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Services (4)

  • Business Health Check

    Our Business Health Check is a series of 90 questions covering 9 business functions that will provide your business with a detailed score. It will show you areas of opportunity and development. It is completely free of charge and is managed by one of our Business Consultants.

  • A Discovery Call

    A 20 minute discovery call where we can run through the opportunities and the issues you are facing in your business. This is a free of charge discovery call with no obligation. We want to know how we can help and to then offer you a more in depth meeting, usually over Zoom or Teams, again free of charge with no obligation. We see this as out investment in to you and your business, after all we need to get to know you and your business. Then if both parties wish to move to the next step we will show you through this process. We look forward to speaking with you soon.

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Blog Posts (9)

  • Do you have a solid Exit Strategy?

    An exit strategy is a pre-prepared plan that allows you to exit your business in the best possible manner. As a business owner wanting to either liquidate your position in a financial asset or to remove yourself from an investment or responsibility and directorship. With a number of choices to make: · Reduce your ownership of a business · Give up a level of control within a business · Sell your company and or your investment in one · Close your business due to a momentous change in your personal landscape or in market conditions · Sell an unsuccessful company to minimise your potential losses · Sell a successful business and maximise your exit value · Retain interest in your business but remove yourself from daily activities When planning what exit strategy you want to take and as with every type of business planning, time, team and money are the key essential elements. Planning will give you more choices and more objectives and working with someone to plan your exit should open more choices. In the period before your exit from your company, you may be able to set an improved financial position, such as increasing your personal salary, dividends, or bonus. This is of course if the company position can allow for this extra cost. A sale of your shares to other shareholders allows you to exit easily and without further obligation. You could consider liquidating the business assets at market value and use this money to pay off any obligations you are committed to and retain the balance for yourself. Merge your business with another business or let another business acquire yours. Sell the business outright to another business or entrepreneur. Pass the business on to another family member. A well-defined and well-executed exit strategy will help you to exit your business in the manner of your choice and usually on your timeline. Valuing a business at exit is often seen as a difficult calculation to make – a business may only be worth what a buyer will pay for it, or you may feel that an industry multiple of your EBITDA may be appropriate. What is certain is that if the business is weak in certain areas either your potential buyer will find and try to exploit this once they have completed their due diligence process, or they will pick this up when speaking to staff or people with knowledge of the business. After all if you have made a job for yourself within your business and the business does not function without you why would anyone pay full price with a perceived level of risk. Knowing if you are in this position and what to do about it is again in the qualification and planning of your exit strategy. There are some simple indications of having built yourself a job in your business, which many business owners do, such as – the hours you work – the time you can take away from the business without problems – your remuneration in comparison to your effort – the decision-making process being with you for all major decisions and your relationships with clients and suppliers. If you tick all or most of these boxes, then in reality it is likely that you have built yourself that job which risks your exit value. To address this situation and minimise the opportunity for a prospective buyer if the business may take some time but most certainly will take some planning to address each situation. Whilst this is a common position it is overcome with the correct planning and time given to it. In addition, maximising bottom-line results is key to building value and again many business owners who are too busy doing their job are likely to have missed opportunities to make changes to improve results. These improvements are often in the power of several minor change actions which collectively can make a substantial difference. A review of your business financials can reveal these and a plan to put change into action over a period would be a great pre-sale investment. Other key considerations in the “What If” exit plan include: Ill health and family issues all of which in their various forms can adversely affect business focus and efficiency in running the business. Consideration and planning can minimise your risk. Economic recession – these days the risk is clear and mostly outside of the business owners’ control but again a detailed planning session will highlight issues and risks which can then be addressed in the best way. An unexpected approach from another business or entrepreneur who makes looking to acquire your business may catch you at a weak point especially if you have not planned your exit fully and have your business in the best position. Your strategic direction will take your exit plan into account and the decisions you make will and should be influenced by this. Decisions made around your premises, your staff, your cash position, your assets and liabilities position, your market conditions, your competitive landscape, your health, your age, your family and your personal goals and objectives are all considerations you should take into account. We see so many business owners who have a “kind of plan” in their heads without any real substance and do not particularly have time on their side is very commonplace. Think for a moment the average life span is say 80, work back from there 5 to 7 years to early 70’s with a potential retirement age of 67 then the maths is easy 5 to 8 years to enjoy the next chapter in your life. Would it not be a clever idea to start planning now giving you sufficient time to get things right after all the best-laid plans can and do get changed. But to not have a defined plan and your options to hand is only doing yourself an injustice – surely? If you would like to talk to us about your exit strategy, then book an appointment now – Tel 01235 886222 – email info@actbusinessconsultants – www.actbusinessconsultants.co.uk

  • Avoid the status quo!

