How A Financial Advisor Can Dramatically Improve Your Business

A financial management consulting service can help your business with critical advice on growth strategies and improved organizational efficiency. This advice can take your business to a whole new order of magnitude.

Let’s take a closer look at how this can happen:

Business Growth Strategiesstock chart

Business growth is difficult for all companies in all industries. When we read the financial press, it gives us a distorted picture of how well businesses in general are doing around the world. We only see the 10 percent who are worthy of media attention and not the majority who fail to create sustainable growth.

Business is hard for most companies around the world for three main reasons:

  1. Companies simply overlook a lot of revenue generating opportunities in their primary businesses. Few C-level executives will claim their business has come close to its the full potential. Since financial business management consultants have rich experience with numerous clients and the advantage of an outsider perspective, they can see the untapped potential in your business, as well as where your money is being squandered and how it can be strategically reallocated to generate significant profits.
  2. Companies who enjoy the advantage of serving a mature market too often diversify into emerging markets hoping to make some fast profits instead of taking advantage of their already well-established business model and trusted connection with a receptive customer base.
  3. Companies may fail to define what they do well and then hit a wall in their core business. When Steve Jobs returned to Apple as CEO, he threw out their frivolous new line of products and began to focus on a core line of specialized, aesthetic, and sophisticated tech products like the iPod, iPad and iPhone. The results of this simple strategy changed Apple’s fortunes.

When these common errors are addressed dramatic changes can happen.

Here’s what strategic growth can look like:

After the University of the Virgin Islands teamed up with Cane Bay Partners, a St. Croix business in the Virgin Islands, the university was advised to develop a progressive Computational Science and Business Modeling curriculum for the university. This growth strategy introduced students to leading edge training in decision sciences, predictive analytics and econometrics.

Organizational Efficiency

Another area where businesses need help is learning how to improve organizational efficiency.

Here are 5 ways a business management company can offer a refreshing perspective.

  1. It can show a business how it measures up against everyone else in their industry and set some realistic benchmarks for success.
  2. It can show a business how to create value throughout its organization by replacing unnecessary complexity with effective roles and goals. Organization simplification is an answer to disruptive technologies and globalization forcing a company to struggle with it strategic objectives.
  3. It can show a company how to make effective decisions in every phase of its business processes.
  4. It can show a company how to recruit for talent and create a future supply of leaders. In a technologically driven world, talent is the new wealth. We are leaving the industrial age behind and emerging into a knowledge era. Nurturing technologically-literate, high performing, talented people will allow a company to leapfrog over its competitors. Kate Donovan, the Global RPO President for ManpowerGroup Solutions, said,”
    According to ManpowerGroup’s 2013 Talent Shortage Survey, 35 percent of employers worldwide are having trouble finding staff with the right skills. When organizations don’t have the right talent at the right time, the cost comes in the form of missed opportunities, dissatisfied clients and a negative impact on the bottom line.”
  5. It can show a company how to use measurement, incentives, and other performance enhancing tools to create a highly effective organization.

Conclusion

With the right advice, it’s not inconceivable for you to take your business to a whole new order of magnitude. They bring to the table a variety of ways to analyze your business, measure its effectiveness, reduce risk, and improve its developmental model.

When Cane Bay Partners advised the University of Virgin Islands on the best type of classes to offer their students, they had enough foresight to understand that we are heading for a world where there will be many more high-tech computer jobs than people to fill them. Specifically, there will be about 5 million unfilled jobs by 2020. Their financial advice was an incredible growth strategy for the university, the student’s fortunate enough to be enrolled, and for the Virgin Islands itself.

The potential for offering these classes was always there, but it took a financial business management company to point out the future and how to align with it.

 

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