income, 2) cost of sales or delivery and 3) overheads from every angle. No stone left unturned, nothing left out. We delve into the usually ‘hidden’ costs that service industries do not always include. We calculate overheads by the year, month, week, day or hour; if you charge by the hour, you need to know costs by the hour!
When we have finished analysing these three numbers, we can be confident that we have a true picture of your current business ‘as is’.
Some interesting insights from previous clients:
- One business was on the brink of geographical expansion only to show evidence that 70% of their income came from just 3 geographical areas.
- We have worked with a large consultancy firm who never calculated their onboarding/exiting costs when hiring out a consultant; this artificially inflated their profit margin by circa 15-20%.
- Are you a service provider with ‘dedicated’ spaces? One spa had a dedicated tanning ‘booth’ that brought in just 5% of the income.
The list goes on! The first part of the journey is the most challenging, but also the most rewarding, and the benefits are enormously empowering!
If you would like to know more, contact Khlayre Cairney: