Joining Jonathan Goldhill in this episode of the Disruptive Successor Podcast is Perry Trevithick, CEO at Scaling Up Coaching. Small businesses need to perform strategic planning if the objective is to sell the company. Perry recommends all small companies to first determine the company's core values to build a company culture, which is the sum of all the people hired, is aligned with these values. He gives practical advice on how small companies can start, such as regularly reviewing your financial statements. When Perry works with clients to clean up processes, they get to see a PNL that actually makes sense and determine the areas where they are leading and lagging.
HIGHLIGHTS
04:15 CMA vs CPA: A question of being strategic vs tactical
09:07 A love for small businesses and preparing them to sell
11:23 Strategic planning to sell: Start with core values and culture first
16:16 Everyone benefits by having a second in command
19:30 Review your financial statements regularly and identify your ideal customer
25:16 Increase sales: Optimize leads, conversions, and average dollar sale
28:25 Working with clients to clean up processes and make the PNL make sense
34:08 Profit acceleration tools: Revealing to clients their earning potential
36:04 Connect with Perry
QUOTES
07:27 "The finance person should be strategic. They should be a key part of creating the strategic plan and the OKRs and the KPIs to measure progress and helping push the strategic plan down to every employee in the company."
13:31 "Start off by defining the organization's values and beliefs and then I would say hire people, use that in your hiring process, just to make sure that the people you hire are aligned with those values and beliefs."
15:36 "Culture helps you implement your strategic plans. So you define your values and beliefs and then you create a one, three, five, seven (year plan), depending on the timeframe, but short term and long term strategic plan goals."
25:48 "Lots of times, you can increase sales between 50 and maybe six or seven times by simply optimizing leads and conversions and average dollar sale."
35:49 "Cost-cutting is somewhat limited, but revenue generation is kind of limitless. So focusing on the marketing side is going to be the quickest way to add value."
To learn more about Perry, you can check out the links below.
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