Monthly Archives: July, 2019

How To Stay Ahead Of Your Competition

July 30th, 2019 Posted by Uncategorized 0 thoughts on “How To Stay Ahead Of Your Competition”

STAY AHEAD OF YOUR COMPETITION 

Growth can come from numerous sources whether its your consumer base, your competition, or new markets. Whether you’re an SME or a mature, established company, growth is important to remain competitive to ensure progress and profits follow.

Invest in your Financial Strategy

Why wait to get your finances and business in order when your business will only grow with the right financial planning and strategy? You would never navigate a boat looking out the back. The same applies for navigating your business. Having a part-time Finance Director would help provide insights such as forward looking financials and metrics so you know where you are heading.

With your accountant keeping the past year’s books watertight and balanced, if you spend too much time staring into your rear-view mirror, you’ll miss what’s coming ahead. In this sense, a seasoned FD will ensure that you’re able to capitalise on future growth opportunities and confidently move forward.

Find a new growth opportunity

To find a new growth opportunity, new markets can lead to new consumers and possibly new products. Foreign markets all have their different quirks, thus for most firms, operations and product offering differ depending on the international market.

For example, the classic Oreo flavor enjoyed in the American market failed when Nabisco attempted to launch the same product in Asian markets. Even with a major marketing strategy it failed, thus they reanalysed the market and changed the taste and ingredients to be more in line with what works in Asia and have thus reaped the rewards.

Understanding new markets can lead to not only a new, untapped consumer base but also new products.

How can we help?

We work with you and for you to move your business forward across the key areas you want to change. This isn’t coaching, this is access to strategic and experienced professionals working to help you, not coach you.

With our specialised business expertise, we can help take your business to the next level and find that next growth opportunity. All you have to do is follow up with us for your free consultation and we’ll be here to help!

Click below to get in touch with our team right away!

Contact

What Are Your Monthly Goals?

July 30th, 2019 Posted by Uncategorized 0 thoughts on “What Are Your Monthly Goals?”

What are your goals this month?

Keeping a business afloat means planning, planning and more planning. Are your employees aligned with your company goals? Are you meeting your financial goals? Do you need help with people and operations?

Employee + Goal Alignment

If your company has future objectives aligned with your employees, you can achieve your goals a lot quicker. Employees appreciate a stronger feeling of teamwork and are less likely to leave the business. Aligning employees with the objectives of the company makes them feel an essential part of the company.

Developing a trust and loyalty with your employees is an absolute must. This will encourage a motivated workforce, employee retention and a healthier work environment. Workplace culture and productivity are directly correlated with the people that inhabit a company.

It can take years to build a reputation and culture and just mere minutes to destroy it. In the end, a company only goes as far as the employees are willing to take it. To prosper, an environment of cooperation, creativity, and productivity must be cultivated.

Reach your financial goals..

As an entrepreneur, it can be easily forgotten that large businesses always start off small but unlocking the secret to growth lies in the team you choose to help build your brand.

A Financial Director that is devoted to your firm will help highlight growth
opportunities and use a bank of commercial experience as well instinct for strategic planning to set you on a path of sustained expansion – unlocking untapped markets and investment for growth.

Finance Directors fulfil a variety of functions:

  • Challenging and advising on growing the business
  • Developing and improving internal finance and business systems
  • Strategic advice and recommendations to Board and other key stakeholders

If you find yourself lacking in a particular area, whether its deal-making, accounting, or operations, there’s always the opportunity to reach out to us for help. Whether you view yourself in a position of financial distress or you want to improve in any areas, our trusted and seasoned finance professionals can give you the advice and skill set needed to benefit your business.

We can give you access to our experienced team to give you the advice and skill set needed to benefit your company.

Get in touch with the team- contact@evokemanagement.co.uk

How To Unlock Your Business’ Growth Potential

July 30th, 2019 Posted by Uncategorized 0 thoughts on “How To Unlock Your Business’ Growth Potential”

Understanding and processing all of the necessary information for growth can be difficult. This is why you’d want to ensure you’re not limiting your business’ growth potential.

When coming to the stage of business growth, Finance Directors become indispensable to moving your business forward. Effective strategic planning, credible future forecasting and recommendations on financing overall operations is not something you can do alone. Unlocking the secret to success often lies in delegation – your team is an investment, not an expense.

