Posts by Seun

What Businesses Can Learn From COVID-19 (3 Tips)

March 24th, 2020 Posted by Uncategorized 0 thoughts on “What Businesses Can Learn From COVID-19 (3 Tips)”

Social distancing, while good for public health, is bad for small businesses. Foot traffic has dropped steeply since the Coronavirus outbreak as more and more people stay home and self-quarantine.

Almost every company has implemented a work-from-home policy due to the spread of the virus, businesses are now tasked with trying to be just as productive without their normal resources and routines. What can you take from this uncertainty that allows you to work more efficiently going forward? Well, the following:

1. Embrace New Ways Of Working

With large numbers of people now not just being asked to self-isolate but having isolation enforced by their government, the momentum for us to change our usual routine and mindset is growing fast. In the past few years, the experience of flexible working has changed dramatically thanks to the development of new platforms and collaboration tools and new networks.

To protect their workforce, companies are asking their staff to work at home. Google and Twitter suspended all non-critical business travel and events, and told all of their employees to work remotely. Research has shown that more flexible work policies that give workers more control over when, where, and how they work don’t hurt business performance. Instead, such policies can lead to less stressed, more satisfied employees who are less likely to quit.

With a crisis like Coronavirus, the benefits of home-based working become obvious. But this should spark a more general conversation in our workplaces about the benefits of a truly flexible approach to work. Organisations that go further, pandemic or no pandemic, will enjoy improved productivity, higher job satisfaction, and a renewed ability to attract top talent.

2. Find Other Ways To Engage With Your Clients/Customers- Embrace Tech

Many business owners are worried that the impact of COVID-19 will be deeper and more long-lasting than anticipated. As a result, businesses in every industry are looking for ways to keep their customers during this pandemic.

Clients are — sometimes surprisingly — open to more creative ways of working too. Whether it’s offering access to experts on a part-time “value added” basis, or moving face to face demos of your service to online/virtual, often their needs can be met far better with a little lateral thinking and open-mindedness.

Stream/ Video chat your services- Go digital with your services to continue to provide access to your customers who are sitting at home, wishing they could support your business. Tutors, personal trainers and even therapists are making themselves available virtually. Use a free tool like Google Hangouts, Skype or Zoom to offer your services remotely.

Host your event online- It’s important to recognise that most consumers are craving entertainment while being quarantined at home. If you had a workshop, product launch or seminar planned, move it to one of the live streaming social media channels or better yet, host a webinar.

This is something we’re doing here at Evoke Management and it’s working! It’s a great way to keep your customers engaged and build goodwill, as well as to sell your products. Get creative with how you can make customers still feel invested in your brand and engaged with your content from a distance.

3. Effective Communication

Internal communication is an essential part of crisis management, especially if it’s a pandemic like COVID-19. If your team isn’t informed and doesn’t understand what is going on, communications outside of the organisation will be more difficult. You need to demystify the situation for employees, put everyone’s mind at ease, and provide hope for the future.

Investing in video conferencing software such as Zoom or Skype will enable you to conduct as many meetings via video to ensure your team is more engaged, connected to their colleagues and invested in the success of the team. They need to know your business is committed to making their remote work lifestyle as comfortable and effective as possible; these technology investments go a long way in assuring an easier transition.

The situation is evolving rapidly, and no one is quite sure what news each day will bring. Your clients/customers can empathise with businesses facing a crisis, as long as you communicate with them properly. Let them know if you’re closing your doors/changing your hours and what steps you’re taking to keep your employees and work environment safe and clean. You’ve probably already received lots of emails on behalf of CEOs describing the steps they’re taking to mitigate risk, but this is an effective method of communication.

We hope the above has shown you that although Coronavirus is a terrible public health threat, there is a hidden upside; It gives us a chance to rethink how work is organised and bring our policies into the 21st century. Inevitably, you will need to change and adapt the way you work, so be sure to track the outcomes what works and what doesn’t – to enable you to maintain the efficiencies when you’re back to normal.

If you need help with adapting your business to this change or would like steps on how to do so, reach out to book a free 30 minute video call with one of our experienced directors.

