Here at MHCO, we strongly believe there are three essential tools all successful businesses must have:
1. An annual Business Plan
2. An annual Cashflow Forecast
3. Quarterly Coaching
We call this ‘The MHCO Success Trifecta’.
How you’ll benefit from our Success Trifecta service:
- Review and set the direction of your business
- Identify and prioritise your key goals
- Create strategies to achieve your goals and improve the cashflow in your business
- Understand the key cashflow drivers and the Cash Conversion Cycle in your business
- Predict and plan for large cash outflows
- Drive your business to achieve your goals in a controlled and managed way
- Accountability and support to ensure you achieve your goals
Our most successful clients have an annual Business Plan, Cashflow Forecast, and meet with us quarterly for accountability, coaching and support. The value is in working together at each session to identify the key areas for improvement and develop strategies you can implement to ensure your business is running at its maximum potential.
The Business Plan
A Business Plan sets the future direction for your business. During our four-hour Business Planning session, we’ll help you set solid and realistic goals for your business and determine the actions you need to take to achieve these. You’ll identify your revenue targets for the year and the first quarter, set Key Performance Indicators, and identify the opportunities and vulnerabilities in your business.
The Cashflow Forecast
Don’t wait for the bank to ask you for a Cashflow Forecast. It’s essential that you understand the expected cash inflows and outflows in your business. A Cashflow Forecast allows you to monitor and maintain your cashflow on a monthly basis, gives you control over the cashflow in your business, and helps you identify how much you need to set aside for tax. A Cashflow Forecast is critical to the survival and growth of any business.
It’s crucial that you track how you are measuring against your Business Plan and Cashflow Forecast in real time. We’ll meet with you quarterly to bring your reports to life, compare your forecast to actual results, and implement basic cashflow maximisation strategies. We’ll make sure you understand your Cash Conversion Cycle and identify the likely causes of any cashflow problems within your business.
We’ll also hold you accountable and provide support to keep you on target towards achieving the goals you’ve set in your Business Plan.