FD’s are responsible for outlining KPI’s, monitoring overall operations and ensuring your business stays on a path of meaningful growth. Working as part of the team to deliver a clear vision for the future finances of your business.

In order to unlock your business’ growth potential, you need to increase clarity about your company’s goals. Understand and articulate what type of effort will be required, the motivation behind each goal, and why they are important to your business. Create action plans to reach your goals by breaking them down. Turning long-term goals into daily actions will establish commitment to seeing goals through to completion.

Another way to learn about your potential growth is through your competition. One can either choose to learn from a competitor and try to replicate their success or find an avenue to separate and differentiate themselves from competitors. Both avenues can lead to increased production as well as heightened brand awareness. Opportunities can also be found by analyzing substitute industries. If a similar industry has a large consumer base, then there is opportunity to learn why consumers choose the alternative industry.How do I start?

Our team specialise in different areas of business from financial strategy, growth planning, teams and operations that they are ready to share with you. This is one to one guidance of the highest standard. Whether you need to find better ways of operating, recruiting, targeting your customer base or growing your business, working with our trusted professionals can give you the extra edge you need to keep moving your business forward.

Email contact@evokemanagement.co.uk to get in touch with our team right away!

3 Top Tips To Improve Your Business Performance

July 26th, 2019 Posted by Uncategorized 0 thoughts on “3 Top Tips To Improve Your Business Performance”

1. GROWTH PLANNING

Growth is an important part of any business. Whether you’re a small firm trying to make a name for themselves or a mature, established company. Growth is important to remain competitive and to ensure progress and profits follow. It’s all about identifying your growth opportunities, whether it’s your consumer base, new markets or your competition.

Growth planning includes finances and planning to operations and handling suppliers. This is where we can help . With our specialized business expertise, we can help take your business to the next level and find that next growth opportunity.

2. STAFF MOTIVATION

If you’re a business owner looking to build a highly engaged workforce, drive profits through the roof and benefit from a government backed tax efficiencies, Employee Ownership is something you should consider. Companies that became 100% employee-owned received an instant positive change since their transition. One simple change can help instantly improve your business performance.

We have an experienced team that have worked with companies across sectors to help transition to employee ownership. We take a holistic view of the process and ensure the true benefits are realised for shareholders and employees.

3. FINANCIAL STRATEGY

Your business will only grow with the right financial planning and strategy. If you still remain small, it might be because you aren’t benefiting from outside guidance. You need a long-term strategy for sustained success, to improve a business built to last and remain profitable with specialised guidance that parallels that of your competition and bigger businesses.

With our specialised financial expertise, we can take your business to the next level and deliver a clear vision and unparalleled expertise to your financial strategy.

We focus on strategic growth planning, which means designing and developing your business strategy, plans and procedures. This is by setting and communicating your goals for performance and growth. If you would like to find out more, get in touch with our team right away contact@evokemanagement.co.uk

Do you still need a Finance Director if you already have an Accountant? Yes!

July 17th, 2019 Posted by Finance 0 thoughts on “Do you still need a Finance Director if you already have an Accountant? Yes!”

What’s the difference between a Financial Director and general accountant? Well, an FD is necessary when moving your business forward.

Many people think they don’t need a Financial Director because they already have an accountant.

Firstly, an FD is necessary when moving your business forward.

Rather than reporting on the past financial health of your business, an FD will impact on the financial health of your business through strategic planning, commercial decision making and tighter financial controls.

​It’s valuable to have an outside and objective perspective on your business. Your accountant won’t be able to provide this as they are too close to the business itself.

With your accountant keeping the past year’s books watertight and balanced, if you spend too much time staring into your rear-view mirror, you’ll miss what’s coming ahead. In this sense, a seasoned FD will ensure that you’re able to capitalise on future growth opportunities and confidently move forward. Providing crucial guidance on strategic planning, credible future forecasting and recommendations on financing overall operations and meeting targets, FD’s become indispensable to growing your business.

You have to have an accountant first to have an FD. They actually compliment your accountant by taking their work and bringing strategy, planning and experience to the figures to help move the business forward.