Raising Investment In A Challenging Environment

March 19th, 2020 Posted by Uncategorized 0 thoughts on “Raising Investment In A Challenging Environment”

There’s no doubt that business owners are, understandably, freaking out. It’s hard enough to raise money in a healthy economy, let alone when the stock markets are tanking globally. Raising investment in 2020 is going to be all about survival of the fittest. Not just surviving and thriving, but being able to communicate how well you’re doing that to potential investors as well.

Many startups are being advised to slow down or stop hiring, slash spending, work from home, cut out travel — and prepare for tough times ahead. Yet that’s little comfort to founders mid-fundraise — or with a short runway of cash — who are now wondering if, not when, they’ll be able to close their next rounds.

Regardless of how serious COVID-19 gets, the hit to the markets and the economy is already looking severe — and likely to last for some time. This is going to make fundraising hard for all startups.

Here are a few of our suggestions:

WFH to reduce costs: Many companies are able to reduce cash burn forecasts due to lower travel costs. You should consider ending your rental contracts at shared/flexible offices given that everyone is working from home.

Close the deal: If you are fundraising right now, do everything you can to complete that fundraising as quickly as possible.

Keep your milestones current: Make sure you have a clear sense of what milestones you think you need to hit in order to raise your next round — and think about how those milestones might change if your revenue plan is delayed.

Plan ahead and report: Start planning your fundraising a bit earlier than you might otherwise have planned. If you haven’t already implemented a steady measure of monthly reporting to your existing investors, now would be a good time to develop that discipline. You may need their support and the better you are communicating — the better.

We have a FREE Investment Ready webinar on the 23rd of March to help you with your investment readiness process. If you think your business would grow faster with a capital injection of £250k – £10m, we can help you be ‘Pitch Perfect’ and introduce you to potential investors in just 8 weeks.

You can still make progress in your business even if you’re working from home. To find out how you can attend, click here. 

If there’s anything you would like to discuss with our experienced team around the current uncertainty, please get in touch with us.

3 Exit Strategies For Business Owners To Consider

March 11th, 2020 Posted by Uncategorized 0 thoughts on “3 Exit Strategies For Business Owners To Consider”

Everyone has developed an exit strategy at some point in their life. Going to a family gathering and don’t want to get caught up in conversation with your crazy uncle? You probably have an exit strategy for how and when you’re going to get out of that discussion. However, as a business owner, have you thought about what an exit strategy means for your company? Why should you have one? And are there different types of exit strategies?

Here is an opportunity for you to begin thinking about how and why an exit strategy may be good for your business. It’s important to assess your personal and business goals to identify which exit strategy aligns with your future goals.

Even if you’re a small business, it’s a good idea to plan ahead and think about how you will transfer ownership of the business down the line, whether you choose to sell the business, or try to scale it and seek to be acquired. It’s never too early to plan.

1. SELLING YOUR BUSINESS

If your primary motivation is to make a profit, retire, or invest in a new venture, selling your business may be a good route. You need to decide what exactly is for sale: the shares in the business, or the trade and assets (this is usually less tax-efficient).

Then you need to find the right buyer. A good starting point is to approach competitors and companies in related fields. Explore multiple options, as having several interested bidders can increase your sale price.

Work with your Finance Director to maximise the value of your business in the run-up to the sale. Any flaws in the business will be revealed by your buyer’s due diligence, so conduct your own checks first to address these. Selling may take anything up to two years, so plan well in advance and draw up a timetable for keeping the process on track.

It’s also important to consider the impact of each type of buyer on your staff, your customers and your company legacy, as well as on your shareholders, if applicable. The highest bidder may not be the best option if your reasons for selling extend beyond financial gains, but only you can decide what matters most.

Your ultimate business and personal goals and reasons for selling, whether they’re financial, physical, emotional or just wanting a reduced workload with some control so you can enjoy what you’ve created, help you identify the type and potential shortlist for a trade sale, but you’re not alone in what can be a very daunting process. There are plenty of corporate finance advisers who can help you, but the final decision rests with you.

2. EMPLOYEE OWNERSHIP

Often referred to as the ‘John Lewis’ model, transferring ownership to your employees should be one of those options you consider. This is either through direct employee ownership where your staff become registered individual shareholders of the majority of shares in the company, or indirect employee ownership where the shares are held in an employee trust.

