Business is making, buying, selling or supplying goods or services for money, and our business model is our plan, people, systems and processes for harvesting our added value. Our operating model isn't our Strategic Plan; it's the systems and processes which create our business-as-usual (BAU) operating environment.
Generally, our BAU operating model has become so second nature we may not even be conscious of it until there is some form of disruption to it.
At different stages in our business lifecycle, we may find that our processes feel broken.
Broken might look like:
· Stressed staff
· Shrinking margins
· Loss of staff experience
· Expanding business
· Growing production
· Change in location
· Frustrated senior leadership team
· A desire to be a strong contender in the industry or region
When this happens, if we have the capacity we will review our systems and processes and generally will make a tweak or two. What we might not do, is invest in an outsider to come in and independently listen to our team or key members of our team.
During Covid-19 we encountered a number of businesses which practically doubled over the course of a week. Doubled because if they were in food production with online ordering they were considered an essential service, to compound this, many people were now at home and had additional time to investigate your products what appeals to their tastes.
Having the right people on your team is a key success factor. Defining how your teams work, what technology and tools they use, and what success looks like provides the pathway by which you achieve the business strategy, but also by which you can measure the growth of each team member.
Understanding your management style and the impact of that style (likewise each team's manager) can give you insight into what’s working or not working.
It is important to objectively assess your style performance and how it affects your direct reports. There are two distinct styles hands-off and hands-on.
We have seen businesses where the culture is for the employee to not think outside of the box, and the consequence is a culture of blindly following the process that they were trained on, which may be some six employees and five years later. Things change over this timeframe. Do some or all of your employees have the ability to have an impactful and positive change in your business?
Building efficiencies in or transforming?
Whether you’re developing a BAU environment, preparing to buy, sell, partnering, financing or transforming, the process can be complex and risky.
Having help navigating assists with you managing your risk and knowledge of the tax risks, providing the opportunity to manage that risk and options to mitigate risk.
The business environment is changing rapidly, the use of technology is increasing, the demand from our customers to be adapting is an added pressure, and the workforce is shrinking. Having someone to discuss your priorities helps lighten your load.
We have experience with evaluating your team processes, writing and reviewing procedures, identifying efficiencies, opportunities and risks, and recommending technology solutions or changes.
Some of the areas we have been asked to help on include:
Identifying technology solutions
Implementing technology solutions
Best practice reviews
Business health checks
How Business Studio Innovators can help you?
Business Studio has developed a new approach to the traditional accounting service model.
We bring together technology, growth advisory, and valuation concepts. Creating an environment where you can tap into an advisor who can talk about your stage in business, your aspirations, and how to deal with the challenges that result from such changes. We provide insights and experience as to how technology and process efficiency are key factors in driving successful outcomes.
Business Studio provides a platform and service for you to embrace the sometimes uncomfortable and unpredictable journey of growing, transforming, and maturing in a supportive environment.