10-Step Business Development Process
Kelley Hardesty Smith & Company is a firm that helps you build your financial position by making your business more valuable and more profitable. To do that we've developed a specific and purposeful 10-step process to help grow your business, improve your lifestyle and increase your profits significantly. Here's how we work with you to develop the true potential of your greatest asset:
To gauge the level of results you can expect from your business, we will ask you to complete a preliminary questionnaire. Using software tools designed to identify and quantify your potential for profit improvement, we are able to tell you just how much improvement you could expect.
During this step we will present you with a summary of the improvement potential within your business. You will see the processes and approaches we use to work with our clients to begin improving the business and its return on investment. When you decide to continue with the process you receive a copy of your customized Business Development Program.
Included in your Business Development Program is a more detailed Business Development Questionnaire. This questionnaire gives you instant insights into the challenges you face and what needs to be done to improve how you handle them. We can then identify the strategic opportunities that come from the way you do business (your business processes) and provide you with a documented analysis. Together we will map a course of action toward your strategic vision.
Many business owners do not have a clear vision for the future of their business. To really achieve improvement, it is important to turn your vision into a crystal clear picture. From there you can work back to where you are today, identifying all the strategies you need to implement to achieve your goals. The Planning Session is used for this process. During your Planning Session, our team will guide you through a review of key issues and the potential solutions. Here you really start to see how the process comes together.
We have found that clients prefer to begin with "Action" plans rather than lengthy, heavily worded business plans. Although this process can help reveal a detailed business plan, it is easier to begin with the Action Plan. This results-orientated action plan is easy to relate to and simple to implement. This plan provides you with the basis for moving forward with your business development. With specific goals and target dates, you and your team have a clear direction and more likelihood of success.
To really create a successful business you need to know exactly what your customers want, and what they find frustrating. That way, you can adopt strategies and business processes that make your business the one they prefer to deal with.
Addressing your customers’ issues gives you a great opportunity to create a competitive edge for your business. Holding a Client Advisory Board, where we sit down with your customers and listen to them in a structured way, is an invaluable way to add value to your business.
The people who work for you also play a vital role in how well your business meets customers' expectations. They deal directly with the issues raised by your customers every day. Often that means they have hands-on insights that could benefit the business. A Team Advisory Board (much like a Customer Advisory Board) generates strategies that improve the processes within your business. We have protocols for working with your team to develop a customer service plan that incorporates the feedback you receive from customers and team members alike - instantly setting your business on a path much more aligned with customer expectations.
We look at each business as a collection of people performing a wide range of activities or "processes." How well these activities are completed determines the outcomes or results your business achieves. Most businesses have not truly systematized their processes creating random outcomes are business owners feeling that they lack real control. Improving business performance is about improving the key processes within your business. By analyzing the processes that comprise your business and its activities, we help you identify which ones need to be re-designed for better results.
Documenting Key Business Processes
After analyzing what processes comprise your business, we can work with you to set up a documentation system. By defining exactly how each process is to be completed, you will have greater control over the results of your business. This control leads to another critical result – increased business value. The value of your business will increase as it moves more and more towards being a turn-key system - a system that produces expected results.
Management Control Plan
Imagine having a control panel on your desk, much like the dashboard of your car, with gauges and signals that tell you instantly how your business is running. Compare that to the hectic, reactive nature of most businesses, large or small.
Your key performance indicators (KPIs) and your financial plan offer that level of control for your business just like your dashboard. Together they make up your Management Control Plan, which helps you track the progress of all key areas of your business. The plan enables you to respond quickly to changes and new situations, and thus generate optimal profits for you. It's important that we, as your business development consultants, play an ongoing role here to track key performance indicators and your financial position with sophisticated software programs.