Business Development

"UNLESS A COMPANY IS PROGRESSING THE WHOLE TIME … IT IS, IN FACT, MOVING BACKWARDS" Sir John Harvey Jones - former chairman of ICI and Troubleshooter

The reason why many businesses do not become more profitable (and more valuable) is that the owners are slow to react to - and implement - change. This failure is not due to lack of conviction or hard work but largely to the fact that most owners work IN their business, and not ON their business.

As a result, the business starts to consume their life, and they lose sight of not just why they went into business in the first place, but also where they are going. Owners are usually acutely aware of the shortcomings in their own business, however, because they are "DOING IT, DOING IT, DOING IT", they don't have the time, or the energy, to put things right.

In order to improve profitability, a business must grow. There are in fact just four ways to grow a business:

1. Increase the number of customers of the type you want to have.
2. Increase the average value of each sale.
3. Increase the number of times the customer comes back.
4. Increase the efficiency of each process in the business.

Many owners equate growth with turnover, however, simply chasing turnover can lead to a variety of problems, and indeed, over-trading is the principle cause of business failure. Growth must be planned, managed and controlled.

At Haleys we can assist you grow your business in a structured manner and show you how to:

• Increase your bottom line profitability
• Increase the capital value; and
• Run your business in a more enjoyable and fulfilling way

This last point is crucial. The personal wealth, prosperity and happiness of business owners are rarely achieved without appreciative customers and a highly motivated and dedicated team.

Haleys work is based around a business development program that is tailored to the needs of a particular business.

The early part of the Business Development program is devoted to planning sessions. After conducting a thorough fact finding mission, we invite the owners to come away from the office for the day to talk about their business.

Fundamental issues will be discussed including:

• What sets the business apart from its competitors?
• What are the owners ambitions for the business?
• What do the owners want out of the business in terms of remuneration, return on their investment and their time commitment?
• What are the key frustrations running the business?
• How strong is the team?
• What dependence is there upon suppliers?
• Financial and trading history

The culmination of the planning day is to draw up a prioritized Action Plan and agreement on the scope
of the business development program to be undertaken.

For more information please contact tim.haley@haleys.info