Growth is almost always associated with success, but beware! The seeds of failure are often sown in periods of success when business owners/managers fail to plant the firm structural foundations and financial controls needed to accelerate growth whilst remaining in control of the business and its finances.
Growth from a rapid increase in sales can lead to ‘over-trading’ where the business becomes overwhelmed with fire-fighting day-to-day, quality problems, order delays, customer dissatisfaction staff stress and low morale, and declining profits, which can haemorrhage cashflow and lead to a financial crisis.
what should i be doing?
It is essential to establish strong financial disciplines especially when businesses are growing to ensure they maintain liquidity to continue funding that growth.
A key requirement is accurate and timely management information (real-time, daily, weekly, monthly) that is easy to understand. This is best presented in a dashboard format with key metrics (KPIs) that at a glance allow you to track performance and enable a strategic look forward to planning the business.
For example, some key financial indicators are – cash and cashflow forecast, profit margins, sales orders, profitability by customer, sales pipeline, debtors collection days, creditor payment days, working capital, and trends over time.
What should i look out for?
- Are you growing rapidly and ‘overtrading’ with problems fulfilling orders and huge strain on cashflow?
- Is your industry or market undergoing major changes?
- Is the business going through major changes e.g. rapid growth or decline?
- Are the management team feeling really stretched and is financial pressure increasing?
- Are you missing key skills at Board level such as Finance Director, Business Development Director, IT Director, Workforce Director?
- Are there one or two major customers the business is dependent on?
If any of the above ring true then get in touch to find out how we may be able to help you stay in control of both you business and your finances.
"Obi is unique combining the skills of a CEO and a CFO. Obi understands businesses and how to make them fly. He is highly intelligent, personable and achieves results. The sort of person that you want on your team."
“He gets things done through his highly collaborative management style and with persuasive leadership. I have seen Obi inspire clinical engagement and gain buy-in from executive peers and divisional leadership teams – often in highly charged or challenging situations. He will take an integrated approach to often conflicting goals by linking finance, quality and operational priorities to deliver sustainable financial, quality and operational improvements.”
“Obi is highly intelligent. He understands how hospitals work and this allows him to deliver results. He will gain buy in and co-operation from clinicians, finance and operations to ensure your goals are achieved. He has a wealth of experience to draw upon in order to transform services, save money and engage staff - I needed a solution rather than a series of quick short-term wins – Obi delivered this, and I would definitely engage him again if the need arose.”
"I worked with Obi on a senior leadership project for an international hospital. It was a pleasure to work with someone who has the same strong work ethic! He was professional, extremely knowledgeable and added immense value to the project."
- Tracy Bedwell, MD of global M&D company
Obi is a person who can make a real difference through his ability to understand the key challenges involved in a turnaround or business improvement situation. He can work with stakeholders to both formulate a turnaround or improvement plan but most importantly to get buy in and actually deliver the plan. He has experience of a wide variety of industries primarily with SME's in the private sector and in the NHS in the public sector.
Stephen Burke, FD and Transformation Specialist
I have worked with Obi on a number of projects and found him to be diligent, well informed, highly experienced and able to follow through and deliver his work. I would certainly recommend him for any consulting engagements.
Jonathan Webb, CEO Clarity Associates Ltd
I have known and worked with Obi for the last ten years on a number of different projects in the NHS. All of these assignments have been complex, challenging and have required clinical, operational and financial changes to be made at pace. What sets Obi apart is his ability to take people with him through these changes and to communicate them clearly and appropriately to those impacted. The client is always disappointed when the work is complete as Obi is a joy to work with and has a passion for ensuring that the changes made are sustainable and management teams and their staff develop their capabilities/capacity along the way.
Iain Alexander - Partner, PwC, Leader Government & Health Industries Restructuring
In these mad times it's great to find someone who can help you out of looming financial trouble so I was delighted to be introduced to Obi who brought clarity to my complex network of businesses. Once things became more settled, I expected to need to find someone else to review the growth and expansion plans for my media business, but again Obi was an invaluable consultant on a whole range of financial and business growth issues. Now pleased to work with him as our outsourced FD on contract.
Jack Chew, CEO Physio Matters, Therapy Live and Chews Health