We won’t be surprising anyone when we say that a business is shaped by its founder. Their ideas, values, and dreams are the sparks that got the business up and running. However, whilst this energy is great, many people head into business with a lack of knowledge about business fundamentals, like profit & loss, cash flow analysis & forecasts, balance sheets, and more.
Don’t get us wrong, ideas are all well and good, but business knowledge is essential for helping a business to thrive and scale up. These gaps are where we come in, helping you to ensure that you move your business forward on solid foundations with the right structure, processes, and planning in place.
Why is structure, process, and planning so important in business?
The true power of structure, process, and planning lies in their synergy. A well-structured business provides the framework for efficient processes to thrive within. These streamlined processes, in turn, allow the execution of carefully planned strategies – as well as making it easy to spot where your business may be lacking and what you can do about it. It’s a harmonious cycle where each element is important within itself whilst also reinforcing and supporting the others.
The role of Oakwood: Complementing entrepreneurial vision
At Oakwood, we take on the role as your business managers. We seamlessly complement business owners and entrepreneurs, bridging the issue of skill gaps and lack of processes. As a business manager, we focus on helping you to create structure, processes, and planning, that’s specifically tailored to you and your business goals.
This becomes particularly important when a company grows to around 15-20 employees and reaches a revenue milestone of about £1 million. It’s at this juncture that business owners realise they can’t do it all. But don’t panic, this realisation is not a limitation; it’s an opportunity. An opportunity to bring in experts like us who understand the nuances of business including financial control, reporting & analytics, operational efficiency, sales qualification, pipeline management, and the art of saying ‘no’ to the wrong kind of business.
We’re here to help you get everything ‘out of your heads’ and implemented within your business to make sure that you have everything in place for the next stage of your business journey.
Navigating your business finances
Handling business finances can be complicated and overwhelming – and that’s before you even get to optimising your finances for growth. The financial aspects of a business are complex, entailing control, strategic reporting, and interpreting the numbers to drive increased profits and better cash flow. Without business experience, this can be very hard to manage, leaving you open to costly mistakes.
We believe there are 3 key elements to the financial side:
- Get control
- Consider how you report key metrics
- See what the numbers are telling you, specifically those that drive an increase in profit and better cash flow.
This is where we can step in and support you.
We delve deep into your finances, not only providing clarity but also analysing them with a view to better growth. Worryingly, many businesses aren’t reviewing their accounts or checking their cash flow regularly enough, and therefore aren’t aware of money that’s coming in and out of their business. Too often we see scribbled reporting and planning because a business lacks the proper processes in place for accurate reporting that they can then action. We can change this, helping you to create a solid structure that your processes and planning can then thrive in.
The core elements of business transition
The transition from being an owner-operator to a thriving business involves more than just finances. There are three core elements that form the bedrock of this transition:
- Project planning
- Activity coordination
- Reporting
Many businesses falter at these stages, relying on haphazard planning methods and insufficient structure, particularly when it comes to hiring and letting go of responsibilities. While hands-on management is understandable with many businesses starting as a one-man band operation, it can lead to inefficiencies. The larger a business grows, the more people it needs to sustain it and things can no longer get done by conversations alone.
A business owner can’t be everywhere and do everything, so ensuring you set up processes and hire the right people is vital. We help you implement processes with your staff, for example, sales under £5,000 you don’t need to be involved in, but anything over that amount has to come through you. This frees up your time as the business owner to focus on other aspects of your business that require your attention but continues to keep you in the loop about important sales. We’re sure you can think of other examples where you get drawn into issues that shouldn’t need your attention.
We can also help by providing expert guidance on marketing, sales pipelines, recruitment and training, and strategic operational planning.
Imagine having a team of seasoned professionals standing shoulder to shoulder with you, guiding you through every twist and turn of business expansion – that’s us!
Ready to take your business to the next level? Fill out the form on our website to book an appointment or let’s talk on 01789 867686.
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