It's time to...

It’s time to finalize your numbers.

Numbers are not only about financial statements; they also include very essential factors to ensure business success. Examples include:

• Assessing the team’s productivity
• Evaluating the quality of relationships and communication between the management and the staff, the clients and the suppliers
•  Reviewing the strengths of the business model and structure
•  Validating results compared to the initial budget and the owners’ vision
•  Analysis on different strategic factors such as:

1. Customer feedback and complaints
2. SWOT; strengths, weaknesses, opportunities and threats\
3. PESTEL; political, economic, social, technological, environmental and legal factors affecting the business positively or negatively
4. Market trends and how you can adapt your business and stay on top of your industry
5. Direct and indirect competition and how to differentiate your business accordingly

• Financial analysis beyond how much profit you made:

1. Gross profit per product/service
2. Identify top sales people
3. Identify top clients
4. Identify bad customers and start eliminating them
5. Financial ratios that could spot your liquidity, profitability and return on investment
6. Check if you need additional funding to protect your cash flow against bad times
7. Review your pricing model

The biggest question remains the following: would a business strategist be helpful in guiding the above steps and support you bring more desired results at all corporate levels?

Planning is not a luxury; you must write a healthy business plan and structure easy to measure key performance indicators to keep tracking performance and improvements on a regular basis.

It's time to expand!

Jade w. Dagher
Your helping hand to expand
expand-mena.com