There are many examples of high performing employee owned businesses. If more motivated and engaged employees sounds appealing then considering employee ownership as part of your succession and exit strategy will align with your objectives. The Employee Ownership Association has said this is an increasingly popular option for business owners looking for the next step.

Companies which are employee owned, or who have large and significant employee ownership stakes, now contribute £30 billion in the UK. With a 3.3% increase in employees within employee-owned companies and a 4.6% increase in sales year-on-year.

According to CEO Deb Oxley, employee buy-outs mean a sale is less likely to result in a closure of a business and can be a way for business owners to preserve the integrity of their company.

Employee Ownership encourages your employees to get more involved in the company’s vision, governance and ensures they are fully engaged and motivated with the company goals.

3. MANAGEMENT BUY-OUT (MBO)

An MBO is where a company’s management team acquire the company from its current owners. Business owners who choose this option typically have strong non-financial motivations. Although price is important to them, factors such as company legacy, employee welfare and local community are often equally and sometimes more important.

An MBO can provide a smooth, flexible and quick transaction, probably more importantly, the process will often leave the exiting owners feeling content in the knowledge that their business will be left in good hands.

3 Main Advantages:

Maintained confidentiality with regards to business processes, and other details that could compromise a company’s success if fallen into the hands of competitors.

Minimal buyer due diligence when compared with a trade sale.

Greater confidence for you, given the management team’s in-depth experience of running the company

The best exit strategy is the one that best fits your business and your own personal goals. Decide first what you want to walk away with. If it’s just money, an exit strategy such as selling on the open market or to another business may be the best pick. If your legacy and seeing the business you built continue are important to you, then family succession or employee ownership might be best for you. Whichever exit strategy you choose, you need to start working on it. Planning in advance gives you the time to do it right – and maximise your returns.

If you’re looking at exit strategies and need help finding the best route for you, feel free to get in touch with us.

How To Make Sure Your Business Is Fit For Purpose

March 6th, 2020 Posted by Uncategorized 0 thoughts on “How To Make Sure Your Business Is Fit For Purpose”

At the start of the year, people started making resolutions and plans. And then by February/March they are all thrown out as the pressures of business and life get in the way. However, you can steal a march on this problem. You can make sure that your business is fit for purpose. This means that you’ve goals and plans for the business. The chances are that your business has grown. And with that growth your team has just expanded to fill the gaps – taking on additional tasks and stepping up to the plate.

A strong organisational structure is essential for any business to thrive and grow – it’s the foundation on which success is built.

If you have a poor organisational design, it can lead to ineffective communication, low morale and reduced productivity and profitability. Even if you have extremely motivated employees, they will still struggle to thrive if they’re working in a poorly-structured organisation.

It’s important to know that businesses with a strong sense of purpose continually outperform those without one. How? And why? Well, the reasons are surprisingly straightforward.

If a business has a stronger sense of purpose, it has a better connection to its staff.

Employees who feel they are ‘doing good’ at work undoubtedly perform better than those who are merely a cog in a machine. Nowadays, younger people demand employers who demonstrate how they are ‘doing the right thing’. In order for an organisation to be successful, they need staff who are engaged, motivated and smart.

There are many examples of businesses that use their purpose to inspire customers. Toms, the shoemaker, distributes one pair of shoes to a child in the developing world for every pair sold. When a company demonstrates an authentic purpose, consumers feel a connection to the products and company. They will often choose products with purpose, even if they’re not the cheapest.

Your business will undoubtedly benefit from a stronger, enhanced reputation when your purpose is deeply ingrained in everything you do. Employees tell the story, consumers choose your product over your competitors, investors feel more confident, and stakeholders positively engage.

While purpose draws on your vision, mission and values, it also goes beyond, and explores why the organisation exists. The creation of a core narrative around purpose helps to shape everything the organisation does, from new product development to hiring staff.

Having a flexible approach allows you to test and respond, shape ideas with different audiences at different stages and continually adapt, and improve. If your organisation has the will to ‘do the right thing’, the result will be a more successful business.

