With emerging economies, digital disruption, market volatility, exchange rate fluctuations, political uncertainty and economic instability, there has never been a more exciting yet challenging time to be running a business.
In this environment however, being an owner manager can be a very lonely and testing time and where sometimes your existing teams aren’t able to provide the support and independent advice you may need.
At Menzies we have developed our Advisory offering to be just that support. Our years of experience working with owner managed business, gives us a unique platform to really make a difference to you and your business.
Menzies #BrighterThinking Business Advisory Services
Our approach is to build relationships with you and the people that are important to you. Once we truly understand your goals and aspirations, we are able to offer our expertise and support to help you achieve and surpass the things that really matter to you.
We deliver our advisory approach through five key areas:
- Reporting and Operations
Our team of professionals make a recognised difference to businesses by applying our unique approach to work through individual areas with clients or supporting the business in all of these areas.
Our business advisory in practice
Recently a Woking tech start-up who develop SaaS solutions came to us for advice. Having seen rapid expansion, the business was in need of fresh advice.
When they first came to Menzies, we took the time to really understand what it was that they were striving to achieve. Through our in depth review with them it became apparent that they need assistance in a number of areas.
1 – People solutions advisory
Their people were key to the business. We identified ways in which we could restructure the company and help the business to provide long term incentives to staff without compromising important areas from the existing structure.
We identified the need to develop the team further and the need to share more commercial information through a series of sessions on what the business was doing and the impact that it had.
2 – Reporting and operations advisory
Although the business was already embracing cloud technology, there were a number of disparate systems that were not being properly controlled and reconciled. This meant that meaningful financial data to analyse and base decisions on was very difficult to come by and very time consuming to produce.
Our knowledge and experience enabled our team to bring together the key elements of the time recording system, with their accounting information to identify where money was being made and lost, which staff were most productive, resourcing needs and customer profitability levels.
With the new reporting function in place the business now has the deep business insight required to make informed decisions at the touch of a button.
3 – International strategy and business advisory
Having established a much clearer view of the performance of the company, we were now able to help the business answer the big strategic questions.
Through a number of sessions with each of the five directors, we worked through a business model canvas to create a focused strategy that could be regularly reviewed and be used to hold individuals to account.
The result of this exercise has seen the client consider the viable opportunity to expand into the US, something which given Menzies connection to HLB – our internal International Tax resource – and experience of helping numerous UK businesses’ establish in the US, are currently assisting with.
A trusted business advisor
Through our deep understanding and regular involvement in the business, we have become pivotal in helping the owners make the informed decisions about the future of their business.
As well as improving revenue by 15% in the first month, the client is seeing tangible medium and long term benefits of our advisory-led approach.
By establishing procedures and reporting, developing a focussed business strategy and investing in people, our advice and support is enabling clients is achieve and exceed their business ambitions.
We are passionate about business and would welcome the opportunity to work alongside you.
For further information, complete our online contact form and we will be in touch.