20-20 vision - future proofing your business pc · 2019-07-10 · microsoft powerpoint - 20-20...
TRANSCRIPT
![Page 1: 20-20 Vision - Future Proofing your Business PC · 2019-07-10 · Microsoft PowerPoint - 20-20 Vision - Future Proofing your Business PC Author: Kat Created Date: 7/10/2019 11:57:17](https://reader035.vdocuments.us/reader035/viewer/2022070905/5f750aebf65f261d3d312df1/html5/thumbnails/1.jpg)
VisionClarityPerspective
Working with you and your business to achieve your goals and vision.
![Page 2: 20-20 Vision - Future Proofing your Business PC · 2019-07-10 · Microsoft PowerPoint - 20-20 Vision - Future Proofing your Business PC Author: Kat Created Date: 7/10/2019 11:57:17](https://reader035.vdocuments.us/reader035/viewer/2022070905/5f750aebf65f261d3d312df1/html5/thumbnails/2.jpg)
20:20 VisionFuture Proofing your BusinessBy Peter CollinsManaging Partner
![Page 3: 20-20 Vision - Future Proofing your Business PC · 2019-07-10 · Microsoft PowerPoint - 20-20 Vision - Future Proofing your Business PC Author: Kat Created Date: 7/10/2019 11:57:17](https://reader035.vdocuments.us/reader035/viewer/2022070905/5f750aebf65f261d3d312df1/html5/thumbnails/3.jpg)
Introduction
• The winds of change are blowing
• The digital world is evolving
• BUT there is no silver bullet!
![Page 4: 20-20 Vision - Future Proofing your Business PC · 2019-07-10 · Microsoft PowerPoint - 20-20 Vision - Future Proofing your Business PC Author: Kat Created Date: 7/10/2019 11:57:17](https://reader035.vdocuments.us/reader035/viewer/2022070905/5f750aebf65f261d3d312df1/html5/thumbnails/4.jpg)
Why do I need to future proof my business?• 80% of new companies close their doors after 18 months
• It’s 50:50 that they will still be open in 5 years
• 70% don’t see their 10th anniversary.
![Page 5: 20-20 Vision - Future Proofing your Business PC · 2019-07-10 · Microsoft PowerPoint - 20-20 Vision - Future Proofing your Business PC Author: Kat Created Date: 7/10/2019 11:57:17](https://reader035.vdocuments.us/reader035/viewer/2022070905/5f750aebf65f261d3d312df1/html5/thumbnails/5.jpg)
What type of business are you?• Start-up
• Growth – to exit
• Growth – lifestyle
• Mature
![Page 6: 20-20 Vision - Future Proofing your Business PC · 2019-07-10 · Microsoft PowerPoint - 20-20 Vision - Future Proofing your Business PC Author: Kat Created Date: 7/10/2019 11:57:17](https://reader035.vdocuments.us/reader035/viewer/2022070905/5f750aebf65f261d3d312df1/html5/thumbnails/6.jpg)
Innovate to differentiate• Even mature companies need to innovate to succeed
• Empower the team
• Lead and nurture
• The McKinsey 7-s framework
![Page 7: 20-20 Vision - Future Proofing your Business PC · 2019-07-10 · Microsoft PowerPoint - 20-20 Vision - Future Proofing your Business PC Author: Kat Created Date: 7/10/2019 11:57:17](https://reader035.vdocuments.us/reader035/viewer/2022070905/5f750aebf65f261d3d312df1/html5/thumbnails/7.jpg)
Have a strategy
• Fail to plan, plan to fail
• Plan the destination, but be flexible with the route
• All parts of the organisation need to work in harmony to achieve the plan
![Page 8: 20-20 Vision - Future Proofing your Business PC · 2019-07-10 · Microsoft PowerPoint - 20-20 Vision - Future Proofing your Business PC Author: Kat Created Date: 7/10/2019 11:57:17](https://reader035.vdocuments.us/reader035/viewer/2022070905/5f750aebf65f261d3d312df1/html5/thumbnails/8.jpg)
What should the plan include?
