With most businesses, there is ample room for improvement. It is sometimes difficult to see improvement opportunities when you are busy managing the business. We can help.
Whether you are profitable and want to improve on that, or if you are approaching a meltdown, we can work with you. Many times we can look at the situation with fresh eyes and develop a turnaround strategy to allow you to save your business.
Many businesses need improvement in one or two specific areas. Many times it may be a problem with getting your materials to the assembly line on time. Or maybe your costs are out of line.
We have the experience to help fix or improve your business. Whether your problems stem from HR issues, Engineering issues, or any of a multitude of operation issues, we have the talent available to solve the problems. Confidentiality assured. Time is of the essence. Call today.
Business Improvement Service Testimonials:
"I can recommend Tennessee Business Services for anyone looking for bookkeeping, accounting, tax preparation and business consulting services. I spent 4 years with 5 different outfits before I found Ken and Merry Ann. Over the last three years they helped me grow my small immigration law business from $208,000 to $305,000 gross per year because they helped me cut costs, do financial planning, stay on a budget and focus my energy on money making activities. This is during a huge recession! The return on my investment paying their fees has been the best business decision I have ever made. They are a truly unique team that covers both the big picture and the small details. They keep their promises and I trust them completely. They train my staff on Quickbooks and reconcile my accounts remotely so I know exactly where I am financially. I rely on them every day and they continue to perform at a high level."
-Mark Daly, Immigration & Naturalization Attorneys, P.C., Nashville, TN
Realizing that your company is a turnaround candidate is not always easy. It is normal to think “next month (or next quarter) will be better”. Most businesses fail for more than one reason. To fix the problems, you have to look at the whole company.
The key to turning around a company is to start early. The longer you wait, the less chance of success. Any time you are losing money, time is of the essence. Few businesses have enough cash reserves to absorb continued losses.
The turnaround process involves looking at all aspects of the company. We look at sales, operations, finances, and HR to identify problem areas.
First we must answer: What is/are the root cause(s) of the problem?
Then we: Stop the bleeding. Restructure/ Redefine systems/processes.
Finally: Manage and train. Hand back over to management.
For companies that are losing money, a drastic and rapid turnaround is necessary. When you are losing owner’s equity, drastic actions are required.
We work to plan and manage the turnaround process. We work with owners, lenders, and banks to find and fix problems in small businesses. We are able to bring an unbiased, outside prospective to the business. This allows us to “see” things that may get overlooked by someone already involved in the company. Everything we do is done with three basic goals:
2) Long-term well being of the company
We would like to discuss your situation. We can help. Give us a call for a free assessment.
Many times, recognizing that your company has problems, BEFORE the crisis stage, allows you to take a “less intrusive” approach toward fixing the problem. To put it another way, if you recognize there is a problem before you are actively losing money, you may be able to take a calmer approach to fixing the problem(s).
Has your profit margin eroded? Are you working twice as hard to make half as much as you used to? We can help you identify and fix problems affecting your profitability. Whether your margins have evaporated, or if you have never gotten to the profits you expect, we can help.
Give us a call for a free assessment.
Financial Projection, Personal Finances, Company Structure
We view business planning as a critical part of running your business. If you do not have a plan, how do you know if you are succeeding, or just surviving? It becomes very easy for time to slip away without accomplishing the things needed to increase profits. When you are in the middle of fighting fires, the important steps toward growing the business will often get left “until next week or next month”. It is human nature, but that does not mean you cannot change it. “Plan your work and work your plan” is the best way to run a business. You HAVE to make time for improving and growing the business, or profits will suffer.
If you need assistance generating financial projections for your overall business, or for a specific project, we can do it. Likewise, if you want to get control of your personal finances, we can approach that just like we do business finances. We can assist with determining which structure (C Corp, S Corp, LLC, etc) will yield the most advantageous tax position for your company.
Whether you are just starting a business, or need to develop plans for an existing business, we can help. Give us a call for a free assessment.
We can help with your new business. Whether you need a business plan, financial projections, or just general advice, we can help. Doing the proper planning in the beginning will really pay off, as you work and grow your business. Any new project needs a plan. We can help you develop your roadmap to success. Our services are tailored to your needs. Our goal is your success! Give us a call today for a free consultation.
Revenue & Expense Variance Analysis
We can help you identify both where your money is coming from, and where it is going. Many business owners don’t take the time to review the numbers, and consequently don’t have an understanding of where their money is going. Our system will provide you with a quick, concise summary of where your money went, where you are over budget, and where sales were relative to the budgeted amount. Again, we help you to manage your business, rather than letting it manage you.
Budgeting is an important component in running your business. We can help you develop a budget, and then review actual expenses against budgeted. This is very helpful as it can provide an “early warning system” should your business start to head in the wrong direction. It is also the baseline used in cash flow forecasting.
A monthly review of money actually spent vs budgeted will make you aware of where your money is actually going. Many times, a business owner is unaware of where their money is going. Having a budget will answer that question, as well as allow you to plan and forecast where you want your business to go.