Articles

In our ongoing series introducing the faces behind CMC Business Advisers, we’re delighted to spotlight Derek Allen, one of the company’s original founders. With decades of experience, in this interview-style article Derek offers invaluable insights into his role and the services he provides to clients. 

Q: How do you work with your clients? What does it entail? 

A: I typically meet with clients once a month, along with the Senior Team, to discuss a range of business topics. We cover everything from profit and loss, cash flow, sales, marketing, people management, processes, compliance, and other relevant matters. Each client has their own unique needs, so our meetings are tailored to fit their specific stage of business. The best time for these meetings is when the full set of monthly management accounts are available. 

The ‘Senior Team,’ typically made up of owners, directors, and senior managers, are the key decision-makers in the company. Our meetings, which usually last a couple of hours, ensure that everyone stays aligned and knows their responsibilities. These sessions also offer a valuable opportunity to discuss succession planning by involving younger managers and mentoring them on business issues and strategic decision-making. To keep us on track for the next meeting, I always take notes and create action points. 

Given the increasing compliance requirements for company directors, it’s essential to formally record issues such as health and safety incidents, anti-bribery and corruption, anti-slavery, data breaches, and IT security breaches. 

Q: What do you enjoy most about your role as an adviser? 

A: After several months of working closely with the key decision makers, I often become a ‘Trusted Advisor’, something which I find is very gratifying. To me this means my clients really value my advice and experience as they know I can contribute to a decision with an honest, objective opinion. To maintain this trust, it’s essential I understand their business goals and how they make decisions. I have to stay above the politics and emotions and help them make the best decisions even if they are difficult ones. 

Q: What projects are the most rewarding for you and why? 

A: The most rewarding projects are those that lead to a company sale. Many companies I work with initially have little or no value to outside investors because they are ‘lifestyle companies’ providing an income to the owners. The transition to becoming ‘investment ready’ is crucial. Having worked with a company for many years and witnessing the owners receive their just reward for their risk and effort is incredibly satisfying. 

Q: How do you see the role evolving to ensure you continue to deliver the best service going forward? 

A: An evolving role is integral to the CMC process. With a team of CMC Business Advisers, we regularly discuss client experiences and emerging issues at our monthly meetings.  

Currently, I am working with one client to understand how Artificial Intelligence is impacting their sector and how they can adapt. With another client, we are addressing IT security, focusing on how to safeguard businesses and train engineers to deliver these services. For a third client, we are navigating environmental legislation that is affecting their market access and could add significant costs to their operations. These scenarios, among others, are shared and analysed with the team to continually expand our knowledge and expertise.  

This evolving role is at the heart of being a CMC Business Adviser and a Trusted Advisor. The ‘proof is in the pudding’ having been with a number of clients for nearly 20 years!

If you would like to reach out with any questions for Derek, do contact him via LinkedIn or the form below.