Each situation being unique needs to be assessed clearly and thoroughly. However, there is not a standard set of questions or surveys we have encountered that provide all or even most of the answers. More importantly, the knowledge and experience required to ask the 'next question' based upon the answer to the prior one, is critical in pointing you in the right direction. There are a number of elements that once understood will provide the knowledge necessary to move forward with positive results.
Extrapolating from other companies or prior assignments, or generalizing based upon segment data does not work. When we understand your business and its challenges, we will be of value.
Numbers don't lie - or do they? Understanding the source of your data and how it was obtained is often as important as the data itself. We understand how to unlock the information in the numbers and utilize that knowledge to develop a turnaround strategy for a distress situation or growth strategy for an environment where it is becoming more and more difficult to achieve.
Your install base of customers or clients and your sales / distribution channels provide critical clues to what may have gone wrong or what is limiting Company growth. If you have had recent customer losses or even wins, where you've added customers or expanded your relationship with existing customers or distributors, understanding why can be a key to future successes. In each case, knowing the reasons will guide actions in a more positive direction.
Details about employees and management, such as their backgrounds, capabilities, responsibilities, performance, etc., are important. However, possibly of greater import is the knowledge of what changes might have occurred recently along with understanding who made those decisions and the reasoning behind them. Knowing who your key contributors are will be important in the execution of new plans for success.
While all Company relationships are important, firms that provide your Company with goods and services play an important role in the health of the business. Knowing not only the current terms of these business relationships, but also whether there have been any recent additions or cessations can offer more than a glimpse of potential issues.
Regardless of the size of your Company, professional services provided by the financial and legal communities are essential. In many instances, the individuals assigned to your account possess a wealth of knowledge that when viewed in a different context may provide valuable insight into major issues and potential avenues for resolution.
The value, real and perceived, of the products and services your Company provides to your client base has a major impact on both top and bottom line results. Whether in a distress or slow growth situation, understanding the working condition and quality of what you are selling can lead to improvements that are noticeable in the market place as well as with your customers. Knowing recent trends and developments as well as what percentage of funds are allocated and in fact spent on product / service development will help guide your plans going forward.
It is well known that forecasting is more art than science. Sure, there are numerous tools on the market to support your efforts, but it still comes down to feet-on-the-street as well as market and customer insight that will determine how valuable forecasting can be to your business. Knowing in detail both the backlog and pipeline, and they are very different, and combining the information with an understanding of your sales force capabilities and markets will be invaluable in getting your Company on the proper path toward profitability.
In addition to fully understanding your backlog and pipeline, how you prospect, the cost of prospecting and the results of these efforts will determine much of your future success. It will also allow you to better define the areas you need to pursue to be successful.
Having a broad and in-depth understanding of each area noted above, you can now confidently and accurately define your Business and select the best path for the Company to pursue well thought out, realistic and attainable goals. Any plan, whether it is focused on a return to profitability or increased growth, must possess key elements of success addressing The Business, Customers and Employees, while insuring communication to all constituencies is clear and definitive. We'd be delighted to show you how. Contact us at your convenience.