    One of the most prevalent, and common everyday biases in decision-making is the adherence to the “Status Quo”! This can be easily categorised as “inertia”, which determines that people will prefer to have the same things, the same outcomes and therefore the same position. The issue is that when the anticipated value of change is not clear, easily understood, qualified, planned or seen as attainable it is often seen as an insufficient value to risk a change! This is particularly true when considering a business decision especially when the benefit of making a change is not seen or valued as considerable in terms of outcome or benefit to the business or business owner. Understanding why the Status Quo is so prevalent is key in evaluating change or proposing change. When considering why people in the main are inherently programmed to be “loss averse” – by explanation people tend to migrate to placing a higher value on retaining what they have as opposed to what they might have by acquiring a gain. The majority would prefer to retain the £50.00 in their pocket by sticking to the Status Quo as opposed to winning £100.00 and not having to make a change to acquire the £100.00 win, even if the opportunity to win £100.00 is, in reality, a qualified and worthwhile risk. The concept of “Spent Cost” is a cost that has already been spent and therefore cannot be recovered. The outcome of this spent cost will be the same as it is i.e. it has been spent and therefore not recoverable! Therefore looking at the suggested spend against the expected increased benefit in terms of a new ROI will require a change of direction and a change in previous thought processes including attitude to risk. A better-expected outcome with a change of risk profile. Changing from previous commitments, strategies and tactics to achieve a new level of success will usually place pressure on previous decision-making processes and commitments given. However, this very situation happens frequently in all sizes of organisations - for example, in the car industry where manufacturers change models, improving on design, features, benefits and performance of previous models. Benefits include the ability to increase product pricing, product margin, market share, consumer perception, brand loyalty, and environmental credentials. The heartbeat of a successful business. If you would like to speak to a business consultant at ACT Business Consultants then - www.actbusinessconsultants.co.uk - info@actbusinessconsultants.co.uk - 01235 886222

  • Sales Success

    Building your sales revenues is one of the critical keys to your future business success. Most businesses need to have a solid, predictable, managed and highly developed sales process and a competent team that is completely aligned and integrated into the other operational aspects of the business is an integral part of growth and profitability. We know for many businesses that 80% of sales will come from 20% of your clients – 80% of your sales will come from 20% of your products or services – 20% of your sales effort will be spent on the 80% of clients that deliver 20% of your sales! In addition, many businesses suffer from: - 1. falling or stagnant sales revenues 2. competitive price pressures 3. a race to the bottom on price 4. poor service levels as a result 5. weak customer retention and customer churn 6. inability to attract new customers At ACT Business Consultants we guide our clients to improve every aspect of their sales function – how do we do this: - · Review the current sales process to determine if it is delivering optimal performance · How to build the right “client persona” for your business · How to identify and engage with these new prospect clients · Get more from your existing clients · Build more referrals from existing clients · Align the 80/20 rule in your favour for your competitive advantage · Optimise prospect and client acquisition strategy · Define and implement a consistent sales process · Improve customer experience to cement customer loyalty · Improve prospect to client conversion rates · Build the number of SQL’s (Sales Qualified Leads) · Improve opportunity qualification and alignment · Build high converting and personalised product/service proposals · Strengthen objection handling and negotiation skills · Implement highly focused closing techniques · Develop a bespoke pricing matrix to manage costs, margins, and net profit By having a truly professional sales function that is aligned to other operational aspects of the business sales revenues will rise, client satisfaction will increase, and client retention and referrals will escalate your business performance. As Stephen R Covey suggests when planning your sales function start with the end in mind and work backwards to your current position. If you would like some assistance to do this, then a call into ACT Business Consultants is a great place to start – 2 initial free-of-charge meetings with a business consultant will help you to determine the next steps toward your objectives and how to get there with confidence. www.actbusinessconsultants.co.uk – info@actbusinessconsultants.co.uk – 01235 886222

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Pages (11)

  • | ACT Business Consult

    Home Improvements Company Initial Objectives To provide a range of “Exit Options” – our client, a successful business operating in the home improvements market with the client wishing to exit the business at a future point. He flet he had few options other than to close the business when he achieved a certain age. ​ The issues faced included: Over reliance on the business owner, who made all the decisions, took all the risk, worked longer hours including weekends, missed out on other activities including family time and did not take the remuneration to reward his input. ​ We built out a number of exit strategy options for the client and were able to demonstrate what change was needed to meet his objectives. To do this we defined his personal and business objectives and built a strategy to a re-align his position within the business, which included a major personnel hire. Someone who he could trust to make similar decisions to his, take on responsibilities and provide reports to demonstrate that the business was able to function with success with less of his time input. ​ Over and above these initial objectives our programme resulted in business growth, improved margins, a level of systemisation, improved marketing output with increased enquiries and higher conversion rates, significantly improved business reporting and therefore business insight.

  • | ACT Business Consult

    Aviation Company Initial objectives To reverse a decline in operation profit, build an improved in bound and out bound marketing process to attract additional clients, conversions, and sales revenues. ​ An initial SWOT analysis showed several stress points in team activity, responsibilities and an over reliance on the business owner who was unable to cover monthly overhead costs and needed to dip into other personal funds to keep the business afloat. ​ A new strategy was implemented to encompass all operational activity, planning, organisation and address the issues within the team performance. An automated system of prospect management resulted in significantly increased enquiries, higher conversion rates using an automated pre-qualification process and therefore vastly improved monthly revenues. ​ This business was elevated to enjoy a sector leading position and a “Go To” position for commercial and hobbyist pilots.

  • | ACT Business Consult

    Medical Distribution Company Initial Objectives To address a continuing decline in sales revenues within the UK market, to then grow revenues and therefore reputation with European Head Office. ​ The issues faced included: ​ A team of very capable people slightly bruised by a recent takeover that had issues with their business direction, decision making, available information, expectations, and team structure. ​ After a complete SWOT analysis of the UK company and business and with the unexpected resignation of the long-term MD we were able to restructure the team, building out a strategy to promote a new MD from within the team with acceptance from Head Office. Re-structure the sales and client facing team, implementing a new CRM system, and reporting system. We assisted in the recruitment process, monitoring of performance against newly established targets. ​ The outcomes have been a significant increase in sales revenues and profitability, an increase in team numbers, a new culture of success and a recognition from Head Office.

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