Do you have a budget, plan and strategy? Does your corporate culture and philosophy reach every employee and every segment of your business?
Always remember – your business is likely your largest asset and deserves to be managed as such. As you embrace the New Year, ask and answer the following:
1. Am I clear about the value drivers – i.e, the competitive advantages – of my business are?
2. What are the factors that increases the value of my business?
3. How do investors, bankers, and potential buyers look at my business to determine financial health, valuations and risk?
4. Is the technology used in my businesses up-to-date? Is my business using best practices and management applications that can increase demand for my company’s products or services?
5. Are there customary and systematic functions in my business that could be a candidate for outsourcing? How would cost and labor savings be re-allocated?
6. Is my 2015 company budget supported by rational assumptions that flow through the financial statements? Does the budget plan include a balance sheet and statement of cash flows? Does the company “follow the cash”, i.e., do we carefully plan for cash outlays in new ventures, internal projects and R&D?
7. Can I defend my budget and financial plan in front of bankers, investors and my employees?
8. Does every employee in my business know how his or her work contributes to the success of the company business model and 2015 goals? What can I do to make sure that every employee is engaged in the business model and current goals?
9. If my company is behind or ahead of the 2015 projections, will I be able to understand why there is a deviation, and address the cause of the deviation?
10. Are there inherent risks in my 2015 plan, my business, or my industry? How will my company mitigate those risks?
11. Have I ever looked at profitability as it relates to business functions, customers, and channels in order to discern which functions, customers and channels are most (and least) profitable?
12. What is my company’s exit strategy?
Your local B2B CFO® partners stand ready to help you answer these questions and fully optimize your businesses this year. Our ultimate goal is to work with business owners to execute and deliver your plan. The start of the New Year is the perfect time to be strategic about New Beginnings.
Please give us a call today for a free Discovery Analysis™ if you are interested in maximizing the value of your business.