How can we help? Let’s take a look!
Big Picture Assessment
Too often, we find that owners and managers are too close to the situation since they spend every waking hour thinking about the business. Therefore, our first step will be to help you see the bigger picture.
• Where are you?
• Where do you want to be?
• How do we get there?
With these three simple questions, you get a clearer idea of the owner’s financial, business, and personal goals. What’s the ultimate destination? What was the initial dream when the business was created?
When the long-term vision is clear, the day-to-day operation becomes easier too because everything should be pointed towards one goal; all subsequent operational and market decisions have the ultimate goal in mind.
Strategy and Implementation
Experience tells us that ‘one-size-fits-all’ strategies don’t work; therefore, we establish a tailored plan that allows the business to achieve the clearly defined goals. Thanks to our ability to execute successful strategies, we can position your business correctly (we know what it takes to succeed!).
This is somewhat of a buzzword right now and we think it’s important because all elements of the business should be working together. When every element is on a journey of progression and maximising potential, the business is optimised. With our assistance, you can strive for balanced performance and continual improvement.
Communication and Feedback
Even the best business plans can fail when they aren’t executed correctly, and communication and feedback play an important role in this process. With clear communication and feedback information available to all, this allows you to monitor progress. Additionally, it allows for effective course corrections as soon as they’re required.
When a business experiences poor cash flow, declining sales, shrinking profits, and lender fatigue, these normally suggest a fundamental issue with the business. You could bury your head in the sand, but this WILL lead to operational and financial disaster. Instead, you need effective management…something with which we can help (this probably doesn’t surprise you at this point!).
The upper management in your company needs the ability to deal with challenges quickly and make decisions that provide the business with the tools it needs to thrive once again. Unfortunately, most management teams haven’t experienced adverse conditions (whether internal or external).
For a turnaround to work, the business needs a leader just like a sinking ship needs a captain. With experience managing in these conditions previously, they can navigate these difficult times and implement a strategy that ensures a future. At RENT a CEO, we’re confident in providing businesses hope even when it seems all hope is lost.
Focus on Profit and Cash
Who doesn’t want to boost cash flow and profit? Even for those who have achieved their definition of ‘success’ and made it to the top, they will still be fighting for cash and profit. Why is this? Because cash can run out very easily. Luckily, we’ve developed some brilliant operating strategies through the years to boost sales and profits. As the foundation of all businesses, we can also discuss the management of cash.
What makes a strong company? Look online and you’ll find dozens of different answers. For us, it’s the people (in particular, the management). With this in mind, one of our early focal points will be to create a culture of honesty, communication, and accountability.
When that last word is mentioned, people often think it’s about pinning the blame of mistakes onto people. Instead, it’s more important to stress the idea of winning and losing as a team. With clear accountability, we can see what went wrong and where improvements can be made.
As soon as everybody is pushing in the same direction, each individual will want to work for their colleagues. Over time, the whole team will enjoy the success and celebrate the victories because they know their own importance in the 'machine’.
Dealing with Exits
All good things come to an end, and all business owners will exit at some point. While some walk out, others pass the business onto the next generation of family members, some sell entirely, and others sadly pass away. If you’re a business owner, it would be naïve to ignore the fact that you’re going to be leaving at some point (whatever the reason shall be).
In our capacity, we encourage owners to be proactive with this information because it’s something that often gets forgotten. For those who haven’t planned, we can help devise a long-term strategy that keeps the health of the business as the focal point at all times.
We understand, sometimes broaching this topic can bring up emotional issues or even arguments within the family. It’s often a complex process and one with which not many owners will have experience. To avoid confusion and allow your business to thrive, succession plans for the end of your tenure should be clear. When this happens, the business can keep fighting towards its goals whoever is holding the reins, and this is important.
By working with us, you can bridge the gaps and match your goals up with appropriate strategies in both the short- and long-term. Of course, it’s also important to be realistic with goals and timeframes; sometimes, playing devil’s advocate and offering a different perspective can be exactly what your business needs.
At RENT a CEO, we’re confident in our ability to prepare both you and your business for the end of your leadership period. We can save time, money, and other resources while also improving the value of the company.