If you can't measure it, you can't improve it.
Now that you’ve got a strategy for the future direction of the business, we need to measure its’ effectiveness. We’ll show you how.
“In business, the idea of measuring what you are doing, picking the measurements that count like customer satisfaction and performance…. you thrive on that.”
– Bill Gates
Systems & Processes
To be able to measure performance, then first of all you need to have systems and processes embedded within the business. These don’t have to be complicated, they just have to be effective. We’ve got a wealth of experience doing this in our own businesses and for our clients.
Once the systems and processes are in place, then we need to look at Reporting. What is it we need to know, and when do we need to know it? How dynamic does that information have to be? How can we use technology to help us? We help our clients answer questions like these every day.
Key Performance Indicators
What are the Key Performance Indicators for your business? Are there benchmarks for your industry that we can measure against? We also help our clients build financial models so that we can measure against budgets and cashfow forecasts.
Now that you’ve got all this great information, you need to do something with it. How often should you be reviewing it? What do you do with the results? If things are going wrong, what’s the cause and what do you do about it? These are among the many challenges that we help our clients solve.
A turnaround is the financial recovery of a company that has been performing poorly for an extended time. To achieve a turnaround, a company needs to acknowledge and identify its problems, consider changes in management, and develop and implement a strategy to get out of the situation. At Ashton McGill we specialise in the turnaround of under-performing companies.
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