Post on 14-Dec-2015
transcript
How to Grow Your How to Grow Your BusinessBusiness
How to Grow Your How to Grow Your BusinessBusiness
Larry N. Harrison & Co.CPAs & Consultants
Larry N. Harrison & Co.CPAs & Consultants
Growing your businessGrowing your business
Ouragenda
Ouragenda
•We’ll look at your profit improvement potential (PIP).
•We’ll do that by examining the 4 ways to grow your business.
•You’ll look at a 12-minute video.
•We’ll set aside time for a much more detailed Planning Session.
•We’ll look at your profit improvement potential (PIP).
•We’ll do that by examining the 4 ways to grow your business.
•You’ll look at a 12-minute video.
•We’ll set aside time for a much more detailed Planning Session.
Click here to find your PIPClick here to find your PIP
The 4 ways to grow your businessThe 4 ways to grow your business
1111Increase the number of customers …… (of the type you want to have)
Increase the number of customers …… (of the type you want to have)
The 4 ways to grow your businessThe 4 ways to grow your business
2222 Increase the transaction frequency
Increase the transaction frequency
The 4 ways to grow your businessThe 4 ways to grow your business
3333Increase the average
value of each saleIncrease the average
value of each sale
The 4 ways to grow your businessThe 4 ways to grow your businessThe 4 ways to grow your businessThe 4 ways to grow your business
4444Increase the
effectiveness of each process in your
business
Increase the effectiveness of each
process in your business
Growing your businessGrowing your business
Ouragenda
Ouragenda
•We’ll look at your profit improvement potential (PIP).
•We’ll do that by examining the 4 ways to grow your business.
•You’ll look at a 12-minute video.
•We’ll set aside time for a much more detailed Planning Session.
•We’ll look at your profit improvement potential (PIP).
•We’ll do that by examining the 4 ways to grow your business.
•You’ll look at a 12-minute video.
•We’ll set aside time for a much more detailed Planning Session.
Click here to find your PIPClick here to find your PIP
Growing your businessGrowing your business
Keyquestions
Keyquestions
•How do you feel about those numbers?
•How would you describe the effect if we could do that over a period of years?
•It might mean an initial investment of $3,500 in some planning. How do you feel about that?
•How urgent do you feel it is to get started?
•How do you feel about those numbers?
•How would you describe the effect if we could do that over a period of years?
•It might mean an initial investment of $3,500 in some planning. How do you feel about that?
•How urgent do you feel it is to get started?
Larry N. Harrison:
Larry N. Harrison:
The 4 ways to grow your businessThe 4 ways to grow your business
We do it by
helping you…
We do it by
helping you…
•Increase the number of customers of the type you want.
•Increase the transaction frequency.
•Increase the average sale.
•Increase the effectiveness of each process in your business.
•Increase the number of customers of the type you want.
•Increase the transaction frequency.
•Increase the average sale.
•Increase the effectiveness of each process in your business.
Growing your businessGrowing your business
But...But...
•To achieve that type of effect, we may well need to modify the type of work we (and you) do.
•It’s best explained by watching that special video I mentioned.
•To achieve that type of effect, we may well need to modify the type of work we (and you) do.
•It’s best explained by watching that special video I mentioned.
Let’s take a look at the video now.
Let’s take a look at the video now.
Growing your businessGrowing your business
SummarySummary
•The purpose of creating a business is to sell it.
•Working ON the business rather than IN it is the key.
•We need to set a “destination.”
•We need to work together in a different way.
•We need to review your video questionnaire.
•The purpose of creating a business is to sell it.
•Working ON the business rather than IN it is the key.
•We need to set a “destination.”
•We need to work together in a different way.
•We need to review your video questionnaire.
ThestepsThe
steps
•You make an initial investment of $3,500 for a special Planning Session process.
•As the first step in that process, we ask you to complete this Business Development Questionnaire (BDQ).
•We’ll review that BDQ as the first action of the Planning Session.
•You make an initial investment of $3,500 for a special Planning Session process.
•As the first step in that process, we ask you to complete this Business Development Questionnaire (BDQ).
•We’ll review that BDQ as the first action of the Planning Session.
The planning phase of the processThe planning phase of the process
The
steps (continued)
The
steps (continued)
•We’ll identify your core business strengths and weaknesses.
•We’ll look at precisely what the business can achieve and how to get there.
•We’ll work on a mission statement for the business.
•We’ll identify your core business strengths and weaknesses.
•We’ll look at precisely what the business can achieve and how to get there.
•We’ll work on a mission statement for the business.
The planning processThe planning process
TheresultThe
result
•We’ll develop a business development Action Plan (what to do, who should do it, by when).
•One result—you’ll work ON your business not IN it, building it in a controlled and positive way.
•As importantly we’ll be working with you to help you absolutely maximize the potential of your business.
