Business Management Program

Regardless of size, all businesses should have a system whereby the business can be directed, monitored and controlled. In publicly listed firms this is the purpose of the board, whereby the Directors have a range of compliance and performance responsibilities.

Private firms can also utilise the board concept, or a management meeting to direct and control the business.

In the Business Management Program, Raffino provides ongoing assistance to business owners by chairing and facilitating a regular management meeting. This ensures a continuous improvement culture is developed and maintained in order to direct and control the business.

By allocating regular, dedicated time to direct and control your business you will be proactive in driving its performance. This will provide knowledge and reassurance about its future, and help maximise business value and shareholder return. It is also an excellent vehicle for improving communication and alignment between shareholders or family members.

The purpose of the management meeting is to:

• Create enduring business value
• Maximise shareholder return
• Formulate and direct business strategy
• Monitor and continuously improve business performance
• Comply with legal and accounting requirements
• Recognise and manage business risk
• Provide accountability to the management team

Directing your business involves extracting yourself from the day to day operations and taking dedicated time to review its position. This is a key duty and responsibility as a business owner and company Director.

Raffino Business Solutions has considerable experience in acting in the role of chairperson and facilitator for management meetings. We offer external, independent viewpoints and experience. All Raffino advisors have tertiary business qualifications, greater than 19 years business experience, are members of the Australian Institute of Company Directors (AICD), and are graduates of the AICD Company Directors Course.

Raffino use a proven management meeting process ideally suited to small and medium size businesses, where the company directors are usually also the business owners and/or managers. This means that all management issues and key performance indicators are discussed during the meeting, not just those issues relating to a Director’s role.

The Raffino management meeting delivers documented actions after discussion on some or all of the following areas:

Team

• Reviewing team and individual performance
• Identifying training or mentoring requirements
• Measuring productivity
• Improving communication
• Reviewing roles and responsibilities
• Identifying recruitment needs
• Building the required culture
• Changes to agreements and benefits
• Improving leadership skills

Financials

• Analysis of profitability versus budget
• Analysis of cash flow
• Review of debtors and creditors
• Analysis of liquidity
• Analysis of financial efficiency (use of assets)
• Analysis of working capital
• Growth analysis

Sales & Customer Service

• Review of sales by product or service category
• Analysis of distribution channels
• Review of distributor performance
• Analysis of quote or proposal conversion
• Identifying new products or services
• Client satisfaction levels
• Customer service improvement
• Client diversification, retention and value
• Reviewing competitors
• Managing product or service complaints
• Product pricing and gross margin management

Marketing

• Improving lead and enquiry generation
• Establishing a referrer program
• Profile building activities
• Reviewing prospecting activities
• Establishing strategic alliances
• Nurturing existing clients

Production

• Supplier management and distribution rights
• Research & development requirements
• Reviewing job profitability
• Asset management
• Improving work flow and productivity

Administration

• Protecting intellectual property
• Compliance to the Trade Practices Act
• Improving efficiency through systemisation
• Improving shareholder alignment
• Reviewing the business model and strategic direction
• Reviewing data accuracy and security
• Threat and risk identification
• Improving time management and delegation

The frequency of the management meetings and duration of the Business Management Program depends on the size and complexity of the business. Raffino advisors are well placed to discuss and recommend a program structure and frequency that will deliver the best outcome for the client.

Clients also receive unlimited telephone access to their Raffino advisor throughout the month to discuss key issues that may arise during day to day operations.

This is a highly structured, hand’s on, roll your sleeves up program, not a talk fest over the phone.