Business Review and Assessment Take a look at your start up or existing business at an overall and detailed level. Define what changes can be made to increase levels of excellence. Make a plan then implement the improvements immediately and as can be achieved. Approach the assessment from the stand point of whether the business is in a start up, expansion or downsizing status. Tools to be created could include a business plan, job descriptions, and an employee handbook. Reviews could include the accounting system or the web site for example.
Key Benefits
Utilize a peer to review the current status of your existing business or startup and quickly implement a set of resulting action steps
Have the information you need to make the best decisions
Decrease the amount of time spent dealing with recurring problems and more time on strategic thinking and development of the business. Create tools that can make the difference with having employees understand what is expected of them, including job descriptions, an employee handbook and performance review schedules.
Spend targeted time to do a review and save time later by having a better understanding of your overall business
Reed's Knowledge, Experience and Capabilities
Reed has spent many years assisting business owners with start up, expansion, downsizing and closing related consultation services.
Analysis of Existing Situation
Initial review of business. Reed works with you to create a current outline of your needs then steps in to conduct further review.
This can include one or more of the following:
on site visit to your location;
interviews of employees, vendors, partners;
facilitation of meetings on your behalf with employees or vendors;
review of existing business plans and other related materials; such as job descriptions for all employees including yourself, and employee handbook with tools created (jd's and handbook) that do not exist if needed at current stage of business
review of existing operations i.e. employees, business processes, accounting, computing, facilities
Development of Strategy to increase excellence
Reed will continue to work with you to utilize the results of the assessment phase to create a plan that will result in achieving your goals. Depending on the situation, this may involve first stabilizing the business through creating tools and systems then moving forward.
Ongoing Assessment and adjustments
As change occurs within a business, it is imperative to have a "continuous improvement" mode of thinking. This will lead to smoother transitions because everyone is involved with helping the business to succeed. Reed provides assistance with coaching and facilitation services.
Stages of Business Life Cycle
Business Start-Up
Receive assistance with review or initial preparation of your business plan. Reed can also help with infrastructure decisions such as accounting, computing, facilities, staffing strategies and other start up tasks.
Business Expansion
When a service or product starts to sell at higher volumes, those involved have a dramatic increase in transactions and resulting volume of to do's. The key to any increase in sales is to properly and thoughtfully expand the operations to meet the demand for products or services. Reed can help you to do an assessment on how to best expand the operations, including how to make them either more or less permanent.
Business Downsizing
Sometimes the economy can impact whether a business succeeds. Sometimes the owner is ready to retire or the business is sold. In the case of the economy, the business may need to be temporarily downsized in order to survive the decreased sales then expanded again once the sales increase. Proper preparation for this part of strategically managing your business can be one of the major keys to your success. Reed has many years of experience in this area.
Business Sale
At any point, you may decide to sell your business or you may be approached by a buyer. The value of your business includes the basics, good will, existing accounts receivable, vendor lists, accounting systems, value of existing lease(s), equipment and potential going forward. The more internal structure you have in place, the easier it is to prepare a business for sale. You may not want to show a profit for tax purposes but you must show a profit for at least a year or more depending on type of industry to obtain the highest price for your business. Teri has experience and knowledge on how to help you get your business ready to sell and to improve existing operations along the way.
Business Strategy and Management Tools
Business Plan Development is an interactive process with Reed guiding the business owner through either review of the existing plan or development of a new one. The business plan is a flexible document that changes as the business changes so it is stored either on the owner's computer system or on the company web site as appropriate. It should be visible and used as a tool.
Job Descriptions are a critical element of achieving excellence from employees with regard to productivity and morale. Often when businesses start, the small group knows what to do but as the company grows, roles become more specialized and therefore potentially fragmented. Reed will work with you and your employees to produce flexible job descriptions. When employees know what is expected of them, they do better. You can also then use the job description as the basis for an annual performance review. This helps to provide tangible feedback and to help both the employee and the company grow.
An Employee Handbook is needed once the company reaches 10 or more employees. Again, during start up, the main goal is to survive but once the company starts to grow and employees are added, the owner must decide to "put it into writing" to outline the overall policies of the company. This includes simple things like what time work begins to an overview of existing benefits to workplace environment policies. An employee handbook can save an owner much time and potential liability because the policies are in writing and we go through a process of insuring the handbook is read by every employee.