Regular Meetings

Your business will be a lot healthier if you meet regularly and have a plan

Challenge:

We began working with a local family business that had never held regular business meetings.

 

Action:

To start, an Annual Profit Plan was set so that the business owners and the board knew the profit the business needed to make for the year. Alongside this, a Key Performance Indicator (KPI) monitoring system was put into place. Monthly Board meetings were structured with the board including family shareholders, key employees & Sullivan Dewing as the external advisors. Each month, the internal accountant prepared the necessary reports to present to the board. A standing agenda ensured that all items were covered at each board meeting, and an efficient meeting was run.

 

Results:

After initially setting a stretch profit target & making sure at the monthly board meetings that there was a strategic focus on gross margin and profits, the business owners have enjoyed their best year ever. In the words of the business owner: “The key benefits gained from running a board meeting with external advisors are strategic direction, clarity of purpose and attention to detail.”

Upcoming Events

9:00am - 11:30am Thursday 22 May 2014 - Australia's Biggest Business Morning Tea

Australia's Biggest Morning Tea Sullivan Dewing is a prou..



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