SPIN REVIEW

Let’s get you moving in the right direction

  • Situation – Understanding where you are now is very important and is often the reason you have come to us in the first place
  • Problems – what are they? Could be cashflow, behind with accounts and tax, or just feeling overwhelmed and disorganised
  • Implications – What are the implications if the problems are not addressed? Worst case is usually you will go out of business
  • Next Steps – What are the next steps WE need to take to begin to turn things around

Spin Review

Step 1
Brainstorm

Brainstorming is crucial to successful problem solving. Involve all the stakeholders to fully identify the real source of any problems in your business, note, staff are often the ones who see where the biggest problems are.

Step 2
Understand

Fully understand the problem, do a real deep dive, where does it start, why does it occur and is the problem you are seeing just the result of a problem earlier in the system or process.

Step 3
Identify

Identify the solutions. Ensure they are practical and ensure you have on board the people delivering or you are destined to fail. Ensure that your solutions do not impact on other functioning areas of your business.

Step 4
Lead

Coping with change is one of the most difficult things, whether it is implementing new software or systems. You, as the business owner must be strong and lead through this period. If you have done setp 1 properly it will help.

Step 5
Do

This may sound obvious but why take the trouble of completing steps 1 to 4 and not actually implement? It does happen and it may feel easier to revert to old habits. Don not do this

IMPLEMENTATION

Cloud
Accounting

Debtor
Chasing

Automated
Invoice Entry

Reporting Key
Information

Retail
Systems

Apps for
Efficiency

Systems should never be undervalued, time and money saved by virtue of having the correct systems can be channeled into other parts of your business, growing sales, marketing or investing in your team.

MEASUREMENT

“If you cannot measure it, you cannot improve it”

Lord Kelvin

What would be the point of the SPIN review if we did not go back and compare things to how they used to be? Running a business should be about perpetual improvement.

In addition we would also strongly advise that you identify your Key Performance Indicators (KPI’s), the ones that really drive profit.

We have sophisticated reporting tools which can be plugged into your online accounting program which can give you the information needed to make better, more certain business decisions.

Key performance Indicators

PRODUCTS

Many Accountants just provide accountancy services, your year end accounts and tax returns, and many clients just want this.

However, when you do need something different, wouldn’t it be great if you could approach your accountant who could connect you with some trusted businesses best suited to deliver what you need? Well we do just that.

Whether you need a better energy deal, insurance or are aware that your Health and Safety is not up to scratch we can connect you to trusted partners that can help.

You, our client are always at the core of what we do, and of course we do the usual compliance functions, but over and above that we offer a whole range of services through our tried and trusted network.

Financial Business Model

PRODUCTS

Compliance

  • Annual Accounts
  • VAT Returns
  • Payroll

  • Personal Tax

  • Corporate Tax

  • Sole Trader Accounts

  • CIS Subcontractors

Added Value

  • Business Growth
  • FD Function

  • KPI Reporting

  • Company Formations

  • Cash Flows & Forecasts

  • Succession Planning
  • Cloud Accounting & Technology
  • Business Streamlining
  • Systematisation

Partners

  • Human Resources
  • Health & Safety

  • IHT Planning

  • Wills

  • Powers of Attorney
  • Investment Opportunities

  • Financial Advisers

  • R&D Tax Credits

  • Energy

LEGACY

For you and your family

Many people go through life without even making a will. This is incredibly important when you own a business and even more so when you have children. We can deal with basic planning through our partners as well as complex Inheritance Tax IHT planning.

For your Business

Like personal planning, many business owners have no idea what they will do once they “retire” there are options, perhaps key personnel would want to buy the business, so too a competitor. You may just want to wind the business down. Whatever you want to do it is important at least to just think about it.

EXIT

Switching Off

At some point, there will come a time when you will have to switch off for good, hopefully this point aligns with your own personal goals. For some, growing a company and selling it is the retirement fund, some people have aspirations to retire at a certain age.

In reality it is different for everyone, indeed, personal goals can change as we go through life, maybe due to circumstance, bad but hopefully good business decisions may accelerate the time you switch off.

Whatever happens, it is important to give it some thought, and to ensure that when you do switch off, you have the financial freedom to do the things you want to do.

Contact Beresfords today and make your accounting

  • 01303 850992
  • mail@beresfordsaccountants.com