What is a Business Review?

 

Avid Partners  business review service has successfully supported business owners and managers in several different sectors in returning their business to increased sales, profitability and improved personal wealth. The objective is to use some structured time away from the flow of business activity to assess how the business should move forward. The process is designed to enable a clear consensus on what needs to be done, based on a thorough analysis of the current position and available options for developing the business. Clients normally request Avid Partners  assist them in carrying out such a review because it’s hard to do it by yourself. Bringing in an experienced outsider can challenge you to think deeply about each stage of this process and come up with much more valid conclusions.

 

In depth analysis of the business will look at the following areas relating to the business:

  • Industry, market sector, trends and key success factors
  • Competitor performance, advantages and differentiators
  • Company products, services, distribution and structure
  • Sales results, market share and client profitability
  • Marketing strategy performance, mix and budget
  • Organisational resources and competences
  • People, training and investment
  • Market research

 

What are the Key Benefits?

  • An independent assessment by an expert
  • Increasing the sales performance of the business
  • Increasing the bottom line performance
  • Improving cash flow and the management of working capital
  • Written roadmap and strategic plan for the business, supported by a strategic review
  • Increased cost efficiencies through a finance review
  • Learn how to “Make more money”

 

What is involved in a Business Review?

 

1. Where Are We Now?

This stage involves analysing the company’s strengths and weaknesses, how well it addresses the needs of buyers and markets, and how it compares with its competitors. An assessment of operational effectiveness will be done, that looks at people, processes, and organisational responsibilities. The purpose is to establish a solid and agreed start point for the remainder of the project. This stage often highlights differences of opinion between people within the company, and builds consensus about what needs to be done, and why.

 

2. Where Could We Get To?

In the second stage, the strategic review options are identified. Research and analysis includes the sizing, profiling and segmentation of markets, and considering the options available for development of products and services through options such as organic growth and strategic partnerships.

 

3. Where Should We Get To?

Based on the analysis in the first two stages, a selection of the appropriate objectives can be made from the strategic review options that are available. This includes the selection and prioritisation of the initiatives that will be required. Deeper research into the chosen market opportunities is often required in order to complete this stage effectively.

 

4. How Do We Get There?

In the final stage, an operational plan is developed, based on the differentiated value proposition that has been developed during the first three stages. The offering to each market or market segment is defined. The requirements for the development of the company’s people, processes and organisation are defined. Targets are established in this stage, along with the definition of the metrics that will be used to evaluate success.

 

What Do You Need to Do?

 

Our Business Review can help increase your sales, improve cash flow, generate cost efficiencies and provide you with a written roadmap and strategic plan tailored to your business, thereby helping you make more money. A Business Review, Strategic Review and Finance Review are all incorporated in the process. If you think your business could benefit from a Business Review by Avid Partners Accountants and Business Advisers contact us today.  Our review is normally carried out at your business premises and can be completed in as little as one day with minimum disruption and cost to your business while generating both short and long term benefits.

 

So are you willing to spend some time working with us to improve your business? If so contact Avid Partners today to see how we can assist your business through our Business Review Services. Arrange a free consultation with us to talk through the specific aspects of your business and we will tailor a package to match your needs.  You can phone us on 01 4286900, email us at advice@avidpartners.ie  or alternatively you can fill out the form below.

 

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Scenarios:

Yes Avid Partners have two divisions of the company. We have an accountancy division that handles your day to day financial necessities and we also have an advisory division to assist companies develop their businesses. This can include consultancy, marketing and guidance when required. We can act as a Chairperson for your organisation if required and can also take away some of the day to day pressures that can restrict growth and slow development. Avid Partners can help with both of the critical aspects of a company, keeping costs down as much as possible and growing revenues exponentially. Technology companies need patience in developing their visions and an involved day to day partner is the best way of keeping a good business balance.
It is a common problem for companies who are in a situation where their business is growing in real terms (users, visitors) but sales is not matching the other growth metrics as traditionally sales lags behind growth (Twitter, Linked In, etc). So what do you do? Every business needs access to finance to pay operating costs which gives the company time to develop future revenue streams. Thankfully the situation is getting better with many tech friendly finance options coming on stream such as micro financing, crowd funding and government agencies are also starting to show support interests.
Every company starts out small with very limited resources at the beginning of the project. The key is to make the most from the resources you have and to seek out alliances, support systems and working partners. Start ups face many challenges including access to capital, regulatory requirements, economies of scale. We can help you develop your concept and will assist in every way possible from accountancy and day to day support to advisory services and raising finance. We can assist in a number of ways and have a portfolio of growing small companies that we help on an on-going basis.
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