(5 Topics)
1.
Failing To Plan
Is Planning To Fail
This topic covers the benefits of
developing a business plan in gaining increased control over business
operations and improved opportunities to step back and work ON rather than
IN the business. Describes how to create a complete plan for the business or
just a set of action steps covering the critical areas of operation.
The business plan is an excellent tool in defining your personal assets and liabilities, describing the competitive conditions in your market, your financial needs, ways to promote your products and services, and assess the skill sets your team needs to be most productive.
From this topic, your clients (or your team members) will learn the key steps required to create a plan document for their business and how to use it in their sales processes, to aid in inducting team members, to deal with banks and other capital sources, and to educate new suppliers about the nature of the business.
Looking at the business as a value chain
provides an approach to reengineering the business in a manner that will
improve profitability and competitiveness.
This BGR begins by explaining Michael Porter’s concept of the value chain.
However, it is primarily a case-based presentation demonstrating a number of
real life instances of businesses who have radically altered the way they do
business by evaluating how their value chain was working.
It also covers some of the current techniques being used such as extended
enterprise management and vendor-managed inventory.
3.
Professionalizing The Family Business
Family owned businesses make up a major portion
of the economy. On the other hand they are volatile and account for the
large majority of business failures. Sadly, the figures for successful
transitioning between generations are not optimistic. Only 30% of family
businesses make it to the second generation, 12 percent to the third, and
three percent to the fourth.
What are the reasons for failure? Can they be minimized? The answer is ‘Yes!’
This BGR explores these
topics and offers a number of ways in which family owned businesses could
become more professional in their approach to business to promote their
likelihood of survival.
The SWOT (Strengths, Weaknesses, Opportunities, Threats) analysis is a systematic diagnosis of the external and internal factors that effect the profitability and market success of any business. By looking at both the negative and positive elements simultaneously it provides a simple, rounded perspective on evaluating a particular business idea, an area of operations, or the business as a whole. It can also suggest strategies for responding to the situations you will uncover - how to build on established strengths, minimize weaknesses, seize opportunities and counteract threats.
A well developed business plan helps an
owner/manager to focus on future business success and assists them in
harnessing all the necessary resources to achieve that success.
It is a well documented observation that most businesses do not plan to fail
– they simply fail to plan. Having the ‘hows and whys’ of their business
documented provides a powerful focus to help them achieve success. It also
provides a monitoring tool to measure progress towards goals.
A further importance is that banks, governments and business partners are
increasingly requiring business plans to support their decisions relating to
lending and providing financial assistance.
Accountants and business advisers are not only the natural partners to
assist business owners create their plan but also the best people to work
with them in ongoing implementation, the creation of financial forecasts and
the monitoring/reporting of results.