Aspire Management Services

Aspire Management ServicesAspire Management ServicesCreating Sustainable Wealth for Business Owners throughout ScotlandCreating Sustainable Wealth for Business Owners throughout Scotlandt: 0800 055 6343 e: [email protected] w: www.aspiremanagement.co.uk

Whistler’s Dell, Clarinish, Rhu, Glasgow G84 8NH

Understanding How Business CoachingUnderstanding How Business CoachingWill Grow You – And Your Business …Will Grow You – And Your Business …

Opportunity

OpportunityOpportunity

NEW Opportunity

NEW OpportunityNEW Opportunity

NEW Opportunity

NEW Opportunity

NEW Opportunity

The benefits of Business Coaching can be Truly Enormous – pushing your Knowledge and Experience – and RESULTS - to New Heights …

Current Current LimitLimit of Knowledge & Experience of Knowledge & Experience

New LimitNew Limit

New LimitNew Limit

New LimitNew Limit

NEW Opportunity



Understanding Business Direction …

SUCCESSFUL BUSINESS DIRECTIONSUCCESSFUL BUSINESS DIRECTION

Operating Plan

Annual Budget

100 Years "Guiding Star"

10 Years - SMART Goals

1 Year - Quarterly Reviews

1 Year - Monthly Reviews

VISION

Team Meetings, Staff Team Meetings, Staff Targets & Personal Targets & Personal

DevelopmentDevelopment

MISSION

Step 1

Step 2

Step 3

Steps 4&5



Understanding Your Performance Gap ...Understanding Your Performance Gap ...

100%

90%

80% GAP = "INTERFERENCE"

70%

60%

50%

40%

30% BUSINESS PERFORMANCE

20%

10%

0%

So, where would YOU pitch YOUR Business' Performance? HONESTLY?

If your performance is 65%, then your gap is 35%What is holding you back? What - or who - is INTERFERING with your Growth?What are you DOING about it?

YOUR BUSINESS POTENTIAL

FEAR?FEAR?

Marketing?

Marketing?

Confidence?

Confidence?

Team?Team?Time?

Time? Blame?Blame?

Cash Flow?

Cash Flow?

Sales?Sales?

Skills?Skills?

Beliefs?

Beliefs?



Understanding your Stock Turn …

Control of stock in business (where relevant) is extremely important in managing your cash flow

1 Information Required To do this you need a detailed trading account that shows:2008 2007

£ £ £ £

Sales 800,000 750,000

Opening Stock 200,000 200,000 Purchases 550,000 575,000 Closing Stock (150,000) (200,000)

Cost of Sales (600,000) (575,000)

Gross Profit 200,000 175,000

GP% 25.0% 23.3%

2 Stock Turn = Closing Stock / Cost of Sales x 12(months)

In this example 150,000 200,000

600,000 575,000

So, Closing stock at the end of 2008 represented 3 months and 4.2 months the previous year.

3 Savings

For businesses who carry inventory, it is extremely important to focus on reducing your stock turn to optimise your cash flow..If for example 6 weeks stock would be sufficient on average then the stock needed at the year end on this basis would be:

6 6

52 52

Saving = 150,000 - 69,231 = £ 80,769

So cash flow would improve by nearly £81k, generating annual interest of around £2.4k, or saving around £3k

on overdraft interest, and making a substantial improvement to your cash flow.

X600,000 = £ 69,231Cost of

SalesX or

X 12 = 3.00 X 12 = 4.2



Understanding How to Improve Your Debt Collection …

Here’s a simple routine that has helped many of our clients …

1. Call One Week Before Statement is due for Payment

a. Hi it’s xxxxx at ABC Ltd. Could I speak to i.e.…. Linda [purchase ledger] please?

b. I’m just phoning regarding your statement and making sure that you have all the invoices and credits required for this month’s payment that is due here on the 28th of this month. I’m also calling to make sure that there are no queries that I can help you with.

2. If they haven’t looked at the statement yet say: That’s no problem if you could

a look at it this morning and I’ll give you a call back this afternoon.

3. If there are no problems, say: That’s great will receive your cheque by the 28th for £xxxx.

4. The Excuses … a. “However we might not be able to get a cheque signed.” b. Well could you not prepare and get the cheque signed as it is not due for

another week.

5. If there is a problem, say: Ok if you could just give me a note of that and I’ll have a look at that for you and get it sorted today. Then I’ll give you a call back tomorrow and make sure that everything is now ok for payment on the 28th.



Understanding WhyCustomers Leave ...

• 1% - Death

• 3% - Move Away

• 5% - Buy from a Friend

• 9% - Sold by a Competitor

• 14% - Product/Price

• 68% - Perceived Indifference – they think you don’t care

What are you DOING to SHOW your customers that you CARE?



No Written or Verbal Goals or PlanNo Written or Verbal Goals or Plan

Verbal GoalsVerbal Goals

WrittenWrittenGoalsGoals

Understanding the power of planning, Understanding the power of planning, and having written goals …and having written goals …

Only 3% of people have written goals and plans, these people Only 3% of people have written goals and plans, these people account for 98% of the wealth. account for 98% of the wealth. (Study time frame 25 years)(Study time frame 25 years)

3%3%

27%27%

70%70%

98% 98% of Wealthof Wealth% of % of

PopulationPopulation



Understanding The Keys to a Winning Team …1. Providing Strong Leadership

2. Sharing a Common Goal

3. Having a Shared Culture

4. Sharing an Action Plan that holds

Team Members Accountable

5. Getting the Team Empowered and

Allowing them to Take Risks. No

Blame.

6. Ensuring Everyone is Involved and

That Everyone Participates

Documents

Aspire Management Services