- Business Consulting
Whether you are purchasing an existing business or starting from scratch, it is important that the fundamentals for a profitable business are applied. For example, is the business in an industry with strong growth potential? Is there adequate capital available to support growth? Has the competition been accurately measured? Are the margins adequate? Are you getting value for money?
A business plan is a formal statement of business goals, reasons they are attainable, and plans for reaching them. It may also contain background information about the organization or team attempting to reach those goals. Source: Wikipedia.
Essentially, business plans set goals and plan how you’re are going to reach them.
This involves detailing the benefit of a situation or action and then subtracting all the costs associated with taking that action. In other words, it’s a process of verifying whether the benefits outweigh the costs, and by how much.
Project management is the practice of initiating, planning, executing, controlling, and finalising projects. This may relate to a fixed asset purchase requiring planning through to installation or a building project from commencement to completion. Project management is essential to ensure that costs are established and controlled. Contract negotiation includes the likes of sale & purchase agreements, supply & agency arrangements and farming agreements.
With relatively fine margins applying in today’s environment it is important that costings and profit margins are accurate.
Due diligence involves investigating all aspects of a business operations. This includes looking at financial accounts, viability, asset valuations, intellectual property, lease commitments, employment contracts etc.