"Don't let your revenue and business performance stall - discover how we kick started a business for an $845,000 turn around"

As businesses grow from small to medium sized, they do not always make the necessary changes to facilitate continued performance. Often business revenue and performance plateau and then they find it difficult to kick start their growth again.

This was very much the case with one of our clients. He had been in business for over 10 years and he had developed a successful business, but worked long hours and felt his overall return in profit and salary was not commensurate with his effort and time invested. He was also concerned that the hours he worked impeded spending quality time with his family.

"The size of our business had expanded and the staff had moved on. The ways of communication which worked so well in the small firm did not work as well with the larger, less personal and initially less cohesive team. Communication was strained, the practice was busy but levels of profit were not being maximised and lastly there was no clear vision for the short and long term. In addition, I did not feel that I had the necessary skills to put into practice to achieve what were fairly ambitious goals".

Best Practice Consulting was engaged by business to undertake a Business Health Assessment. The assessment revealed the following issues:

- Customer service was below standard.

- Staff were not being utilised productively.

- Revenue had stalled and profits had dropped markedly.

- Financial controls were loose.

- There were no documented processes.

- The business was operating inefficiently and this meant long hours for the owner.

- Communication within the practice was poor.

 

Best Practice Consulting was then engaged to implement a comprehensive change management program which involved:

 

- Creating a business plan and budget.

- Implementing a number of specific business development strategies.

- Improving work scheduling processes to increase staff utilisation.

- Streamlining key processes and eliminated non-value adding activities to improve operational efficiencies.

- Introducing Occupational Health and Safety compliance procedures.

- Establishing roles and responsibilities for staff.

- Focusing on cost control, especially inventory.

- Delivering staff training.

 

"Best Practice Consulting has assisted in many ways. Firstly they are personable, friendly and approachable. The varying experiences of Andrew and John make them a formidable combination. After a financial assessment which addressed profitability and ways to improve this, all processes in the office were formalised and documented so that corporate knowledge was not completely lost if a key staff member left. Short and long term goals were established and with ongoing reviews these goals have been exceeded".

 

Our client has been amazed with the result we have achieved:

- Revenue grew by 49% (or $845,508) over the prior year.

- Operating profitability grew by 48% (or $229,305) over the prior year.

- Staff turnover decreased.

- Fee earning staff utilisation increased from 65% to 85%.

 

"Working with Best Practice Consulting has provided more control, more knowledge of what is going on and an increased confidence that the business side of the firm is well controlled, greater profitability and a better vision of the future".

 

Click here to see how our business health assessment could benefit your business