GROW your business
Planned business growth can be obtained in a variety of ways including:
- The addition of a new product
- Merger or acquisition
- Expansion of your business location or the addition of a new location
- Adding a new sales channel
It is planned business growth because there was an actual decision made to grow and an action taken. Even with planned business growth, it is vital that businesses make sure that the current business can handle the expected growth from a resource as well as cash flow standpoint.
In addition to planned growth, there is unplanned business growth that can occur in a business where the business is not able to fund or sustain the growth and can actually end up causing them to fail or have to declare bankruptcy.
- Taking on a large order where your current cash flow can not fund materials to manufacture product or packaging.
- Taking on a project where you need to hire increased staff to get the project, but the business can not sustain the added headcount after the project is completed.
To quote David Packard of Hewlett Packard "More companies die of indigestion than starvation."
When growing your business, these are some key points to keep in mind to help you grow without it affecting your business adversely:
- Expenses are often paid out before the revenues are collected
- You have more control of your account payable then you do accounts receivable
- Suppliers are quick to shut you off if you don’t pay
- Customers are always looking to delay payments
At Rudy Fischer, CPA, CMA, we offer financial business consulting and coaching to help you grow your business at the right pace for your current business so it does not affect your business and are able to sustain the growth long term.
Strategy and Planning
We provide the following services under strategy and planning for businesses who are are wanting to grow. Our goal is to help you grow at the right pace for your cash flow as well as your resources.
- Feasibility Study: A study which will help determine whether your expansion plans or new product ideas have the potential for providing you with increased profitability in your business before you invest both your time and money.
- Business / Strategic Plan: A plan that updates and re validates your business strategy and adjusts/modifies all areas of the business for helping to gain increased financing or investment in the business.
- Business Case: A plan to help in the creation or the development of the justification of adding products, capacity or additional assets.
- Financial Model Development: The development of a mathematics based financial model of your business that allows the owner/operator determine possible outcomes.
running your business
It is important when you growing a business to make sure that your business continues to run efficiently and profitably. We provide the following business consulting and coaching engagements to help you while you grow your business.
- Chart of Accounts Modifications: Make modifications in your accounting system to accommodate new lines of business, additional locations, markets, or any changes that are required for where you are now in your business.
- Budgeting and Forecasting: Development of forward looking plans based on realistic goals and objectives.
- Cash Flow Management: intense planning your cash flow requirements based on your sales, collection cycle, purchase, payment cycle, and capital needs.
- Product and Service Costing: Determining the potential demand on your short and long term fixed, step, and variable costs to be considered for healthy growth, costing, and pricing.
- Pricing and Packaging: Determining the pricing and packaging for your products and services based on growth expectations to ensure the current business can sustain growth funding required.
- Business Restructuring: An engagement to help you structure your business so that it is more attractive for financing or investment.
measurement and performance of your business
As you begin to grow your business it is crucial to measure and keep on top of how your business is doing. We offer the following financial consulting engagements to help you with understand how your business is performance so you can stay on top of any fluctuations.
- Business Assessment: An engagement which is a deep dive into every part of your business in order to understand how your business is performing and where your performance bottlenecks are that could impede your growth.
- Productivity Analysis and Review: This engagement will help you maximize your profits based on your current resources which include people, services, materials, asset usage, and anything else that affects your profit generating processes in your business.
- Margin Analysis: Understanding your business profits from sales and the variations that may occur based on volume and / or product mix increase, decrease, or change.
- Risk and Sensitivity Analysis: The assessment of the outcome of your financial plan based on changing assumptions and market conditions regarding your growth assumptions.
- Profitability Analysis: This will take your margin analysis to the next level by considering all of the operating , sales, and administrating expenses.
- Management Reporting: This would include the development of reporting tailored for management in order to run the business more efficiently and effectively with an increased focus on Key Success Factors for growth.
EXEcutive management and coaching for your business
As you begin growing your business, you might need to have business and financial guidance to help you get and maintain the growth you need. We are able to provide you with the level of help that suits you.
- Business Coaching: Acts as an advisor, counselor, and guide to the business owner to bounce ideas or gain advice for financial matters and if needed can act as a member of there team if needed.
- Executive Management: Acts as a senior member of the management team (CFO) on a part-time basis.
We are located in Durham Region, but are able to provide business coaching and business consulting services across Ontario. Our local service area includes Oshawa, Whitby, Ajax, Pickering, Clarington, Bowmanville,Peterborough, Lindsay, Port Perry, Uxbridge, Toronto, Markham,Richmond Hill, Newmarket, Vaughn, Aurora, Mississauga and Brampton. Outside our local area, travel and living expenses will be applied as required
Rudy Fischer, CPA, CMA | (289)279-1970 ext 102