Professionalising the Business to take it to the next level

Situation:

Our client was the CEO of a family-owned business. The strategic objective was to professionalise the business, to set up a formal management structure in order to take the business to the ‘next level’, leading to increased efficiency, profitability and, ultimately, business growth.

Approach: 

The approach we recommended to professionalise the business was:

  • Defined Business Plan, which is central to the professionalisation process;
  • Documented roadmap – which translates the business plan into actions;
  • Sound operating plans and methods – to guide the process of interaction within the business;
  • Recruiting strong, competent management at all levels – to implement the plans;
  • Articulated performance expectations – develop clear, well-defined goals, KPIs and expectations for the management team;
  • An appropriate reward and compensation system – so management know with some certainty what types of rewards they can expect for reaching their goals;
  • Formal monthly advisory business meetings and monthly management meetings and performance reporting; andAdvisory Board assistance – to contribute significantly to the professionalism of the business by providing sound, objective advice.


Results: 

Over an 18 month period, our client transformed its business into a specialised agency delivering strategic and creative services across internal communications, customer experiences and consumer activations for blue-chip businesses across Australia.

Professionalising the business has been a key step towards ensuring the long-term sustainability of the business and reducing the amount of time the business owners to spend in running the day to day operations.