WE FEEL THE LOVE…
Is February a good month to consider looking at growth opportunities and start with a Benchmark Assessment?
Well, we feel the love in the air so please read on and check out our gift to you below!
For any new readers, NSS is an experienced, cross-functional and operationally driven group of Business and Finance Advisors. In particular, we focus in four areas of your business:
- Growth Opportunities
- Profit Optimization
- Business Systems and Processes
- CFO Search and CFO Mentorship
NSS finished tabulating the results of a CEO SURVEY taken in Q4 of 2015. Our survey incorporated questions around growth, decision-making, immediate challenges and their view of importance on financial expertise.
Let’s take the first one, GROWTH, and how they identify opportunities. What is their process in making sure the opportunity is achievable and optimal for the organization? Our question “What could hold you back from achieving your growth objectives”, provided us with an evenly distributed response:
- 1/3 feared that the opportunity would no longer exist as planned, whether additional products to market materialize or lack of opportunity in general
- 1/3 worried of not finding the additional capital
- 1/3 were concerned in finding the right people
The first one is indeed an intriguing fear and I would like to address this a bit further. With continuous uncertain market conditions, an organization today must be nimble, efficient and quick in the decision-making process. Goals are achieved by companies who operate at the highest level of effectiveness. In order for the CEO and Business Owner to understand how to maximize growth and profit opportunities, they must understand the contributing value of each of the Four Functional Business Elements: Sales, Operations, Finance and Organizational Culture.
We learned that most of the CEO Survey takers did not have any particular decision-making process, but mostly relied on their intuition. A day in the life of a CEO is extremely demanding yet making a silo-based decision could hurt the company long term. Every decision has ramifications to the entire organization, whether it is an offsite Strategy meeting or a Sales Pipeline Projection Exercise. Don’t get me wrong, these activities are important, but the dots must be connected back to the Four Functional Business Elements and eventually back to Finance.
In order for a business to successfully and optimally make decisions, they must first understand the interdependency of these four business functions, how they relate or not relate. Often changes can be made easily within a department so not to hold up a decision-making process or in the worst case, miss the opportunity all together for a new product launch.
Two years ago, NSS developed a Benchmark Assessment tool to help our clients gain a more in-depth understanding of how the business functions interrelate and how they can de-risk the business with having a solid decision-making process in place. Because we at NSS practice cross-functional thinking when working with our clients, we created a true value for them in developing our short and long version of a business assessment tool: Best Practice Roadmap™.
It is February and we feel the love in the air!! NSS offers you a complimentary short version of a Best Practice Roadmap™!
The assessment is designed for businesses with $15M+ in annual revenue and if you would like to find out how you stack up against best practice firms, please send us your contact information and we will send you the link to fill out the assessment online. Once you complete the assessment, we will analyze the information and send you back a report. Of course, with complete confidentiality.
HAPPY VALENTINE’S DAY!! Rudi and the NSS team
Rudi Scheiber-Kurtz of Next Stage Solutions, Inc. | 617. 449. 7728