Business Planning & Counseling
The team at Swiftcurrent recognizes that small business owners need help managing their business. We have boiled this down to three simple concepts; Produce, Understand, Act. The business needs to produce timely and accurate numbers that measure results of decisions made, management needs to understand those numbers, and then management needs to act to improve the results.
Business planning is the act part of the equation. When you work with Swiftcurrent Consulting & Accounting we become partners with you in growing your business and increasing your profitability. As your accountants, we are already familiar with the structure and finances of your company. Building on this knowledge, our professional team brings an array of business and strategic management experience finance and organizational development to your project. Our goal is to help you create extraordinary value for your business and for your life.
Our approach to business planning starts with an assessment of the business on all levels by analyzing the financial numbers, operations, and management. We will then discuss the goals of the owners and how to get those accomplished. The business will be divided into four main functions:
Guiding the business:
Guiding a business is all about leadership, planning, and direction. Without direction the business will struggle. Without statements of mission, vision, or core values, owners and employees will go about their day to day duties aimlessly. Most owners know what the dream is but don’t communicate it to the staff. A strategic plan will give that direction. We bring together the owner and key employees to prepare a strategic plan for the business. This process first involves creating a mission statement, vision statement, and a set of core values; followed by a set of strategic initiatives to accomplish the vision and deadlines for those initiatives. Every day the business owner is presented with opportunities, but which ones should he/she invest time, effort and money in? With your strategic plan in hand you will know which opportunities will help you accomplish your plan and which ones won’t.
Getting the business:
Getting the business is critical. What market are you trying to serve? How do you attract customers? What is the proper price point? These are all valid questions that the business owner needs to answer. Some of these questions will be answered during the strategic planning process. While we are not marketing experts, we can help in this area with pricing models and feedback.
Doing the business:
Doing the business is all about operations, systems, and efficiencies. This is the one area that many business owners feel the most comfortable. However, sometimes they can be too close to the operations to see needed changes. We help our clients by conducting an operational review. An operational review involves both financial analyses, and reviewing production and administrative systems for profit leaks. Finding inefficiencies in the operations of a business many times can add more to the bottom line then simply increasing sales.
Running the business:
Running the business involves everything else. This is the pile of work that always seems to get put on the back burner until it creates a problem. Issues that are part of running the business include personnel, collections, accounting, vendor relationships, compliance with local, state, and federal reporting, banking, corporate governance, etc. The list can be endless. As a result of the operational review mentioned above and along with our annual check-up we are able to help you stay on top of these many issues.
Other Planning Needs
During the life of a business some types of transactions are not part of the everyday operations. Our team can assist with these situations also. Some of these include:
While most leaders recognize the value of defining their competitive position in the market and developing a strategic plan, some may overlook the importance of effectively implementing the plan. Seeking a solution is critical to getting your business back on track. We design our solutions to complement and enhance what you previously had in place and build on what you’ve already established.
Are you starting a new business or ready to take your current business to the next level? Contact us today for a free consultation!