| Free Report |
| What successful owners of
growth businesses do that you don't! |
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| Darren pushed getting the best out
of my team through introducing weekly meetings that were
structured short and to the point. Team members became
more aware of their accountabilities which have produced
better results week to week. He also introduced key performance
indicators linked to their accountabilities. Darren has
had significant input in recruitment and management. |
| - Craig Roylance, Managing Director, Linc Building Solutions Pty Ltd" |
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| Newsletter |
| Words of Influence |
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| Case Studies |
| Increased profitability |
| The Problem
The owners of a manufacturing, wholesale & retail business were experiencing a lack of growth in sales and profitability.
Price increases had not been passed on for over ten years and the business did not have a structured marketing system in place. Their product range did not include any products that carried the business brand name which left them exposed to a new competitor entering the industry.
The Solution
Price increases were put through on all product lines.
Product costings and prices are now reviewed annually.
A structured marketing system was implemented including
email, direct mail, sponsorship and new distribution
channels. A new house brand range of products was cost
effectively sourced and imported as finished goods from
China.
The Result
Sales and margins immediately increased resulting in a 26% increase
in profit on prior year. Profit margins on the imported
house brand products were also superior to the majority
of their locally manufactured product lines. The importing
of finished goods increased manufacturing capacity and
reduced factory labour requirements |
| Team accountability & performance |
| The Problem
The owner of a building hire company was frustrated by an over-reliance on him and a lack of accountability across his management team. Team members did not have defined accountabilities and these were not linked specifically to their daily tasks and performance appraisal.
The Solution
Key accountabilities for each team member were determined.
The owner met with each team member to outline his expectations
and their accountabilities. Structured weekly, monthly,
quarterly and annual team meetings were implemented
to set and review accountabilities and outcomes. Each
team member's performance appraisal is now linked to
meeting their key accountabilities. Specific team members
are also periodically mentored by me.
The Result
The owner has successfully shifted a number of key accountabilities from himself to the team. He is able to leverage results through his regular weekly one-on-one sessions and team meetings. Team members are clear on their priorities and own their accountabilities and understand their performance appraisal will be assessed on these criteria. As a result, the owner now has significant additional time to focus on strategy and growing the business. |
| Increasing the value of the business |
The Problem
The owner desperately wanted to fast track business growth to maximise short term profits and increase the value of the business in preparation for a proposed future sale. He felt overwhelmed by the challenge of how to successfully achieve this.
The Solution
An analysis of sales, margin and major cost structures was conducted. Budgets were prepared across the business. Management information systems were put in place to measure business performance. A costing, sales and proposal system was developed and implemented. The sales team were given key targets and accountabilities. Operational Managers were made responsible for managing direct costs. The owner meets briefly with each team member weekly and monthly to drive accountability.
The Result
The business has turned around from losses to sustainable ongoing profitability. Team members understand their areas of accountability. The owner is now enjoying wealth creation through the increased profits while the continued implementation and monitoring of the growth plan is increasing the future sale value of the business. |
| The power of data |
| The Problem
A building hire company didn't have any management information
systems in place. There was a distinct lack of data
available to manage the business. The MD didn't know
his gross profit margin, monthly profit, direct costs
and operating profit or have any budgets or key performance
indicators in place.
The Solution
I introduced a system of key performance indicators, monthly management accounts, budgets, weekly sales reporting and activity-based data.
The Result
The MD now receives weekly and monthly management information.
Sales data and activity-based data are tabled at weekly
management meetings. If the management data in the first
week or two of the month shows up issues, the MD gets
the team in immediately to focus on fixing these issues
early while there's still time to influence the month's
outcome. The MD's ability to lead and manage the business
has been improved dramatically through having timely meaningful
data on which to base management decisions. |
| Sale of Business |
| The Problem
The owner of a safety helmet manufacturing business was unsure how to approach selling the business.
The Solution
I conducted a comprehensive review of the owner's personal
and business affairs. I introduced a Tax Lawyer who
reviewed the owner's asset protection, estate planning,
risks and tax implications upon sale with significant
changes implemented. We then worked on preparing the
business for sale through detailed financial analysis
and the introduction of systems and processes. A business
valuation expert was engaged to independently value
the business. Confidentiality Agreements and Information
Memorandums were prepared. Two potential buyers were
approached.
The Result
The owner's personal and business assets have been restructured
pre-sale with significant tax savings and reduced risks.
The structure and terms of sale have been considered
in light of tax effectiveness. The business has been
successfully prepared for sale. We are currently in
the process of negotiating with two qualified buyers
and have optimised the sale value of the business to
maximise wealth for the owner upon sale. |
Now that you have a better idea about Who We Work With, How We Work, Our Services and Case Studies, next go to the About Us page to learn a little more about Darren Bourke of Business Influence. |
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