Business is booming. You’ve been in business for years. Sales have increased. Customers are happy. Employees are added to your team every year.
But something seems to be out of balance. You expected to have more to show for the hard work.
It’s difficult to know where to invest your resources and what to improve first.
Growing a business has a lot of moving parts and often leads to issues like
- Financial surprises
- Dependence on owner
- Copying your competitors
- Disconnected departments
- Disengaged employees
The bad news is companies do not become great as the result of a single magical solution, but rather from the accumulation of small wins that build momentum.
The good news is there are only three key aspects of the business you need to balance
When all three areas are in alignment, you and your team will experience
- Predictable cashflow
- Get your time back
- Become an industry leader
- Improved customer experience
- Employees act like owners
Imagine leading a business that is
- Profitable year-round so you never run out of money
- Voted best place to work by your employees
- Consistently receiving 5-star reviews
- Not dependent on you
This is what a great, balanced business looks like.
The Balanced Business Method is a revolutionary approach to business finances, making decisions and healthy growth. When the people, money and systems are in balance, you create a fly wheel effect.
Every business requires balancing five groups of people - owners, employees, customers, vendors and community
From a financial standpoint, consider how money flows in and out of your business.
Money in > Money out
Companies generate money in only three ways
- Investments from owners
- Loans from banks
- Sales from customers based on the price that you charge
The first two sources of money are not sustainable long term because the investors and bankers will eventually lose confidence in the business.
This is why the price you charge is so important…it’s the one and only source of money for your business.
In contrast, there are six ways your business spends money:
- Operating expenses
- Income taxes
- Return on investment
- Grow the business
When money is spent on the first three, the money is gone…there’s no future value to the company.
Momentum builds when there’s enough money to fund the growth of the company.
Cash is an important financial viewpoint you need to consider, but did you know there are countless ways to view financial information?
Here are the top 7 financial viewpoints you need to lead a balanced business:
- Net worth
It’s easy to get caught up in the day-to-day activities of delivering great service by focusing on doing the work.
A balanced business requires all three of these key systems
Plan what the team will do by creating a strategic plan. Then communicate expectations to your team and equip your employees for success.
Do what you planned and track information along the way.
Reflect on what worked, what did not and why. Act on anything that did not go as planned. Revise the plan
A balanced business creates a fly wheel effect where everything stays in alignment even as the company grows.
Balanced Business Fast Track
With so many variables and moving parts, it’s hard to know where to start. We recommend you start by reviewing the people, money and systems related to the customer journey.
- Create a culture of profitability by teaching your employees how their daily decisions affect sales, profit and cash
- Break down silos by improving communication and creating a feedback loop of useful information.
- Follow the money by reviewing the system that your customers go through from start to finish. Price, prospect, proposal, provide the service, profit and paid.
Our Balanced Business Accelerator Program is a great way to help you start making small 1% improvements that have a big impact.
Uncover the realities of your business from an unbiased point of view. This includes reviewing your financial reports and the customer journey from start to finish…from setting the price to getting paid. We’ll identify what’s working, what’s not and why. Then, evaluate your options, summarize our findings and present our recommendations. This stage is designed to get laser focused on what you need to improve first.
Planning is about identifying the right next step. We’ll work with you to align your resources with your goals to create an action plan that outlines your next steps. We will also identify checkpoints to ensure you stay on track.
Now, you’re ready to take action to make the 1% improvement that will have a big impact on your business. Plus, you’ll add guardrails to prevent the same problem in the future.
Celebrate…you made the improvement your business needed to grow. Now, it’s time to repeat the process – pinpoint the next opportunity, map out a solution, make the change and repeat.
The compounding effect of 1% improvements will transform your business.
Work with us
The Balanced Business Accelerator Programs starts with the Action Plan which includes the first two stages – Pinpoint and Plan. We’ll help pinpoint the one thing you and your team should focus on first. The project takes about 30 days. You will
- Understand your business’ strengths and weaknesses throughout the customer journey from Price to Paid.
- Pinpoint the 1% improvement that will have the biggest impact.
- Receive a customized action plan outlining the next steps for making the change your business needs
Guided implementation and training are also available. The investment and timeline are dependent on your customized action plan.