•We’ll develop a business development Action Plan (what to do, who should do it, by when).
•One result—you’ll work ON your business not IN it, building it in a controlled and positive way.
•As importantly we’ll be working with you to help you absolutely maximize the potential of your business.
The resultThe result
The business
development process
explained.
The business
development process
explained.
How we help you improve the profitability of your business
How we help you improve the profitability of your business• We start with a full-day Planning
Session.• We work with your customers to
identify their key frustrations.• We help you and your team develop
a customer service strategy.• We help you review and redesign, if
necessary, your operating procedures.
• We start with a full-day Planning Session.
• We work with your customers to identify their key frustrations.
• We help you and your team develop a customer service strategy.
• We help you review and redesign, if necessary, your operating procedures.
How we help you improve the profitability of your business
How we help you improve the profitability of your business• We help you redesign your
organizational structure so that it fits in with your new strategy.
• We work with you to define Key Performance Indicators.
• We work with you to develop a Marketing Plan.
• We help you pull it all together in a Management Control Plan.
• We help you redesign your organizational structure so that it fits in with your new strategy.
• We work with you to define Key Performance Indicators.
• We work with you to develop a Marketing Plan.
• We help you pull it all together in a Management Control Plan.
Your overall investmentYour overall investment
• You’ll typically invest between $15,000 and $50,000 over an 18- to 24-month period.
• You’ll make a monthly investment to fit in with cash flow issues.
• You can stop in any month if you’re not delighted with what we’re doing together.
• You’ll typically invest between $15,000 and $50,000 over an 18- to 24-month period.
• You’ll make a monthly investment to fit in with cash flow issues.
• You can stop in any month if you’re not delighted with what we’re doing together.
• Your initial investment is $3,500 for a Planning Session.
• If you don’t like what we do there, your investment is instantly returned.
• At the Planning Session, we’ll draw up an agenda for action to evaluate the extent of your involvement in the process.
• Your initial investment is $3,500 for a Planning Session.
• If you don’t like what we do there, your investment is instantly returned.
• At the Planning Session, we’ll draw up an agenda for action to evaluate the extent of your involvement in the process.
Your overall investmentYour overall investment
Ongoing monitoring
, fine-tuning
Ongoing monitoring
, fine-tuning
Initial exploration
Initial exploration
Planning SessionPlanning Session
Involve customer
s
Involve customer
s
Develop the
strategy
Develop the
strategy
Develop Team
standards
Develop Team
standards
Develop the
systems
Develop the
systems
Develop Financial
Plan
Develop Financial
Plan
Involve the Team
Involve the Team
Early yardage
marketing
Early yardage
marketing
Management Control
Plan
Management Control
Plan
Special additionsSpecial
additions
??Given that it all seems fine
to you at this point and
given what you mentioned
about urgency before, what
date should we schedule for
our Planning Session?
Given that it all seems fine
to you at this point and
given what you mentioned
about urgency before, what
date should we schedule for
our Planning Session?
Ongoing monitoring
, fine-tuning
Ongoing monitoring
, fine-tuning
Initial exploration
Initial exploration
Planning SessionPlanning Session
Involve customer
s
Involve customer
s
Develop the
strategy
Develop the
strategy
Develop team
standards
Develop team
standards
Develop the
systems
Develop the
systems
Develop Financial
Plan
Develop Financial
Plan
Involve the team
Involve the team
Early yardage
marketing
Early yardage
marketing
Management Control
Plan
Management Control
Plan
Special additionsSpecial
additions
Stage 1—The Planning SessionStage 1—The Planning Session
• Business Development Questionnaire
• One-day strategic meeting>Customer-related issues>Team-related issues>Operational and financial issues>Marketing issues
• Agenda for action
• Business Development Questionnaire
• One-day strategic meeting>Customer-related issues>Team-related issues>Operational and financial issues>Marketing issues
• Agenda for action
Stage 2—Your customer service strategy Stage 2—Your customer service strategy
• Obtain buy-in from all owners and team members.
• Assess current service levels.
• Run a Customer Advisory Board.
• Obtain buy-in from all owners and team members.
• Assess current service levels.
• Run a Customer Advisory Board.
Stage 3—Develop a core strategic focusStage 3—Develop a core strategic focus
• Start with your vision.• Review competitors and industry.• Formalize a competitive strategy
for the business.• Draw up a business model based
on the strategy.• Identify critical success factors.
• Start with your vision.• Review competitors and industry.• Formalize a competitive strategy
for the business.• Draw up a business model based
on the strategy.• Identify critical success factors.
Stage 4—Identify team needs and frustrationsStage 4—Identify team needs and frustrations
• Run a Team Advisory Board.• Advise management about key
issues arising from the Team Advisory Board.
• Identify critical business processes.
• Obtain team member feedback on ways to improve processes.
• Run a Team Advisory Board.• Advise management about key
issues arising from the Team Advisory Board.
