Most SME business owners would agree that acting in a proactive manner in their decision making:
1.        Improves control of the business
2.        Increases the prospect of achieving business goals
3.        Affords the opportunity of assessing and  taking advantage of unplanned openings
4.        Reduces the risk of the business suffering a CASH FLOW crisis.

With such held belief why do so many SME businesses struggle and then fail?

Often it is a failure to take action – ‘to walk the talk’.

The cause of failure may be inactivity, however, the reasons for such inactivity may be many fold in the mind of the business owner.  Unfortunately the responsibility for a company’s financial performance and its corporate conduct rests with the Board of Directors, and as such cannot be delegated or excused.

On many occasions business owners and directors base their decision making process on incomplete, inadequate, out of date or totally wrong data and consequently the decline in business fortunes starts.

Often such businesses ‘creep’ towards failure.  One poor decision is compounded by the next and although some ‘pain’ may be suffered, it may be insufficient to be considered terminal.

However, the cumulative impact of several poor decisions will eventual reach catastrophic proportions and will usually be experienced in a CASH CRISIS.

As a business owner if the above scenario is familiar avoid the ultimate failure in your business – take action today.

What action may be taken?

Undertake a strategic business review of your business.
1.        Seek expert help if the skill set is not available within your business to undertake a Strategic and Financial Review of the business and include:
   a.        Fully understanding the present position
   b.        Re-visiting business and personal goals
   c.        Developing strategy to achieve the goals
   d.        Systems and procedures
   e.        Financial controls and governance
   f.         SWOT
   g.        Management
   h.        Staff and key skills
2.        Implement the strategy
3.        Develop Key performance indicators
4.        Revisit and update strategy as necessary
5.        Retain the expertise within the business to ensure:
   a.        Continuity of good practices
   b.        Pro active approach to decision making
   c.        Success

 If your business is becoming out of control, a Strategic Business Review will help to identify the causes of concern and set out a planned approach to remedy the situation.  Contact David Willetts for your FREE no obligation discussion on your requirements.