You can transform your business through the use of process mapping and strategic management tools.

First, you’ll need to closely examine management and team structures to identify problem areas. Then, gain a thorough understanding of your business and its culture, which will help you address these issues, ensuring the right people are in the right roles and are equipped and supported to deliver results.

If you are serious about business growth this year, feel free to get in touch with us to make sure your business is fit for purpose.

How To Juggle Financial Challenges As A Fast-Growing Company

March 3rd, 2020 Posted by Uncategorized 0 thoughts on “How To Juggle Financial Challenges As A Fast-Growing Company”

Cash Flow Management and Cost Controls

There’s a common reason why businesses fail, and that’s cash flow. This is especially true for rapidly growing businesses.

When your business is growing fast, the most valuable thing you have as a CEO is your time. You need to be in control of the rudders on the ship and you really don’t want to be worried about chasing cash. So what can you do to confidently manage cash flow during rapid growth in your business? Optimise your pricing and review and readjust your spending.

Cash Flow problems cause you to not re-examine your pricing model or experiment with value pricing because you are too scared to lose business. CEOs sometimes tend to make the mistake of offering discounts to generate cash when cash flow is fluctuating as a quick fix. It may feel like the right decision because you feel the urgency, but the long term effect is not sustainable. If you have a solid pricing model and a plan to experiment with value pricing, you won’t get backed into making ad-hoc pricing mistakes that will end up having long-term effects. How well you price your products/services and the margin it produces is the key to maximising cash flow.

When your business is in the midst of rapid growth, you’re often faced with big spending decisions to advance your business’s infrastructure – location, hiring, inventory, equipment, technology.

Fine-tuning these areas of cash flow management enables your business to be scalable. Scalability will help you successfully grow and adapt to increased volume without compromising on quality, performance, service, or any element that’s key to your business.

Also, in terms of spending, you want to take educated risks – By tracking valuable KPIs over the year, you can gather actionable financial intelligence that will help you quantify ROI and make good long-term decisions on spending.

Internal Controls

While there is no such thing as 100% assurance, knowing that there is a strong internal control structure in place that includes both preventative and detective controls should give you the comfort to be able to sleep soundly at night. Evaluation of your current internal control structure includes asking the “How do you know?” questions for each business process:

How do you know all of your cash is being recorded completely, and you are recognizing revenue accurately? How do you know you’re hiring the “right” people?

If you’ve answered “I don’t know” to any of the above, then there may be areas where you have control gaps. You want to look closely at each process, identify these gaps and assess the risks associated with them.

Filling out expenses is time-consuming, receipts get misplaced, and employees often categorise expenses incorrectly. Companies like Travelport Locomote, get their employees take a photo of their expense receipts. The company then uses software that scans data such as the date of the expense and the amount spent from the receipt and automatically categorises it, which means the only information employees have to enter manually is the name of the guest they entertained at the meal they are expensing.

Ultimately, Travelport Locomote is leveraging technology to reduce human error and improve internal controls at the same time as reducing the burden on employees.

Risk Management

Usually, finance and strategy teams have been tasked with working together to promote corporate growth. Now, new research has shown that you need to consider risk management—to achieve sustainable long-term growth for your business.

But taking such risks does not come naturally for most companies. In fact, in 2016, 77% of CFOs reported that the amount of risk aversion from executives in their organization rose from the previous year. What these executives do not understand is that, like cholesterol, there are good and bad kinds of risk. Bad risks are more obvious and distinguished by recklessness and wrongdoing. These are what the risk management function is normally associated with—putting controls in place to keep bad things from happening. But companies need to take risks to grow, and there is a role for risk management to play in helping with that.

To get this right, finance, strategy and risk management teams need to join forces. This presents risk management with an opportunity to demonstrate its value by enabling senior leaders to make high-risk growth decisions. Risk leaders can help companies change their approach to new growth opportunities by taking three key steps:

Coordinate risk and strategic planning.
Discuss risk appetite within the appropriate context.
Develop an active risk appetite.

The above shows that risk management, cash flow management and controls, are key to efficiency when you’re juggling the finance challenges of a fast-growing company. If you’d like to talk to us about how you can move your business forward whilst facing these challenges, feel free to get in touch.

