We recently assisted a start-up business with the development of their Business Plan and it got us thinking about the importance of business fundamentals.
More often that not we work with established businesses who want to focus on growth or improving productivity.
With the start-up business, the focus initially was on clearly articulating their strategic direction (important for everyone), but then quickly became a task of identifying the key fundamental business activities that were needed to underpin their success.
For this business that included developing an accurate cashflow budget, a focused and targeted business development process and a process for systematically assessing business opportunities.
Their action plan is initially focused on getting these fundamentals in place and working well. Their Strategy Map then shows how they can build on these to work towards achieving their goals. The reminder in our minds is that all businesses need to make sure they have the core activities of their business operating efficiently and effectively.
If this is achieved, it is much easier to focus more efforts on the hard task of growing the business as you know you will be able to manage the growth internally.
Our Outsourced CFO™ service is here to help your business. To discuss your specific needs please contact David Young firstname.lastname@example.org or John de Blonk Smith email@example.com or call us on 07 3221 4465.
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