Email: bernardgoodchild@timetalk.co.uk

Call: 01295 279227 or 07775 618 403

Management Support for S.M.E.'s

ADVICE IN ALL AREAS OF BUSINESS

Bernard Goodchild

Bernard Goodchild

Management Support for S.M.E.'s

Email: bernardgoodchild@timetalk.co.uk

ADVICE IN ALL AREAS OF BUSINESS

Call: 01295 279227 or 07775 618 403

CASE STUDIES

Case Study 1

Oxfordshire based company, principally importing overseas manufactured products. High Growth turnover rising to circa £6m and sound profits. Growth creating cash flow, staff and organisational pressures across company. Directors working long hours and struggling to cope with responsibilities in managing a high Growth business.

 

Solutions

  • Developing a clear business strategy and a set of specific strategic goals
  • Identifying with appropriate sources of finance to support cash flow needs
  • Analysing product and price offer
  • Developing a second tier management team to manage smaller teams – admin, sales, dispatch, finance and technology
  • Obtaining grant supported formal management training programme
  • Regular review of marketing activities and techniques
  • Developing ongoing time related Action Plans

 

Process

  • Regular monthly meetings with directors to review performance and action plans to take appropriate
    action to stay on track with Business Plan and long term goals where necessary
  • Reviewing funding providers and services offered
  • Debating equity purchase offers from other businesses operating in same sector
  • Reviewing the effectiveness of training programmes.
  • Identifying changes in market place.
  • Initial two year and subsequent,  regular involvement supporting directors with managing the
    company activities

 

Outcomes

 

  • Refined product list and clearer view of margins
  • Planned growth of turnover and profitability
  • Practical, formal,  confirmed cash flow support
  • Improved, larger and wider skilled management structure with reduced individual time pressures on staff members
  • Closer consideration of market changes and impact on business
  • Regular and up to date review of company’s trading performance

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Case Study 2

Abingdon based, highly technological services company with an international reputation, undertaking projects cross the world. Highly qualified staff team, growing turnover and very stable financial base. Requiring additional cash flow support to assist in covering peaks in expenditure at specific times during major projects. Initial Bank response unacceptable in requiring directors personal guarantees and mortgages over their domestic properties as security

 

Solutions

  • Clear identification of business financial needs
  • Appropriate Business Plan to attract funders
  • Identification of funders attracted to type of borrowing required
  • Improved financial forecasting and monitoring internally

 

Process

  • Initial exploratory discussions to clearly identify with actual financial support required.
  • Introduction of directors to grant supported workshop and events to improve their understanding of the requirements of funders.
  • Review of Business Plan
  • Introduction to various lenders and negotiation meeting support.
  • Introduction and recruitment of a qualified and experienced part time financial director to assist the team of directors

 

Outcomes

 

  • Agreement reached with a Clearing Bank to provide a very substantial, peak, cash flow support facility to entirely match the company’s needs and allow it to take on additional multi million profitable contracts

Case Study 3

Successful Warwickshire based Company with wide range of National household names as clients, using their services, growing turnover and profitability but stretched resources. Business owner uncertain regarding the way forward.

 

Solutions

  • Establishment of a small Leadership & Management Team with delegated responsibility for– I/T, Quality, marketing and staff relations.
  • Development of a formal written Marketing Plan
  • Introduction of a Training and Development Plan for all staff members with clearly established career paths
  • Use of an improved time recording plan for all staff members
  • Improved monthly accounting processes
  • Introduction of a formal project review process for each assignment to include all activity undertaken for each client and the net financial return compared to the original estimate given for work undertaken.

 

Process

  • Regular monthly meetings with directors to review performance and action plans to take appropriate action to stay on track with Business Plan and long term goals where necessary
  • Debating turnout from marketing activities and successes to confirm activities.
  • Reviewing the effectiveness of training and development /appraisal programmes.
  • Initial two year and now regular involvement supporting directors with managing the company.

 

Outcomes

 

  • Regular management performance meetings with senior management team
  • All staff have the benefit of regular, formal, review meetings relating to their performance, progress and training needs.
  • Clear marketing targeting with identified potential client list
  • Improved internal processes relating to team time management and pricing of projects undertaken
  • Regular discussion of financial progress

Case Study 4

Oxfordshire based Marketing Agency with several public service marketing contracts. Outsourced team of self-employed staff used to assist in managing time and varying volumes of work flow. Excellent reputation and brand but financial returns relatively poor and not meeting sleeping shareholders expectations creating a rift in ownership.

 

Solutions

  • Development of a formal written and precise marketing plan to replace rather ad hoc activities when time permitted
  • Identification of a staff time recording programme for all team members and review against the estimated cost of the work at the outset to ensure accuracy of pricing
  • Formal review of each self-employed team member and introduction of discussion and time targeting for each project undertaken
  • Formal financial, monthly forecasts provided with a regular comparison against actual figures.

 

Process

  • Regular monthly meetings with directors to review performance and action plans to take appropriate action to stay on track with Business Plan and long term goals where necessary
  • Debating turnout from marketing activities and successes to confirm activities.
  • Reviewing the effectiveness of training and development /appraisal programmes.
  • Regular meetings with directors and staff until changes outlined embedded and performance in line with objectives.

 

Outcomes

 

  • Clear and regular marketing activities linked to work flow experience to ensure regular recruitment of client projects throughout the financial year.
  • Accurate recording of all work undertaken then reviewed against original pricing to ensure more accurate pricing policy put in place.
  • Regular work reviews with individuals within the team to ensure a closer working relationship, improved knowledge of the company’s working practices and values. Improved efficiency of working.
  • Much improved financial performance and better relationship with shareholders.
  • Considerable additional value within the company and its staff for eventual exit and sale

Case Study 5

Single director services company with the individual working extremely hard, long hours and not sufficiently profitable to match domestic needs. Well qualified, good local reputation and large client base.

 

Solutions

  • Development of a clear Business Plan and objectives
  • Review of many services offered and identification of those that are most profitable and easiest to organise complete.
  • Focus on these and establish/calculate a target figure required to create a sufficiently high profit to meet personal needs. Then take forward regular activities to ensure that the targeted number are achieved and monitored monthly
  • Create business forecasts and review them monthly to ensure that all income and expenditure is on target. Review all business costs for cheaper or more efficient services
  • Increase social media activity to extend brand name in local area
  • Improve website and marketing material. Establish effective marketing activities

 

Process

  • Using format template provided write a detailed Business Plan with clear objectives
  • Develop and continually update a schedule of all costs relating to various services undertaken, review costs quarterly and create a clear knowledge of what services are profitable
  • Create financial projections for a twelve monthly period and monitor performance by calculating actual figures for comparative purposes to identify with any slippage
  • Use social media actively.
  • Develop attractive marketing material

 

Outcomes

 

  • Continually monitoring  performance to establish any change of activities required to bring profits up to projections.
  • Improved costs
  • Projections always available for monitoring purposes
  • Social media actively
  • Attractive marketing material aiding recruitment of new clients.

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