Why an Outside Perspective Is Essential to Your Company’s Growth & Success

February 21st, 2020 Posted by Uncategorized 1 thought on “Why an Outside Perspective Is Essential to Your Company’s Growth & Success”

Every business and organisation needs to get that outside perspective. You are too close to what you do to be truly objective. You need people who can push and move you forward.

At the start of the year, you may have felt like you have exhausted all of your resources and were stuck on where to go next. This is when you may want to consider opting for outside guidance, especially if you are looking to achieve a significant amount of growth or change. Every so often — whether things are going unbelievably well or spiralling out of control — you need an outside perspective.

One way to ensure that your business is on the appropriate path for growth is making sure that your company is implementing the correct methods of financial planning and strategy. Outside expertise can make a massive difference for your business, especially if your business is still smaller than you hoped to be. In addition to bringing a sustainable long-term strategic plan that will help you improve your business while remaining profitable, they also bring fresh perspectives and help point out challenges you may have not even noticed existed.

Trying new things without guidance could potentially lead to making easily avoidable and very costly mistakes. However, trying new things with the proper advice and having a hand to lead you through the common roadblocks can truly benefit you and help your business reach its greatest potential. Now may be the time to consider how much your business could truly benefit by bringing a part-time director on board.

Your board members can help you see the forest through the trees — evaluating what’s worth worrying over and what doesn’t deserve your attention. They can also help the company expand its areas of expertise, proactively evaluate and mitigate risks, and increase credibility. Don’t fly blind. If you’re thinking about growth capital or an exit, a board of directors can help navigate important decisions along the way.

So it’s not exactly an “outside” point of view — but your employees will have worthwhile feedback that you’d be loathe to ignore. Pick their brains for their take on your business model, leadership style, senior management, marketing strategy, and more. More junior employees are more likely to hear honest reviews of your products or service offerings from customers than you are as CEO.

In the constantly evolving and fast changing pace of business, leaders need to call upon and benefit from others’ insights, opinions, expertise, and critiques to ensure that they are relevant, desirable and the best place to go for both their employees and clients/customers.

Julie Barber, Founder & CEO of Spark! Consulting talks about looking at your company through an investors’ eyes. https://vimeo.com/392715410

If you’re looking to raise investment for your business, we have an exclusive session with Spark! Consulting next Tuesday 25th February which will give you a clear understanding of what investors are looking for and a step-by-step guide to the process of getting ready for investment.

If your company is looking to raise between £250K- £10m, you’ll really benefit from this event as you’ll be hearing from the most experienced Finance and Commercial Directors who’ll be able to answer all your questions about raising investment

Tickets are £49.50+VAT Click Here To Purchase

How To Fall Back In Love With Your Business Again

February 14th, 2020 Posted by Uncategorized 1 thought on “How To Fall Back In Love With Your Business Again”

When you started your business, it probably felt like falling in love: it’s exciting, exhilarating, and new. You want to savour each moment and be your very best every minute of every day. However, after reality sets in, you may discover that not everything about running a business is so amazing. There will be tasks you don’t like to do, activities you find stale and boring, technical difficulties to test your patience, and clients who might challenge you and your business.

Thankfully, however, you can rekindle the flames of passion for your business after the honeymoon is over by making a few subtle changes in how you work and think. We’ve put together the following tips to help you love your work and business again:

Reinvent The Wheel

One way to fall back in love with your business is to find ways to “reinvent the wheel” and make your business more efficient. Take an objective look at how you’re managing your employees, producing your products and services, and running your business overall to identify where your productivity hits roadblocks. Then, brainstorm with your team to discover tactics and tools that can improve workflow and yield better results. Taking a moment to review your business, when you feel rested and ready to strive again, is hugely advised. You’ll solve loads of your business issues and set yourself up for another successful stint.

Delegate:

This is common amongst business owners- you don’t need to do everything yourself! If they really don’t need your personal attention or expertise, consider handing them over to someone who is perfectly capable of tending to them. There are so many different tasks that are involved when running a business, and there will be some that you may find monotonous. Even if you had all the skills to do an outstanding job in all areas of your business, you will still be constrained by time. Most days, you’ll be lucky if you even get done what you planned to get done when your day started.

