Where Do You Have the Wrong People On Their Seat on Your Business Bus?
September 11, 2013 – Atlanta, GA – Gary W. Patterson, FiscalDoctor®, expert on profitable growth rapidly suggests business owners and leasers review existing resource allocations and prioritizations to create growth opportunities.
Each business has worthy goals for strong growth, high profits, and strategically applied use of existing resources. The limited availability of time, people, and money make allocation of resources critical to achieving the company’s objectives. The process of analysis and recommendation can be timely but with the assistance of a consulting or accounting firm, optimized resource allocation can create opportunities for growth and profitability.
Surveying and Data Collection
An accountant or consultant has access and time to conduct a survey of time allocations, labor and intellectual property resources, expense sources, and assets to determine exactly how the resources are being used. The work and time needed to properly gather the information for resource allocation decisions is far more than most decision makers can create in their day. The help of an accountant or consultant like Fiscal Doctor can ensure the data is collected and organized in a timely fashion. For an example, the surveys and data collection could result in a report of available man hours, assets unused, and detailed expense reporting.
Analysis and Projections
Continuing the example, the consultant may discover there are 250,000 available man hours and only 100,000 are contributing directly to revenue growth. The analysis and data is then used to make projections regarding potential implications of reallocating resources from one use to another and what affect that would have upon revenue, expenses, or profits. Analysis of the data creates information that leads to projections and ultimately a recommended decision.
It’s a common adage among business leaders that it is difficult to work on a business while working in a business. The accounting firm or consulting firm assisting with a resource study has the ability to spend not only the time but also give the outside perspective often needed to properly gather data, analyze the situation, and provide an unbiased recommendation for greater opportunities. To conclude the example, the consultant will offer the business’s decision makers the data and survey outcomes collected regarding the man hours that are not creating revenue and what the projected revenue might be if the resources are optimized, and finally a recommendation for how to optimize the company’s workforce to create a higher percentage of revenue generating man hours.
Businesses interested in reaching objectives and growing the company need only reach out to a consultant like Fiscal Doctor or even their current CPA firm for resource usage study, analysis, and recommendations for reallocation to optimize the current resources. The timely process can be overwhelming to an executive but to a consultant or accountant, the surveying and analysis is made easier by their access to software and unbiased approach streamlines the process and offers the executives just what they need– information and a recommendation to make a decision for greater growth and profitability.
About Fiscal Doctor
Fiscal Doctor, Gary W. Patterson, has more than 30 years of senior management experience with high growth technology, wireless, manufacturing and service companies. He has worked with more than 200 companies — from start-ups to Inc 500 to Fortune 500 — providing high level strategic guidance and expertise. Revenue growth, merger and acquisition negotiations, expense reduction, and resource optimization are a few of the ways Fiscal Doctor helps businesses improve financial health and overall success. A free fiscally fit quiz is available on the Fiscal Doctor website at https://fiscaldoctor.com/fiscal-quiz