7 Strategies to Supercharge Your Business Decision

How data analysis and forecasting can supercharge your business decision.

7 Strategies to Supercharge Your Business Decision

How data analysis and forecasting can supercharge your business decision.
Finance Specialists are vital to the success of a business.
I was approached by a father in my sons’ class at school, a number of years ago. He worked for a company based north of Brighton. The company was undergoing some changes and the division that he was CEO of was up for sale since it was peripheral to the core business. My friend wanted to buy the division, but he needed someone to help him with his business plan.

For the buyer of a business, professional advisers act as an invaluable buffer in what is an emotive process. They will also help you with paperwork and negotiations. Don’t attempt to do this alone.

Financial Forecast
I sat with my friend and put together a three-year financial forecast for the business, based on the information that he provided. We discussed and talked about the key assumptions in the forecast and agreed that they were soundly based. The finance director of the seller recommended a corporate finance company (CFC) that we could contact to raise the necessary funds to buy the division.

We provided financial information as requested by the CFC which were followed by several meetings to finalize the business plan. The CFC prepared the business plan based on the information provided. The CFC spoke to their contact in the Venture Capital industry. Subsequently, there were meetings with a Venture Capital investment company that offered to finance management buyout. The process from completing the business plan to the offer from the venture capital investment company was about one month and from the offer to completion was about four months.
Shaking hands
What does it mean when you buy a division of a company?
When you buy a division of a company, you effectively buy the staff and the contracts and the relationships. You do not buy any of the parent company’s admin staff, accounting systems, premises, IT systems, telecom systems, banking facilities or professional relationships. You have to set-up a completely new back office supporting the company’s sales, marketing, and operational activities. Although my client bought the business of a division of a company, the business still had to find offices and equip them, from fitting carpets to installing computers and office equipment.

We spend a couple of months, equipping the company, occupying temporary offices first and then found some suitable offices a few months later and moved. We used furniture that we already acquired plus new furniture as necessary. We had to put in ethernet systems, telephone systems to support our worldwide work. We were a global company trading around the world, servicing clients with software and support and needed systems reliable systems which became the backbone of our company.

We developed and implemented a new management reporting system. We built new relationships with customers and suppliers. We had sales reps and employees in America and subsequently had to set up a bank for payroll and supplier payment purposes.

A significant amount of complex accountancy matters and transactions were required as we relationships with US Customers and suppliers. As a global business, we needed to support the sales team as they travel around the world as well as the operations delivery team who installed the kit and made sure it worked to the client’s satisfaction.

It is vitally important that the back office and support systems are set up and function properly.

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The more you examine what is true about your business, the better you will be at prioritising the areas that demand your attention. Here is a series of questions you can use as a starting point for identifying potential problem areas in your company’s financial system. This is not intended to be a full analysis, but rather a tool you can use to focus your attention. Take one question at a time and really think about your answers. This is not a test. There are no right or wrong answers. There are only responses that reflect your truthful objectivity about the state of your business.

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