How we deliver practical advice that works


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Being a Managing Director or Owner of a small to medium business is one of the toughest and loneliest positions in business. Unlike large organisations and corporations, SME’s generally lack the resources to build a management team of professionals experienced across a range of business critical disciplines. In fact, the burden of maintaining and growing a successful independent business is generally limited to Managing Director/Owners/Partners and sometimes this falls on just one person.

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How we deliver practical advice that works

  1. 1. ‘ How we deliver ‘ practical advice that works’ East Coast Consulting
  2. 2. An Introduction to East Coast Consulting <ul><li>Over 95% of private sector businesses are SME’s - employing two thirds of the workforce </li></ul><ul><li>Most SME businesses suffer from limited financial resources </li></ul><ul><li>and </li></ul><ul><li>… in many cases weak business management and marketing skills </li></ul>
  3. 3. An Introduction to East Coast Consulting <ul><li>Unlike large organisations and corporations, SME’s generally lack the resources (62% employ less than 20 people) to build a management team of professionals experienced across a range of business critical disciplines. </li></ul><ul><li>In fact, the burden of maintaining and growing a successful independent business is generally limited to Managing Director/Owners/Partners. </li></ul>
  4. 4. An Introduction to East Coast Consulting <ul><li>Sometimes this falls on just one person. </li></ul><ul><li>With so much to do and with limited resources, many feel frustrated at the ever-increasing demands being placed upon them. </li></ul>
  5. 5. Worrying Statistics <ul><li>85% of all businesses employing less than 60 people don’t know where to go for advice </li></ul><ul><li>Less than 35% of all businesses see any need for marketing </li></ul><ul><li>Less than 20% of businesses employing less than 30 people have a CEO/Managing Director with any previous experience in running a business! </li></ul>
  6. 6. Worrying Statistics <ul><li>27% of all companies employing more than 5 sales people have no formal, or ongoing sales training </li></ul><ul><li>74% of all businesses feel they are under-capitalised </li></ul><ul><li>More than 60% of businesses do not succeed because of poor financial practices </li></ul>
  7. 7. Worrying Statistics <ul><li>Up to 25% of all business </li></ul><ul><li>start-ups </li></ul><ul><li>fail in their first </li></ul><ul><li>12 months! </li></ul><ul><li>Over 50% are gone within </li></ul><ul><li>5 years </li></ul>
  8. 8. Typical SME problems - 1 <ul><li>Most Managing Directors/Owners work too hard & receive too little reward. </li></ul><ul><li>For most, the business consumes, rather than serves their lives. </li></ul><ul><li>Absence of a personal life plan that purposefully guides their daily actions. </li></ul><ul><li>Not grasped that they can & should create a business that works without them. </li></ul><ul><li>Most Managing Directors/Owners wear too many hats & have no plan to free themselves from the technical work of the business. </li></ul>
  9. 9. Typical SME problems - 2 <ul><li>Nearly all are organised around existing people rather than business processes = inconsistent performance & havoc when key players leave. </li></ul><ul><li>Unable to depend upon employees, many SME owners feel trapped in business. </li></ul><ul><li>Confused reporting lines = overlap & lack of clarity! </li></ul>
  10. 10. Typical SME problems - 3 <ul><li>No examination of impact entire business process has on their customers. </li></ul><ul><li>Market & sell by ‘seat of pants’ rather than apply proven marketing & selling strategies. </li></ul><ul><li>Failure to appreciate that in the best business, systems run the business & ordinary people run the systems. </li></ul>
  11. 11. Typical SME problems - 4 <ul><ul><li>65% of all SME’s feel they have a poor relationship with their financial backers </li></ul></ul><ul><ul><li>Issues with access to funds </li></ul></ul><ul><ul><li>Many need funding to expand </li></ul></ul><ul><ul><li>Funding required typically $1-4million </li></ul></ul>
  12. 12. Typical SME problems - 5 <ul><li>Many do not have a strategy - and only get to where they are by chance! </li></ul><ul><li>---------------------------------------- </li></ul><ul><li>Bad news is that it’s a long list of problems & unfortunately far from complete……. </li></ul><ul><li>Good news is that every point DOES have a solution! </li></ul>
  13. 13. Managing Directors/Owners of SME’s <ul><li>Have usually put up the money! </li></ul><ul><li>Dynamic, entrepreneurial </li></ul><ul><li>Strong in their own areas </li></ul><ul><li>but </li></ul><ul><li>Often lack broad business experience </li></ul><ul><li>Usually lack formal business training </li></ul><ul><li>Have no specialist board of directors </li></ul>
  14. 14. They don’t know what they don’t know!
  15. 15. Why is this relevant? <ul><li>Managing Director/Owner only sees symptoms of the problems </li></ul><ul><li>Has no time or possibly lacks skills to find solutions to specific business problems </li></ul><ul><li>This can seriously damage the business </li></ul><ul><li>Associates facilitate change AND make the client more secure and profitable </li></ul>
