New Business Plan Analysis & Projections
A reoccurring, real-time analysis of firm performance and projections.
- 1 hr1 hour
This step in our "system" may be the most powerful. Here, we routinely track what is happening in the firm in real-time, at a frequency the firm is comfortable. We will take this real-time data and use our proprietary formulas to project results for your desired timeframe. We will compare these projections to your firm's goals, analyze the variances, and collaborate on adjustments, should they be necessary. This process is great for making sure your business plan is coming together as designed. As things happen outside of the plan, adjustments need to be made. Throughout a firm's lifetime it is inevitable parts of your plan will not go accordingly. Some typical examples are staff will being hired and fired, raises and bonuses, under and over performance related to hours, cases and collection rates. As these things happen, it is important to check the plan and see what adjustments need to be made, which we are here to help you with. Historically, this has been a place where we go to run hypotheticals as well. It is here we see if it would be wise to adjust the plan. Some typical questions we like to ask and input are: When Hiring a New Employee: Are we hiring at the right price? Is our desired individual margin still there at our offering? If we go up in price to get the employee, how much does that hurt our margin? Do we have them billing enough hours at this bill rate? What does this hire do to our overall bottom line? When firing an Employee: Are we losing money on this employee's performance? What does this employee's departure do for our revenue goals? Do we have the capacity to make up their hours if the loss in revenue is significant? Who might fill that void? What does their departure do to our costs? Is the savings significant? Is this firing worth it, financially? These are just a fraction of the questions this tool and process can answer for you. It is good to know the answers before you decide. Doing things this way makes tough decisions much less stressful. The best way to ensure a plan is going accordingly is by auditing it frequently. By auditing and analyzing regularly gives your firm the best chance of maintaining and maximum profitability.
4695 Macarthur Court suite 1100, Newport Beach, CA, USA