Business Growth Consulting | EXES Strategy Consultants

FAMILY BUSINESSES

When you support a family business, you support a dream

Our main services

"Family firms are crucially important for Europe. They make a significant contribution to Europe's GNP and employment, and tend to be great innovators, with a longer-term vision. They also tend to be firmly rooted in their regional and national culture, displaying the sort of European values that we all share."

JOSE MANUEL DURAO BARROSO, PRESIDENT OF THE EUROPEAN COMMISSION

Family businesses are a fundamental component of the european economy, accounting for approximately 75% of all businesses in Europe. Nonetheless, family businesses especially small to medium sized, usually do not receive the necessary attention and support both from the public and the private sector.

At EXES we understand the challenges family businesses face and the effort required in running a family business. In response to these challenges, we have developed tailor-made services for small and medium sized family businesses. Our aim is to assist family business owners and family members to achieve their business goals and ambitions thus increasing their family wealth.

Our main services are

FINANCE
GROW
PERFORM

I. FINANCE

DESCRIPTION

Our Financial services for family businesses are:

i.Raising Finance

ii.Loan Restructuring

iii.Cash Flow Forecasting

iv.Budgeting Analysis

v.Performance Reviews

An important ingredient for any family business to endure -especially through economic crises- is good financial management. By the term good financial management we mean the careful examination and accurate analysis of the company’s financial position as well as implementation of specific actions required to improve the company’s financial position.

BENEFITS

Implementing good financial practices will provide reliable financial information and result in informed management decisions
Good financial management will ensure the business’ viability and future development
Good financial management can result in continued growth and increased profitability

At EXES we assist family businesses to:

Raise new finance in order to take advantage of opportunities in the market place and grow
Restructure existing loans to minimize instalments or re-size them to fit the company’s ability to pay loan instalments
Forecast and manage their cash flow needs especially when cash flow is tight, the business is seasonal or cyclical in nature or when a business uses extensively post-dated cheques
Prepare budgets and set specific targets. Simply put, companies that do not have specific targets rarely achieve their goals
Review their company’s performance in order to identify improvements, take corrective action in time and take advantage of opportunities

Results:A newly set up company raised adequate finance for profitable growth

The Challenge

A newly set up family company wanted to import white goods but it required a substantial amount of finance in the form of bank guarantees and loans.

Our Solution

The initial project was the preparation of the annual Cash Flow Forecast, analysed on a monthly basis. Based on the Cash Flow Forecast we applied to two banks for the necessary finance.

Followig the agreements with the banks, our monthly work included:

Preparation and monitoring of a short term, eight week cash flow forecast
Monthly performance reviews including the preparation of management accounts
Regular meetings with the banks to discuss progress and liquidity requirements
Set up targets and incentives for the Sales Department
Discussion and analysis of organizational issues

Punch line

The newly formed company raised sufficient finance to become viable and import the necessary volume of white good products that would allow its profitable growth.

Results delivered

In an industry with low margins, the newly formed family company raised the finance that would allow it to become profitable and grow. Frequent cash flow forecasts allowed the company to identify and resolve possible cash flow constraints early and take advantage of special offers by suppliers.

II.GROW

DESCRIPTION

Our Grow services for family businesses are:

i.Growth Strategy - Development & Implementation

ii.Sales Outsourcing

iii.Marketing Outsourcing

iv.Sales & Marketing Outsourcing

v.Customer Relationship Management

vi.Customer Satisfaction Surveys

Each and every family business is unique and it has its own strengths and weaknesses. Therefore its path to growth should be tailor-made. The most distinctive characteristic that differentiates the ability of a family business to survive and grow, is its leadership and the cohesion of the family members involved in the business.

BENEFITS

Identify and win more customers
Increase sales and profitability
Become more competitive and gain market share
Create a strong and customer centric organisation

At EXES, we have designed a service line for family businesses that includes the best practices required to grow a family business. In more detail, at EXES we assist family businesses to:

Develop and implement their growth plan based on the unique characteristics of the business and the family managing it
Increase their sales through outsourcing a part of the sales process including the identification and assessment of prospect customers
Increase their sales through outsourcing part of their marketing process including setting up customer databases, sending out newsletters and utilising social media
Improve the effectiveness of their sales process through the selection, set up and maintenance of Customer Relationship Management software that would allow the company to control the sales process and grow its clientele
Improve customer retention through the measurement of customer satisfaction

Results:A family retail company grew from two to seven branches

The Challenge

A family retail company with two retail outlets set up an ambitious growth plan which required a radical change in its sales and organisation philosophy.

Our Solution

The initial project was preparation of a five year Business Plan to set out the goals of the company’s owners. Following the approval of the business plan, our monthly work included:

Design of a new company structure, with job descriptions and responsibilities
Hiring of key staff including the Sales Manager
Development of a new internet site
Implementation of new Customer Relationship Management (CRM) software to monitor sales and the company’s sales pipeline
Organisation of monthly management meetings
Identification and successful negotiation of an international franchise
Organisations and participation in bi-weekly sales meetings

Punch line

The family-owned retail company grew from two to seven stores within three years and tripled its turnover.

Results delivered

Over a period of three years, the company grew from two to seven retail outlets, changed its organisational structure, set up a Sales Department and managed to triple its turnover.

III. PERFORM

DESCRIPTION

Our Perform services for family businesses are:

i.Independent Business Review

ii.Business Turnaround

iii.Organizational Chart

iv.Business Processes

v.Staff Performance Reviews

vi.Staff Workshops

Running a family business is a challenge in itself! A successful family business requires besides a customer oriented strategy and strong leadership, the commitment of all employees –both family and non-family members – as well as clear organizational structure, functional-operational procedures and performance metrics.

BENEFITS

Improve company performance through better organization
Improve company performance through identifying weaknesses and increasing operational efficiency
Increase company turnover
Higher staff satisfaction

At EXES we assist family businesses to:

Identify their main areas for improvement through Independent Business Reviews and then assist them implement the changes
Turn the business around from making losses to generating profits after thorough analysis of the business and implementation of the required changes
Design and implement a new organizational chart and job descriptions
Re-design new business processes to improve their customer experience and become more efficient
Appraise staff providing the right incentives to high performers and lifting the productivity of low performers
Monitor staff satisfaction and motivate staff through staff workshops

Results:Re-organisation of a family food importing company

The Challenge

The family company imported quality food products but there was no clear organisational chart and responsibilities resulting in operational issues

Our Solution

The initial project was the preparation of the annual budget on a monthly basis. Following the approval of the budget, our monthly work included:

Analysis and evaluation of the performance of the company activities on a monthly basis
Design of new organizational chart and job descriptions
Organisation and participation of bi-weekly management meetings
Organisation and target setting of the Sales Department

Punch line

The new company organisation and the close monitoring of the company’s performance by the management allowed the company to become more effective and profitable.

Results delivered

The management monitored the company’s performance more closely through target setting and became more responsive through monthly management meetings. The new organisational structure resulted in clear responsibilities and improved accountability. Overall, the company became more efficient and more profitable.