Business Strategy Development
Businesses face many challenges, but these are all made more difficult to resolve if you don't have a clear vision of where you are going and a strategy to get there:
- Making decisions without a strategy is a bit like Alice in Wonderland at the crossroads: "If you don't know where you are going, then any road will take you there"
- Performance monitoring is more difficult without the clear objectives of what needs to be achieved
- Financing without a clear understanding of working capital requirements is a shot in the dark
- Developing the next level of leaders is difficult without a view of the exit strategy and the deadlines being set
At BDC, we use a proven approach to Strategy and Planning based on the experience of 40 years of hands on business leadership and international consulting and drawing on elements of some of the best methodologies available; made practical.
Strategy Implementation and Project Management
All too often, if a strategy is developed, it is done so as a "one week wonder" and then collects dust on a shelf until the following year; pretty well a waste of effort!
We work with our clients to turn their vision and strategy into reality by developing clear and practical implementation plans focused on defined deliverables and milestone dates. As required, we roll up our sleeves to help them project manage and deliver the activities and tasks of the plan. This helps keep their focus on the few key initiatives that will have the greatest impact on the delivery of the vision while the day to day business continues.
Business Leadership and Performance Support
Virtually all businesses struggle with business and leadership performance. We see this as critical to delivering business success. The key here is to understand the few key metrics that you need to measure every day and have the Business Intelligence Systems in place to make monitoring easy. It is often these key metrics that make leadership effective, because the simple transparency of these metrics make everyone accountable; a contributor to the delivery of the vision. These metrics might include:
- Leads generated
- Conversion ratios
- Margins negotiated and delivered
- Delivered in Full On Time (DIFOT)
- Profitability per employee
Executive and Board Advice, Development and Mentoring
Running or leading a business can feel like a very lonely pursuit. BDC understands this and provides senior executives with grey hair (and some without much hair at all) who have been down these roads before. Their role is to be a coach, a mentor, an advisor and a sounding board to bring an outside perspective and experiences to the issues of the day. On occasion, we Chair Board Meetings or participate as an adviser to the Board. It is a confidential role that we feel privileged to perform, working with Australia's growing businesses.
Exit Strategy and Succession Plan Development and Implementation
If you have been in business more than five minutes, you MUST have an Exit Strategy. Otherwise you have just bought yourself a job and a millstone!
Ten years ago, succession planning was much talked about and whilst topical, no-one really did much about it: the economy was hot; retirement was off in the distance and, the baby boomers in their prime. Post GFC, things have changed, we are all ten years older, business has been pretty bloody for the last few years, retirement is looking attractive, but the super funds have taken a beating. Most baby boomer family businesses will be coming on the market in the next five to ten years and the reality is, most of them are un-sellable at the vendor's desired price.
Why? Because there is no market for a business that is totally dependent on the founders if they don't have a strong executive team in place able to carry on the business alone. Also, there is already a glut of businesses hitting the market and a few very selective buyers with the cash to commit.
Whether you are looking for a float, a trade sale, or trans-generational wealth transition, now is the critical time to get that plan figured out. You need to put in place the:
- new leadership and organisation structure
- cloning of the business principals
- legal, taxation and regulatory compliance
- three year financial records ready for valuation
- family wealth protection matters sorted and
- grooming of the business for sale or handing down in the best possible condition
BDC has a proven approach to cover the bases and can help you project manage the transition. We understand how challenging dealing with the family interpersonal matters can be and how gut-wrenching it can be to hand over the reins.