Plan to Grow - Improve your Business Profitability
West Midlands Business Advisors can help you make the business improvements to grow your company organically and by acquisition.
Increase turnover – work with us to consider all opportunities to increase your sales.
- Geography – are there opportunities to export to Europe and the Rest of the World?
- Can you supply additional products and services into your current market?
- Product sector – explore possibilities of supplying similar products into additional sectors. Does your process capability deliver additional opportunities?
- Customers – is there anything else you could be supplying into your existing customers? Are you working on all possibilities to attract new customers? What is your prospect conversion rate?
- Have a clear business development plan
- Test and measure the effectiveness of your marketing
Are you working on improving your efficiency?
Increase your efficiency and profits – what can we do to increase Gross Margin?
What opportunities are there to work with your suppliers to reduce material content?
Can you increase the productivity of your processes?
What can be changed within your manufacturing process? Is your workplace organised to optimise flow?
Can you methodically eliminate waste from your business? Is your business Lean?
Are there opportunities to improve your plant and equipment?
What is your capital investment plan?
What is the planned return on investment?
What opportunities are there to improve your fixed costs and overhead?
Growth by Acquisition
Think about opportunities to improve your profitability by purchasing another business. Do you know of any businesses that may be similar to yours? Typically, if you purchase a similar business to your own, you will be able to make improvements based upon your experience.
You will normally realise synergistic savings, and yield further benefits through rationalisation of similar processes.
What duplication exists within the businesses? What opportunities are there to eliminate waste?
West Midlands Business Advisors will be able to help you be more efficient throughout the whole of your manufacturing and business process. Our practical experience will ensure you consider all aspects of reducing costs.