Managing a small to medium-sized business in today’s environment can be challenging to say the least.  Many business owners are juggling multiple tasks often operating in leaner environments than they’ve been accustomed to.  Obviously, entrepreneurs have a goal of maximizing profits while keeping costs under control, but what is the best way to go about it?  For some, the dice rolls and they hit the jackpot, while others go another suggested course and achieve only marginal results.

As an entrepreneur how do you increase your chances of hitting your business goals quicker and more efficiently? You consider hiring a business consultant…someone to work with you on a weekly basis to help keep you on track and focused while growing your business.  In short, he or she will work with you to put four main areas under a microscope to measure and track results to ensure you’re moving closer to your goals. They are:  People, Strategy, Execution and Cash.

People

A consultant will work with you to ensure you have the correct people in their positions within your company.  A consultant is well aware that People challenges impact your happiness and can either be a source of energy or an emotional drain.  Keep in mind that People issues can include conflicts with a partner or a key employee who is disrupting the rest of the organization’s effectiveness as a whole.

Strategy

A consultant will evaluate with you your business strategy…if production is not growing as quickly as you’d like, then it might be time to re-examine that strategy including both internal and external marketing.  A consultant will provide steps for you and he to take to evaluate where you are.

Execution

Execution challenges surface when your increasing production is not generating increasing collections and profit.  A consultant can work with you to both establish and measure your Key Performance Indicators (KPIs). In essence, you cannot manage what you do not measure.

Cash

Cash is the “oxygen” that runs the business.  The first law of entrepreneurial gravity is “Growth Sucks Cash”.  A consultant will work with you to calculate your Cash Conversion Cycle (CCC) which measures company-wide how long it takes between when you spend a dollar (marketing, equipment, rent, wages, etc.) until you get that dollar back.    The Kurzen Group has a tool which outlines the cash cycle and helps you create concrete ways to double operating cash-flow in the next 12 months.

Your Decision

Now it’s time to choose, which of the four decision areas will be your primary focus?  Through a business evaluation (provided free of charge) we can help you get these four steps right, take advantage of the current economy and grab market share and shore up your market dominance.

Click here for your free business evaluation.