Build your business rehab programme
How’s your business rehab programme looking?
I personally think the ‘rehab’ concept is a really useful approach to planning to get your business back up and running again in a stronger, healthier way than ever before.
Many business owners in our community are likening the current environment with having been in an accident, or suffering a sports injury. They realise things have changed, their business has been “out of action” or “on the sidelines” for a while – and what’s needed now is a plan to get it back to full fitness in the most efficient and effective (but also strong and sustainable) way.
So what does ‘optimal fitness’ or ‘fit for purpose’ mean for your business? What does that look like going forwards, and how will you get there? Whether you’re thinking along the lines of a rehabilitating patient or an elite athlete, it’ll inevitably involve some kind of training plan and clear goal-setting.
Here’s an additional suggestion: why not take this opportunity to not only to get back to full fitness but also gain some bionic enhancements?
You can design your own business rehab, physio or training programme, of course. And for the sales and operations side of your business, there’s probably no-one better. But fitness isn’t just about growing sales. It’s about every area of the business being at its best, delivering the most effective performance at all times – including the finance function.
BUT which business owners have ever worked in or experienced a highly effective finance function (and the ongoing benefits of that), let alone created one? I can hear your enthusiasm from here, BTW!
An optimised, highly effective finance function will actually help you make more sales, improve profit and generate more cash. That sounds good, doesn’t it?
If your finance function isn’t doing this, then it’s not being effective and not supporting the business as it should be. How does that make you feel? Have you got a closet coach potato or an elite athlete in your midst? If it’s not the latter, then you deserve better…
The most effective finance functions have the perfect balance of capability, capacity, process and system. Two of these are about people – it’s just that most businesses don’t take the time to consider that there’s a difference between capacity (hours available) and capability (expertise and experience, and the ability to apply both simultaneously for a better outcome in the context of the situation). Most businesses buy capacity first because there’s a belief that more is better – but capability is actually what drives efficiency, improvements, and ongoing fitness (profit and cash in this rehab context).
At YRH, we know that most businesses under £3m turnover don’t need a full-time finance function – and that most of these businesses are missing the vital element of capability that will help drive efficiency, optimal health and profit.
We know that businesses between £1m and £5m turnover go through the hardest and most monumental type of change that they ever will in their whole business life. We know they need help to get through it and to become (and remain) optimally fit during this transformation.
We also know what the fitness programme is that businesses of this size need in their finance function – and how that programme can support stronger results, more profit and better cashflow.
Would you like that insight too? Ask us to carry out a FREE financial health check on your business now – it takes just 45 minutes of your time and provides immediate practical suggestions. Then, if you’d like us to, we can start working on that fitness plan and get you back on track as quickly and as efficiently as possible.
Book your FREE health check here – and take care out there…
Jennifer Raines, YRH Founder