Lifecycle of a Trades Business
Most Trades businesses need help and advice as the business transitions the various stages of its lifecycle. The business challenges change due to many internal and external factors including Market conditions, Financial pressures, Legislation & Risk, Operational and Team issues.
Our clients engage us to assist them with growth, systems & processes, restructuring, winning more work, marketing, reducing risk and achieving more financial success. However, our first step prior to structuring our improvement solutions is to fully understand the current life cycle stage of the business.
The enclosed illustration demonstrates the various Lifecycle stages of a Trades business. Any Trades business can be categorized into one of these stages and the improvement solution needs to be specific to the current situation.
Some potential improvements for each stage below:
Nightmare Phase & Survival Phase
- Improved financial management
- Understanding and improving cash flow
- Assistance in marketing the business and winning work
- Improved estimating procedures
- Job management improvements
- Work Health and Safety legislation
Growth Phase & Scale/Systemize Phase (all the above plus:)
- Employee Cost management
- Business planning
- Business workflow
- Employment Contracts, forms and documents
- Employee engagement & Performance
- Fair work guidance
- Managing Teams
- Supply chain management
The Successful Phase
Things are working well, however now is the time to refine the business and consider further growth and potentially Exit planning.
The Tragedy Phase
This can be a complex stage and a wide range of solutions are available for the business owners. Many of our services are suitable to solve the business issues and get the business back on track.
Please contact Trade Advisory Group to discuss how we can assist you in your business.