If you’re looking to move your business forward, our part-time FD’s can help do just that. Get in touch with our trusted and seasoned finance professionals to discuss more opportunity contact@evokemanagement.co.uk

 

How do you know when it’s the right time to get a Finance Director?

July 11th, 2019 Posted by Finance 0 thoughts on “How do you know when it’s the right time to get a Finance Director?”

When is it the right time to get a Finance Director?

Given that most SMEs fail within their first year of business, investing in a team of professionals with your company’s best interest at heart becomes invaluable – especially as you begin considering expansion or improving financial performance.

They focus on:

Challenging and advising on growing the business
Developing and improving internal finance and business systems
Strategic advice and recommendations to Board and other key stakeholders

An FD is constantly exposed to tackling a range of financial problems that plague small businesses, financial directors are seasoned in protecting businesses from the holes in cash flows that can eventually sink even the largest of ships. This is where guidance from individuals with experience becomes crucial.

FD’s are instrumental to outlining KPIs, monitoring overall operations and ensuring firms stay on a path of meaningful growth, working as part of the team to deliver a clear vision for the future finances of a business.

Do you think your business needs a part time FD? Get in touch with us contact@evokemanagement.co.uk

Do you know what kind of Finance Director you have? Sometimes two are better than one!

July 5th, 2019 Posted by Finance 0 thoughts on “Do you know what kind of Finance Director you have? Sometimes two are better than one!”

An FD is necessary when moving your business forward. They will impact on the future financial health of your business through strategic planning, commercial decision making and tighter financial controls.

If you already have an FD then that’s great. I’m sure they understand the importance of proper planning and strategy. However, it’s worth checking that your FD provides you
with relevant and insightful reports that give you what you need to run your business.
If you think you need to review your strategic finance input, then you should consider what FD you need.

Sometimes two FD’s are better than one, there’s so many different types and skill sets an FD could have:

– An FD who restructures the balance sheet, builds up M&A deals, reports and closes the books, and understands the inner workings of the business

– An FD that has the strength, poise, and experience to make the difficult decisions on staffing, lenders, and suppliers

– An FD who acts as an expert of the business and can achieve increased productivity and efficiency throughout the company’s operations as a whole.

For example, if a crisis occurs resulting in a shortage of cash flow, your current FD may lack the necessary abilities and need assistance to kick start the turnaround. This requires a different FD who can provide the right perspective needed to spur the turnaround involving precise negotiations and proper management of the workforce.

It’s essential to have FD’s who have different skill sets that can collaborate and ensure the success of your business.

If you need an FD tailored to your needs, get in touch with our team right away contact@evokemanagement.co.uk

Considering Employee Ownership? These companies have recently turned their employees into owners

July 5th, 2019 Posted by Team 0 thoughts on “Considering Employee Ownership? These companies have recently turned their employees into owners”

Richer Sounds is the latest company to transfer ownership onto their employees! Founder, Julian Richer has decided to give his 500+ employees a 60% stake in the business following his 60th birthday. Each of the employees will pick up £1,000 for every year at the firm, giving an average payout of £8,000, placing the shares in an Employee Ownership Trust.

Due to having no children to hand over ownership to, Julian Richer found the need to transfer ownership to those he trusts. He quotes “I didn’t want to sell to a stranger who might have completely different aims and ambitions for the business. I’m hoping it will ensure the succession of the business”. It has been voiced that co-owned companies tend to be more successful, competitive, profitable and sustainable!

Compared to John Lewis, who are the largest employee-owned company in the UK. In the challenging world of retail, the Employee Ownership structure allows the company to plan for the long term. It has been said that an industrial democracy, where employees share knowledge, power and profit, was a better form of business. This has shaped the company culture and encouraged the happiness of all its members.

BT are also another company who are handing out shares to their employees. Since announcing cuts to its 100,000-strong workforce last year, there were concerns of stress and low morale among staff. Now, with the aim to increase motivation amongst staff, the shares will go to BT employees around the world.

To read more about these companies’ transition to Employee Ownership, click here https://www.bbc.co.uk/news/amp/business-48297641

Are you thinking about transferring ownership to your employees or Succession Planning? We can work with you to identify the best route for successful business transition. Get in touch to discuss more opportunity- contact@evokemanagement.co.uk

Our Company
Follow Us

 

© Evoke Management 2020