CFO How to Run a Growth Planning
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How to Run a Growth Planning Session for your Business If you want to grow your business it pays dividends to do it in an organized way Growth without planning has seen the downfall of many a good business The best way to start planning is do a SWOT Analysis Strengths Weaknesses Opportunities and Threats It s a great opportunity to get your team together and have a brainstorming session Use this map and the following questions in your SWOT Copyright 2017 CFO On Call by CAD Partners Pty Ltd 2
Your objective is to determine Strengths what are they and how can you leverage on them and make them visible to the market Weaknesses what are they and how can you improve them and create a culture of constant improvement Opportunities consider what they are and how you can realistically take advantage of them Threats consider what they are their impact in the long and short term and how you can mitigate them Here are some questions to kick off with that we will list under the five key areas of business Product Service Is yours a product service of today and tomorrow or yesterday i e are there threats to your business such as government legislation changes or Digital Disruption Who are your competitors and how are they changing Does your product service provide a solution to a problem that has limited lifespan Is it a luxury item that is affected by consumer confidence in a particular market Is it a necessity item or grudge purchase Are there opportunities for your team to have input into product service development Are there opportunities for to offer new products services using your current resources e g people know how equipment real estate etc Copyright 2017 CFO On Call by CAD Partners Pty Ltd 3
Marketing and Sales Does your team understand the business Vision Mission and Customer Proposition What is your market position e g cheap and cheerful or best quality with appropriate price tag Who where is the market for your product service Where do they hang out e g physical places or online What is the most cost effective way of engaging with customers Do you have an opportunity to sell other items to existing customers Do you have opportunities to open in new markets regions Do you know how to engage with customers and how to explain your value proposition Do you know what is your Unique Selling Proposition and how to differentiate yourself from competitors e g do you make the invisible visible How much competition do you have and how does that affect your sales price Can you leverage off existing customers to get more like them e g testimonials referrals Do you have a formal sales process and is it understood by those in sales Does your sales team meet and share ideas Do you measure effectiveness of marketing methods and return on investment of marketing spend Do you measure sales conversion rates by salesperson lead source etc Copyright 2017 CFO On Call by CAD Partners Pty Ltd 4
Operations and Finance Do you have well defined operating procedures that are transparent to all staff To eliminate risk of employee absence departure impact on operations Are your systems well documented and backed up to avoid loss and business interruption in the event of a disaster Could cloud commerce help you to achieve cost savings and efficiencies Are avenues in place for staff to offer input into improvements E g suggestions box team meetings Do you have a budget and cash flow projection Do you know your break evensales figure Do you regularly and accurately report on gross profit And Overall By product service category type By customer customer type By region division branch Do you regularly and accurately report on net profit Could you achieve better prices from suppliers Is your business able to meet its short term financial commitments Do you analyse your business financial performance regularly and take appropriate action Are you accessing the best finance options Do you measure and report on Key Performance Indicators KPIs for all areas of business performance Copyright 2017 CFO On Call by CAD Partners Pty Ltd 5
Do you have a Quality Assurance system Are your tax superannuation and ASIC obligations up to date Is there government assistance you could take advantage of e g Grants Is your corporate structure set up right e g should you consider setting up a company partnership trust Are your business premises secure e g do you have a current lease in place Human Resources Do you have an Organisational Chart setting out all major tasks within the organization and who is responsible for them Does your team have a properly documented Job Description covering all the tasks in your Organisational Chart Do you have a system for effectively hiring managing and firing team members Do you have a compliant WH S management system and are you aware of the penalties for non compliance Customer Service Do you measure customer satisfaction Do you have an effective Customer Relationship Management system in place Do you categorise your customers e g A B and C and focus attention on the A s and upgrade or move on B s and C s And lastly Prioritise your actions based on your answers in line with return on investment of projects and your capacity to implement them Copyright 2017 CFO On Call by CAD Partners Pty Ltd 6
