Andrew Free

- Understanding the true cost of your product or service is vital to ensure a good profit margin.

- Controlling variable costs and overhead costs to keep profits on track.

- Managing cash flow to utilise the peaks and survive the troughs in the cash flow cycle.

- Ensuring that financial reporting is not only accurate, but provides the information relevant to the successful operation of the business.

- Proper financial planning, including meaningful budgeting and long-term strategic planning.

These are examples of a couple of businesses I’ve helped in the past to achieve great outcomes:

Health Care Call Centre After 5 years of operation, the business had only managed to achieve a breakeven result.

The key issues I identified and addressed:

-  Pricing - created an accurate pricing model, which protected the business when it grew substantially.

- Contracts - helped negotiate and win a large contract with fair pricing and reasonable clauses.

- Operational KPIs - introduced daily reporting to ensure ‘variable costs’ were managed.

- Overhead Costs - Implemented precise budgeting and authorisation controls. As a result revenue increased from $35m to $70m in two years and profit increased to 9% of revenue.

EFTPOS Equipment Supplier, The business was growing rapidly across the Asia Pacific Region and struggling to manage the growth.

The key issues I identified and addressed:

- Cost Structure – analysed the costs and implemented controls, which protected the business as it expanded into new countries.

- Pricing – introduced a model that was accurate and easily transferable to new markets.

- Debtors – implemented strict credit control and collection procedures.

- Stock – ensured procurement was controlled in line with known requirements.

- As a result savings of $350k p.a. were identified and the business managed to maintain an annual growth rate of 25% pa. without requiring additional borrowings.

If you have an aspiration to grow your business and would like to discuss your goals and plans, I would love to hear from you.

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