How We Can Help Protect Your Business
Step up your game. Stop relying on a single income from a single client.
What would happen if
there was no you?
Our experience is that typically business owners don’t consider who would run their business if they weren’t around.
We worked with a client recently who had been diagnosed with an illness and needed to take some time out to have an operation and recover. By engaging with us we were able to look at how the business operated day to day to establish simple steps that we could put in place to keep things running.
Luckily, having approached us just in time, we were able to help her keep the plates spinning whilst she was away from the business.
A risky business!
We looked at business risks with a client and identified that they had unknowingly left themselves in a vulnerable situation.
There was a previous owner for the business, however they were no longer associated with the company. Whilst conducting a risk assessment, we discovered the previous owner was still named on the business current bank account. And more worryingly, as the sole name.
The new owner had never considered that the previous business owner could have withdrawn all funds from the current account. And more so, legally, there would be nothing that the new owner could do about it.
As a result, we initiated that the bank account be changed immediately!
Disaster, your one big client terminates their agreement!
We recently worked with a tech company to identify potential risks to his business and a plan to mitigate the risks. Our personal experience is that business risks are one of the most overlooked areas for any growing business.
We very quickly identified that 90% of the income for this business came from one client which does tend to happen frequently. In addition, the contract for this client was due to expire in 12 months’ time and our client wasn’t sure that they wanted to continue working with them.
As a result we initiated a plan which included reviewing the Marketing Plan to engage and nurture potential clients. We also identified and set-up a Customer Relationship Management (CRM) system and a process so that every potential client they spoke with would receive a follow-up and regular communications as part of the engagement process.
Within 6 months their leads were increased by 65% and their income ratio adjusted from 90% with one client to 50%.