Business planning is one of our most popular services as it is such an important part of driving business success. The following case study demonstrates the benefits of developing and executing a business plan.
What gets measured – gets managed and done!
One of our clients had been in practice 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. When he first contacted us his revenue was not increasing and his profitability was in decline.
When Best Practice Consulting began working with him, his plan was in his head and he informed us that he wanted: 'to deliver excellent service to his customers, have a well run and efficient practice, to make more profit and spend more time with his family'.
This information was used to develop a concise two page business plan which had measurable objectives and specific strategies.
With the assistance of some of his key staff, we implemented the strategies in the business plan and we have seen a dramatic change in his business revenue which increased 49% (or $845,508) and a substantial growth in operating profit - up 48% (or $229,305) over last year.
This is a great example of using a business plan to bring focus to the practice and deliver the saying 'what gets measured - gets managed and done!'