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It is not just politics which has been challenging lately.…

Following widespread due diligence, much contemplation and consideration, I decided to buy CMC Business Advisers and took over the ownership in August 2022 (1st August). As with all changes of new business ownership, there is period of handover and familiarisation – which is something I’m still working on! But the key for me is to ratify and consolidate the position of the business and look to create a solid platform for growth.

Something I help many of my clients with! So, for this reason, I thought it would be useful to share my approach with you too.

In this post I will be sharing my journey so far. Thereafter I will share regular updates and insight with useful hints and tips. Watch this space….

Creating a growth platform

In creating a solid platform for growth, there are four areas that need my focus:

1. Set out and communicate my vision and strategy for the business
2. Derive a one-to-three-year strategic plan that will take the business forward and work towards that vision
3. Ensure that the best people are in place in the business and that they understand the way forward
4. Set out the short term goals that help align the business ready for working on the longer term plan (small steps…..).

There are three key areas that I am also keen to address:

Transparency

Making sure that everyone in the business understands the finances and the metrics of the business, so that they can see and understand success.

Support

Ensuring that everyone in the business, specifically those new in the business, have the support and assistance they need to do their job and are not afraid to make mistakes.

Growth

Set out the environment and performance indicators which encourage and foster growth of the business, not only by each individual in the business, but also, across the business as a whole.

After three months at the helm, (how time flies…), we are slowly getting to a consolidated position on which we can set a foundation for growth. As with all businesses, it is important to ensure that growth is carried out in a managed way and that there is enough cash [Working Capital] in the business to ensure sustained growth. We are looking at, and measuring, the business on a monthly basis, specifically, the management accounts, the sales and the pipeline, the marketing of the business, resources, processes, and procedures ensuring that they all are aligned to the strategy.

New business ownership – So far so good

It has been great fun, and especially working with a great team, and as Zen depicted, if you enjoy your work, you’ll never work a day in your life…..I’m looking forward to providing the next update in another three months….