Find New Growth Opportunities:

Always begin with identifying your growth opportunities, whether they are consumer based, market based, or even competition based. Create a clear definition and understanding of how different growth strategies can impact your particular business performance. These tasks will help provide you with a direct road-map towards success.

This is when Innovation is key. You as a business owner need to implement innovation and creativity into your business strategy, where you can create a culture of innovation and make space for creative thinking. It can also increase the likelihood of your business succeeding and can create a more efficient process that can result in better productivity and performance.

Have A Work/Life Balance:

Whilst having a successful career is an important part of many people’s lives, it’s also important to find a good balance between your job and your personal life. Not only is this great for your well-being but it also ensures you’re getting the best out of both parts of your life. As crucial as it is to schedule time to get your work done, it’s important to schedule time for breaks. Take some time out to take a few breathers throughout the day. Use this time for things like checking your LinkedIn, company’s latest news, or just simply relax.

Don’t lose hope if you’re not currently feeling fondness for your business like you used to. Although the spark of adoration may have dimmed as you face the day-in-day-out realities and challenges of entrepreneurship, all is not lost.

With a little effort, adjustments, and patience, you can revive your affection and keep your love alive.If you struggle with doing any of the above, we’re always here to help you move your business forward.

3 Ways To Be Investment Ready

February 4th, 2020 Posted by Uncategorized 0 thoughts on “3 Ways To Be Investment Ready”

Are you contemplating transitioning ownership of your business to the next generation? Selling the business to a third party? Or looking to attract equity capital or debt to achieve expansion plans? Well, in any of these scenarios, your business needs to be Investment Ready to maximise the success of your chosen path.

Here are our three suggestions to help you get Investment Ready:

Become ‘Pitch Perfect’

An important part of growing any business is the ability to clearly and effectively pitch your business plan to investors and potential partners.

Like all relationships, you only have one chance to make first impressions. Moreover, most investors are very busy and their time is precious. This means you only get a single shot towards success with each investor, so you better hit the bullseye. Investment readiness is a process that requires being prepared.

Understand your business so you can address all the questions adequately, be clear on what it is you want and your objectives, as it’s as important the investor aligns with this as much as you fulfil their objectives. Anticipate what they are likely to ask and think about certain scenarios. Make sure their potential questions will not expose flaws in your business strategy.

Get the right team around you

When you step into this part of your growth process and begin to expose yourself to potential investor groups, investment readiness is pivotal in ensuring your likelihood of success. Having a Finance Director behind you is crucial when you’re approaching these investors. Within your team, you can; look at the stage you are currently in, and try to find out what you need to do to make the criteria for the next level. What is the fastest way forward? Are you working on the right things?

Finance Directors are there to help you through this growth process. You need someone who will push you further than you will push yourself, someone with a different perspective, someone who’s in your corner.

Any investment ready business should be in a position to clearly demonstrate a strong team, a deep understanding of their market and competition, a detailed understanding of their business model, how the business makes money and what traction and key milestones have been achieved. Finance Directors can guide you through this process as they are an indispensable asset in helping to move your business in the right direction.

Use A Step-By-Step Guide

Investment readiness is a process that requires being prepared. It’s surprising how some business owners don’t invest in the investment readiness process in the same way they would invest in a product launch. Both are about making a sale and are crucial to success.

If you’re looking to raise investment for your business and would like a step-by-step guide to the process so it actually happens, we’re hosting an exclusive workshop with Spark! Consulting on 25th February to help you get ‘Investment Ready’ for the year.

There’ll be experienced Finance Directors in attendance, ready to answer all your questions regarding raising investment and to go through the step-by-step guide to the investment readiness process.

For tickets and more info click here https://investmentreadyfeb.eventbrite.co.uk/?aff=LFT

We want to help your business be ready for investment this year and ‘pitch perfect’ when it comes to meeting potential investors.

The tips above will help you eliminate many of the obstacles that make it harder to be investment ready. Not only will these tips make you more effective, but they will also help you avoid the inevitable stress and anxiety involved in raising investment.

Do You Want More Money, Time and Control?