1. Product/service delivery – current and future
2. Marketing
3. Financial performance and management
4. Embracing changes in technology
![Page 9: 20-20 Vision - Future Proofing your Business PC · 2019-07-10 · Microsoft PowerPoint - 20-20 Vision - Future Proofing your Business PC Author: Kat Created Date: 7/10/2019 11:57:17](https://reader035.vdocuments.us/reader035/viewer/2022070905/5f750aebf65f261d3d312df1/html5/thumbnails/9.jpg)
Marketing
• Develop a clear and structured plan for delivering your products/services to market
• Set targets for growth
• Embrace digital media
![Page 10: 20-20 Vision - Future Proofing your Business PC · 2019-07-10 · Microsoft PowerPoint - 20-20 Vision - Future Proofing your Business PC Author: Kat Created Date: 7/10/2019 11:57:17](https://reader035.vdocuments.us/reader035/viewer/2022070905/5f750aebf65f261d3d312df1/html5/thumbnails/10.jpg)
Develop skills• Invest in people
through training and development
• Through the use of technology
• People still buy from people
![Page 11: 20-20 Vision - Future Proofing your Business PC · 2019-07-10 · Microsoft PowerPoint - 20-20 Vision - Future Proofing your Business PC Author: Kat Created Date: 7/10/2019 11:57:17](https://reader035.vdocuments.us/reader035/viewer/2022070905/5f750aebf65f261d3d312df1/html5/thumbnails/11.jpg)
Funding• Own funding/friends and family
• Traditional funding – bank loan/overdrafts or factoring
• Look at alternative – Funding Circle/Crowd funding
• What about SEIS/EIS – tax efficient investment
![Page 12: 20-20 Vision - Future Proofing your Business PC · 2019-07-10 · Microsoft PowerPoint - 20-20 Vision - Future Proofing your Business PC Author: Kat Created Date: 7/10/2019 11:57:17](https://reader035.vdocuments.us/reader035/viewer/2022070905/5f750aebf65f261d3d312df1/html5/thumbnails/12.jpg)
Managing and reviewing financial performance
Having set the plan – review actual outcome to the plan
Don’t be constrained by the plan but flex it to take account of the changing circumstances
Develop a “dashboard” approach to understanding your business – use technology such as Futrli to help manage this aspect
![Page 13: 20-20 Vision - Future Proofing your Business PC · 2019-07-10 · Microsoft PowerPoint - 20-20 Vision - Future Proofing your Business PC Author: Kat Created Date: 7/10/2019 11:57:17](https://reader035.vdocuments.us/reader035/viewer/2022070905/5f750aebf65f261d3d312df1/html5/thumbnails/13.jpg)
Profit extraction vs Profit retention
• Understanding cash vs profit
• Salary and/or dividends and net of tax returns
• Pension scheme
• These should all be part of the plan
![Page 14: 20-20 Vision - Future Proofing your Business PC · 2019-07-10 · Microsoft PowerPoint - 20-20 Vision - Future Proofing your Business PC Author: Kat Created Date: 7/10/2019 11:57:17](https://reader035.vdocuments.us/reader035/viewer/2022070905/5f750aebf65f261d3d312df1/html5/thumbnails/14.jpg)
What can HF do to help?• A business must grow and evolve over its life time
• Needs a clear path for the future
• HF, as trusted advisers, can help develop that path with you and support you on the journey
![Page 15: 20-20 Vision - Future Proofing your Business PC · 2019-07-10 · Microsoft PowerPoint - 20-20 Vision - Future Proofing your Business PC Author: Kat Created Date: 7/10/2019 11:57:17](https://reader035.vdocuments.us/reader035/viewer/2022070905/5f750aebf65f261d3d312df1/html5/thumbnails/15.jpg)
A final thought…
• So, there is no silver bullet; but
• Once you have the keystones in place, your business will be ready for the challenges of tomorrow
• You cannot change the direction of the wind, but you can change the angle of the sail
![Page 16: 20-20 Vision - Future Proofing your Business PC · 2019-07-10 · Microsoft PowerPoint - 20-20 Vision - Future Proofing your Business PC Author: Kat Created Date: 7/10/2019 11:57:17](https://reader035.vdocuments.us/reader035/viewer/2022070905/5f750aebf65f261d3d312df1/html5/thumbnails/16.jpg)
20:20 VisionFuture Proofing your Business
By Peter CollinsManaging Partner
![Page 17: 20-20 Vision - Future Proofing your Business PC · 2019-07-10 · Microsoft PowerPoint - 20-20 Vision - Future Proofing your Business PC Author: Kat Created Date: 7/10/2019 11:57:17](https://reader035.vdocuments.us/reader035/viewer/2022070905/5f750aebf65f261d3d312df1/html5/thumbnails/17.jpg)
Delivering Award Winningbusiness solutions
@HartleyFowler fb.me/HartleyFowlerB
www.hartleyfowler.comwww.hfcloud.co.uk
www.linkedin.com/company/hartleyfowler