Business ConsultingAre your competitors discussing your company in their board room? Are they up nights wondering how you're out-performing them? If not, they should be, and we can help.
Business Consulting is a necessary part of our service offering to our clients. What set us apart from our competitors is our basic business consulting services are free when you purchase our bookkeeping, marketing, and training services are given verbally. While our advance business consulting service is more in-depth and provided in written format so it’s a stand alone or can be a la carte. Two primary courses of action we take in our business consulting are the audit & assessments, advisory and strategic planning.
Audits & Assessments
A company is only as good as its products/services, the operations system by which they are delivered, the personnel that operates those systems, and the proper balance of cash reserves, sales, cost-of-goods sold, work-cycle methods and technology.
We provide highly experienced expertise in a balanced, non-biased report with recommendations [based on solid feasibility studies and project management judgment], to your senior management and/or team leader. The Assessment & Audit identifies potential disasters before they occur, and also reveals efficiency options to cut costs and/or increase revenue.
Company Assessment: A focus on your company’s ratio of sales, inventory, cash flow, cash reserves, and cost of goods sold, products/services.
Operations Assessment: A focus on short-term and long-term operations efficiency: systems and job functionality. A review of your company’s personnel, methods, work-cycle systems, and technology, which is achieved through:
Observing the existing procedures and systems using a bottom-up approach
Analyzing existing procedures, methods and systems to evaluate their effectiveness
Analyzing material and information flows
Identifying non-value-added tasks to be eliminated
Developing new tasks, methods and procedures as applicable
Identifying areas to improve efficiency
Eliminating of redundancies, outdated or under-productive technology
Researching and developing automated solutions as applicable
Designing and presenting a strategic and tactical road map to the project team/ senior management
Consultation of implementation of changes in accordance with the strategic/ tactical road map
Simply put, strategic planning determines where an organization is going over the next year or more and how it’s going to get there. Typically, the process is organization-wide or focused on a major function such as a division, department or other major function.
In any contest, there are winners and losers. Whether it’s sports or war, the winners usually have a plan of what they want to achieve, and how to achieve it. In business, this is referred to as the Strategic Plan, which we provide at three critical stages.
- Strategic Analysis: We begin by conducting a review of your organizations’ external environment, and the internal capabilities that it has developed, and/or can reasonably hope to develop or acquire. This may include political, social, economic and technical environments, both in and outside the organization. Business pipeline experts then carefully consider various driving forces in the environment relating to products/services, sales, advertising, marketing, competition, and demographics, as well as various strengths, weaknesses, opportunities, and threats (SWOT) regarding the organization.
- Strategic Direction: Planners carefully come to conclusions about what the organization must do as a result of the major issues and opportunities facing the organization. These conclusions include overall accomplishments (strategic goals) the organization should achieve and the methods (or strategies) to achieve the accomplishments. Specific Goals are defined to be specific, measurable, realistic, timely, and extending the capabilities of those working to achieve the goals and the incentive rewards for achieving said Goals for those working to achieve the goals.
During the strategic planning process planners identify or update the strategic “philosophy”. This includes identifying or updating the organization’s mission, vision and/or values statements.
Mission statements are descriptions of the purpose of the organization; they can be brief or quite comprehensive and include a specific purpose statement. The vision and value statements may be stand-alone, or a part of the overall Mission Statement; which is usually included in the organization’s initial company registration.
Vision statements are usually a compelling description of how the organization will or should operate at some point in the future, and of how customers or clients are benefiting from the organization’s products and services.
Values statements list the overall priorities in how the organization will operate; sometimes based on certain moral values.
- Action Planning: Action planning is carefully laying out how the strategic goals will be accomplished: the tactical plan. We shall include specific objectives, or specific results, with each strategic goal. To reach each strategic goal we shall provide a set of objectives along the way — in that sense, an objective is still a goal, but on a smaller scale.
Tactics will be outlined reach each objective. Therefore, our strategy will involve implementing a set of tactics along the way — in that sense, a tactic is still a strategy, but on a smaller scale. With each objective we shall specify responsibilities and time lines; or who needs to do what and by when. It shall also include methods to monitor and evaluate the plan, which includes knowing how the organization will know who has done what and by when. An operational plan or management plan (“annual plan) will include the strategic goals, strategies, objectives, responsibilities, and timelines that should be done in the coming year; these can also be created based on major functions, divisions, or departments, called work plans. Budgets shall be included in the strategic and annual plan, and with work plans. Budgets will specify the money needed for the resources that are necessary to implement the annual plan.