January 31st, 2020 Posted by Uncategorized 0 thoughts on “Do You Want More Money, Time and Control?”

Integrating a Finance Director, part-time, can provide you with affordable and cost-effective methods that will help navigate your business’ financial future whilst you prioritise other tasks to help your business grow. The insight provided by these professionals enables you to easily avoid common mistakes. By leaving the details to someone who specialises in them, leaders, such as yourself, can begin to feel like they do have enough time- which allows them to hone in on moving their business forward.

A part-time Finance Director makes it possible and practical for your company to take on the experience, knowledge, and skills provided by an FD for a fraction of the cost of a full-time FD.

When you integrate a Finance Director into your team, it ensures that you avoid unaffordable mistakes. The core skills of a Finance Director will become essential to the inner workings of your business, these professionals will bring you a level of flexibility and control that you thought to be impossible. Furthermore, they will undoubtedly deliver a clear vision for your company along with unparalleled expert advice on your financial strategy.

Delegation is key to achieving work/life balance. Delegation takes time to implement effectively but is an invaluable task in terms of aiding in the development of your senior leadership team. Delegation also allows you to ‘let go’ a little bit while still ensuring that your business will continue to run smoothly- a great CEO is one who sets conditions that will allow their business to run seamlessly, whether they are in the office or not.

Identifying or investing in individuals who are responsible for detail-oriented tasks is one way to begin the delegation process. Scale up your business and retain complete control by bringing an experienced and professional part-time Finance or Commercial Director on board.

Investment readiness is all about ensuring your business is truly ‘Investment Ready’ before you pitch to investors. This ultimately saves you time, money and energy. As an entrepreneur, when you step into this part of your growth process and begin to expose yourself to potential investor groups, it’s pivotal in ensuring your likelihood of success.

If you’re looking to raise investment for your business and would like a step-by-step guide to the process so it actually happens, we’re hosting an exclusive workshop with Spark! Consulting on 25th February to help you get ‘Investment Ready’ for the year.

There’ll be experienced Finance Directors in attendance, ready to answer all your questions regarding raising investment and to go through the step-by-step guide to the investment readiness process. For tickets and more info click here

We want to help your business be ready for investment and ‘pitch perfect’ when it comes to meeting potential investors.

This should equip you with some tips that will help give you more money, time and control in your business. If you’d like advice on any of the above, feel free to get in touch with us as we’re here to help move your business forward.

Moving Your Business Forward With A Finance Director

January 24th, 2020 Posted by Uncategorized 0 thoughts on “Moving Your Business Forward With A Finance Director”

As you approach the stage of business growth, Finance Directors become an indispensable asset in helping to move your business in the right direction.

Effective strategic planning, credible future forecasting, and recommendations on financing overall operations are something an FD can provide on a part-time basis. Unlocking the secret to success often lies in delegation –your team is an investment, not an expense.

Expanding while also capitalising on growth opportunities, is the key to sustained profitability. An FD can provide strategic advice and recommendations to your businesses Board of Directors and other key stakeholders, because it’s extremely valuable to have an outside and objective perspective on your business.

How do you know when it’s the right time to get a Finance Director? Well given that most SME businesses fail within their first year of business, any time is the right time. Investing in a team of professionals that have your company’s best interest at heart is invaluable to your businesses success.

The ‘perfect time’ though, would be when you have begun to consider expansion or have shifted your focus towards improving financial performance.

How you can sustain profitable growth by having a Finance Director?

Money drives business and historical reporting is only so useful. FDs play a critical role in future forecasting and providing in-depth analysis of balance sheets to ensure a profitable future for you and your business. Rather than reporting on the past financial health of your business, as an accountant does, an FD will impact on the future financial health of your business through strategic planning, commercial decision making, and implementing tighter financial controls.

If you’re looking to move your business forward, a part-time FD can help to do just that. Whether you view yourself in a position of financial distress or you simply want to improve in any areas, our trusted and seasoned finance professionals will provide you with the advice and skill sets needed to benefit your business.

If you want to understand more about how valuable a Part-Time Finance Director can be and how they have aid in moving your business forward, download our FD Guide here.

Our Company
Follow Us

 

© Evoke Management 2020