  16. 16. Being a Managing Director/Owner <ul><li>Is one of the toughest & loneliest positions in business </li></ul>
  17. 17. Solution <ul><li>The Business Support Programme via East Coast Consulting </li></ul><ul><li>A tailored co-ordinated program delivered by specialists. </li></ul><ul><li>Access to an ongoing single source of help, guidance, mentoring & advice </li></ul>
  18. 18. Business Support Program <ul><li>All businesses could benefit from help, better wanted rather than needed </li></ul><ul><li>Advantages/disadvantages of type of help available </li></ul><ul><li>Variety of sources, some limited in their role </li></ul><ul><li>Innovative, alternative solution </li></ul>
  19. 19. Business Support Program <ul><li>Each Executive within Your Virtual Board, gives some time every month to businesses, to: </li></ul><ul><li>Discuss concerns, problems, opportunities </li></ul><ul><li>Deal with specific business requirements </li></ul><ul><li>Discuss future plans </li></ul>
  20. 20. The Comprehensive Audit <ul><li>Ground Covered: </li></ul><ul><li>Accounts, Asset protection, Auditing, Awards, </li></ul><ul><li>Banking (overdrafts, overcharges), Brochures, Business Plans, Cash Flow mgmt. </li></ul><ul><li>Computers (systems/purchasing/software), NOHSC, Cost reduction, Credit Control – systems/procedures/debtor improvement. </li></ul><ul><li>Databases, Employment law, Exhibitions, Exit route for owners, Exporting, </li></ul><ul><li>Factoring, Franchising, Funding, Grants, Occupational Health & Safety </li></ul><ul><li>Human Resources, Import, Incentives, Insurance, Internet, ISO 9000, </li></ul><ul><li>ISO 14000, Leasing/purchasing, least cost routing, loans/mortgages, management development, marketing, </li></ul><ul><li>Offshore, Overcharges, PAT/FAT, Payroll, Production, Procurement, profit/loss, </li></ul><ul><li>Rent/rate reviews, R &D - new products, Sales – new & repeat, Selling the business </li></ul><ul><li>Skills audit, Tax & Accounting Services, Telephony, Training/Coaching, </li></ul><ul><li>Venture Capital / Business Angels </li></ul><ul><li>Websites </li></ul><ul><li>Vision - Where did you hope to be? </li></ul><ul><ul><ul><li>Vision - Where are you now? </li></ul></ul></ul><ul><li>Vision - Where are you going? </li></ul><ul><ul><ul><ul><ul><li>Vision - How are you going to get there? </li></ul></ul></ul></ul></ul>
  21. 21. The Comprehensive Business Review <ul><li>One Single Objective: </li></ul>Would have the most positive impact upon EITHER the Business , the Managing Director/Owner or both To unearth those things that IF CHANGED
  22. 22. Typical Areas of Need <ul><li>Planning & Strategy </li></ul><ul><li>Profitability </li></ul><ul><li>Sales & Marketing </li></ul><ul><li>Quality </li></ul><ul><li>Import / Export </li></ul><ul><li>Systems & Processes </li></ul><ul><li>Occupational Health & Safety </li></ul><ul><li>IT/ E-commerce </li></ul><ul><li>Human Resources </li></ul><ul><li>Compliance </li></ul><ul><li>Cash Flow </li></ul><ul><li>Training/development </li></ul>can affect any area of the business!
  23. 23. Filling the Management Gap <ul><li>Business analysis and support complimenting skills in place </li></ul><ul><li>Mentoring </li></ul><ul><li>Practical advice </li></ul><ul><li>Hotline access </li></ul><ul><li>Project design and implementation </li></ul><ul><li>Someone to turn to………… </li></ul><ul><li>Your Virtual Board </li></ul>
  24. 24. Business Support Program <ul><li>Enables Managing Director/Owner to access the combined business experience of accredited senior business professionals </li></ul><ul><li>Most have sat in CEO/Owners chair - they know how lonely it can be and will understand the issues they face </li></ul><ul><li>Networked in to Managing Director/Owners in thousands of businesses worldwide. </li></ul><ul><li>It can be what Managing Director/Owners wants it to be, long term support or project based </li></ul><ul><li>Managing Director/Owner retains control of the business </li></ul><ul><li>Proven - “ practical advice that works” </li></ul><ul><li>Independent, Impartial - No baggage or office politics </li></ul>
  25. 25. <ul><li>In effect – the Managing Director/Owner </li></ul><ul><li>has at his disposal </li></ul><ul><li>his own Non Executive </li></ul><ul><li>Board of Directors </li></ul>Business Support Program
  26. 26. Business Support Program <ul><li>Associates understand that it is the Managing Director/Owners business and will work alongside them to devise and implement the solution(s) </li></ul><ul><li>Available when and for as long as they need them </li></ul>
  27. 27. Business Support Program <ul><li>Leads to improved performance </li></ul><ul><li>and in the best cases </li></ul><ul><li>world class businesses!! </li></ul>
  28. 28. Business Support Program <ul><li>Thoughts / Questions ?? </li></ul>
  29. 29. Harry Goldstein <ul><li>Who can be reached at: </li></ul><ul><li>East Coast Consulting Pty Ltd </li></ul><ul><li>Phone: 1300 835 667 </li></ul><ul><li>Phone: + 61 2 4945 2285 </li></ul><ul><li>Fax: + 61 2 4945 4228 </li></ul><ul><li>Email: [email_address] </li></ul><ul><li>Web: </li></ul>Accredited Associate of the Institute for Independent Business