Transforming Business Growing Pains into Balanced Lifestyle.
We grew so fast that running the business became overwhelming’
Situation
A large business with multiple divisions was growing fast yet struggling to pay its bills. The business owner wanted to spend less time in the business but couldn’t see how to step back with financial and business pressures mounting.
Identifying the Problem
In order to find the right solutions, we first needed to clearly define the problem. Part of that process is asking tough questions, such as:
Is the business structured correctly?
Do we have effective communications channels through the business?
Do we have the right systems and processes in place?
Do we understand the personalities within the business and how they respond to change?
Do we effectively communicate the vision and direction of the business to create staff buy-in as the business changes?
The Solution
Peer Review conducted a review of the business and provided the business owner with an objective analysis. Specific concerns were identified and recommendations made which would improve results. These recommended changes centred on improving the business structure and increasing profits. The solutions included:
Developing an organisational structure for each division of the business.
Setting meeting rhythms, clearly defining key job functions and assigning roles.
Systems and processes were documented, a current state was established.
An external management consultant was suggested to help the owner implement the changes and a management team was introduced.
A governance function was established with Peer Review to ensure the business remained accountable to its vision and values.
The solutions were prioritised and time frames for their implementation were established.
The Result
The business owner regained control of the business and established clear direction. Through improved structure, he has been able to take a step back from the business and is achieving a more balanced lifestyle.
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