• Identify critical business processes.
• Obtain team member feedback on ways to improve processes.
Stage 5—Develop customer/team centered performance standards
Stage 5—Develop customer/team centered performance standards
• Develop performance standards.
• Identify moments of truth for the business.
• Develop customer-focused management.
• Empower team members in a structured way.
• Develop performance standards.
• Identify moments of truth for the business.
• Develop customer-focused management.
• Empower team members in a structured way.
Stage 6—Systematize key processes and develop an Operating Plan
Stage 6—Systematize key processes and develop an Operating Plan
• Identify key functions, activities, and operating departments.
• Classify all processes in the business.
• Document processes and identify process constraints.
• Compile an operations manual.
• Identify key functions, activities, and operating departments.
• Classify all processes in the business.
• Document processes and identify process constraints.
• Compile an operations manual.
Stage 7—Develop a Financial PlanStage 7—Develop a Financial Plan
• Perform what-if analysis and identify preferred scenario.
• Prepare annual profit and cash plan on a monthly basis.
• Identify financial Key Performance Indicators.
• Set up monthly reporting systems.• Hold monthly board meetings.
• Perform what-if analysis and identify preferred scenario.
• Prepare annual profit and cash plan on a monthly basis.
• Identify financial Key Performance Indicators.
• Set up monthly reporting systems.• Hold monthly board meetings.
Stage 8—Do a market needs analysis and develop a Marketing Plan
Stage 8—Do a market needs analysis and develop a Marketing Plan
• Identify all product/service lines.• Do a market needs analysis for each
line.• Prepare a role profile of the ideal
customer.• Identify why customers buy.• Develop a Unique Core Differentiator.• Consider the use of guarantees.
• Identify all product/service lines.• Do a market needs analysis for each
line.• Prepare a role profile of the ideal
customer.• Identify why customers buy.• Develop a Unique Core Differentiator.• Consider the use of guarantees.
Stage 9—Implement a Management Control Plan based on specific Key Performance Indicators
Stage 9—Implement a Management Control Plan based on specific Key Performance Indicators • Establish the Management Control Plan.
• Identify all critical success factors (CSFs).
• Identify all Key Performance Indicators for measuring CSFs.
• Set up a measurement system.
• Attend Advanced Financial Management Training System course.
• Establish the Management Control Plan.
• Identify all critical success factors (CSFs).
• Identify all Key Performance Indicators for measuring CSFs.
• Set up a measurement system.
• Attend Advanced Financial Management Training System course.
When you invest in our Business Development Program, you also receive...
When you invest in our Business Development Program, you also receive...
• Monthly management reports
• Monthly Business Performance Review and analysis
• Our instructional booklet How to Improve the Profitability of Your Business
• A pre-year-end tax planning meeting
• Monthly management reports
• Monthly Business Performance Review and analysis
• Our instructional booklet How to Improve the Profitability of Your Business
• A pre-year-end tax planning meeting
When you invest in our Business Development Program, you also receive...
When you invest in our Business Development Program, you also receive...
• Access to the Results Accountants Network via our membership to the network
• Membership to our Businesses Getting Results breakfast meeting group for progressive local businesses
• Unlimited phone access during your business development engagement
• Access to the Results Accountants Network via our membership to the network
• Membership to our Businesses Getting Results breakfast meeting group for progressive local businesses
• Unlimited phone access during your business development engagement
When you invest in our Business Development Program, you also receive...
When you invest in our Business Development Program, you also receive...
• Attendance at your monthly board meetings
• Up to three free places at our next Making Your Business Really Fly program, and...
• Your absolutely no-risk guarantee
• Attendance at your monthly board meetings
• Up to three free places at our next Making Your Business Really Fly program, and...
• Your absolutely no-risk guarantee
What’s my overall investment?What’s my overall investment?
• You’ll typically invest between $15,000 and $50,000 over an 18- to 24-month period.
• You’ll make a monthly investment to fit in with cash flow issues.
• You can stop in any month if you’re not delighted with what we’re doing together.
• You’ll typically invest between $15,000 and $50,000 over an 18- to 24-month period.
• You’ll make a monthly investment to fit in with cash flow issues.
• You can stop in any month if you’re not delighted with what we’re doing together.
What’s my overall investment?What’s my overall investment?
• Your initial investment is $3,500 for a Planning Session.
• If you don’t like what we do there, your investment is instantly returned.
• At the Planning Session, we’ll draw up an agenda for action to evaluate the extent of your involvement in the process.
• Your initial investment is $3,500 for a Planning Session.
• If you don’t like what we do there, your investment is instantly returned.
• At the Planning Session, we’ll draw up an agenda for action to evaluate the extent of your involvement in the process.
LNH & Co.
Working to create and maintain wealth
for our selected
clients
LNH & Co.
Working to create and maintain wealth
for our selected
clients