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Our Fix Your Business program is a one-stop solution for a business that is experiencing financial challenges.
This program is designed for business owners that need practical action steps they can implement immediately to respond to creditors and other financial challenges.
The goal of this program is to build a business turnaround strategy that a business can use to return their business to profitability.
Our Fix Your Business program is everything you need to take your business from the challenges it is facing now to opportunities that you never thought were possible.
Fix Your Business course
Designed to be referred to often, our 90 minutes “Fix Your Business” course will provide you with more than 25 ways that you can get to work fixing your business. A great primer to understand the concepts our team will be helping you and your business with.
Profit margin analysis
Fixing any business begins with understanding how it makes money. We will work with you to help you understand how much profit your business should be making versus how much it is making. Your profit margin is what allows your business to pay down debt, purchase equipment and inventory as well as address the financial challenges your business may be having. Knowing what your profit margin should be will provide you with insights into where the operations of your business need to be improved.
Cash flow analysis
You need to know where the money in your business goes. It can be hard to make a plan for turning your business around if you don’t know how your business makes money and how it spends money.
Budget analysis / repair
Just because your business has been paying expenses doesn’t necessarily mean that every expense is necessary. By working backwards from your profit margin and cash flow, we will help you build a budget that is right sized for your business.
Paying off debts and dealing with other financial challenges such as the government and other creditors requires profit. In order to generate profit your business needs to be able to generate revenue. Knowing how much revenue your business requires allows you to get some insights into the sales and marketing efforts your business needs to focus on.
3-year cash flow projection
After working through the revenue targets for your business, we will help you use all of the information you have, including your profit margin and adjusted budget, to prepare a 3-year cash flow projection for your business. This will show you how much cash your business will have to work with over a 36-month period of time.
Debt repayment steps
By having a sound foundation to work from, you will be in a position to determine the best strategy for repaying your debts and building equity in your business.
Balance Sheet clean-up
What does your business own and what does it owe? As you work through the assets, liability and equity details of your business you will need some direction on how to simplify your balance sheet.
Profit and Loss clean-up
What does your business earn and what does your business spend? As you work through your budget, income and expenses you will need some direction on how to simplify your profit and loss statement.
These are the steps we follow to help you fix your business.
You will meet your business advisor, who will be your main point of contact throughout all aspects of the process. They will guide you through the work to be done and will be available to answer any questions you have.
From the information gathered on the welcome call we will prepare a list of questions that will get you thinking about your business from a different perspective. Our goal is to help you see your business in a practical way that will help you make better decisions about what needs to be done and how to do it.
For two hours each month your business advisor will use your financial statements as the baseline for your in-person workshop. You will learn and discover how your financial statements can be used to uncover opportunities and how they can provide direction on where to focus.
How does your business make money? You will discover the levers that you can push and pull to change how much money ends up on your bottom line.
Does your business spend money in a way that is getting the best result? Are your costs in alignment with your sales? This can be an eye-opening moment for many business owners that somehow know their costs are out of line but don’t know why. Now you will.
Where do your sales come from? Are they predictable? Are they stable? Is your business a market leader or a leader in a niche? We will make sure you understand how to maximize your revenue and how to position your business in the market.
Where does the money go in your business? Your business earns revenue, pays its expenses and then what happens to the rest? If your business is not profitable you are increasing your liabilities instead of your assets and equity. You will discover how money moves through your business so you can direct it to get the results you need.
While many business plans sit on the shelf a, 3-year projection is best simplest tool you can use to get a high-level understanding of how you need to lead your business and team. Projections will help you reach your goals even if they need to be adjusted.
The best way to ensure your success is to build weekly and monthly routines that you and your team can use to ensure you are on track and getting closer to your goals and objectives. We will work with you to create feedbacks loops for your business.
We will part company and wish each other well knowing full well that we will connect again soon.
Who Should Not
Generally speaking, the basic business turnaround steps include:
We’ll discuss your business, its challenges and its opportunities and help you understand the next best steps.