Supplementary Services
Beacon Business Advisors help business owners with tailored Business Services in St. Augustine, Jacksonville, and all around Northeast Florida!
Unlock Your Business Potential
We understand that every business is unique and different. That's why we offer a range of additional services tailored to meet your specific needs, from Pivot Planning and Exit Strategies to Contengancy and Workforce Planning.
Pivot Planning
Pivot Planning in business can take many forms and most often involves a tweak or fundamental change in a product, service, industry, markets served, or an owner's personal goals and objectives. In all cases, a Pivot involves change and must be supported and well-communicated by the owner of a business.
A small business owner may need or choose to “pivot” their services, products, or markets served for a number of reasons. Pivot Planning can be a second phase of a Contingency Plan borne out of an unforeseen change in circumstances or a change by choice in how you do business, whom you market to, and what you market. In both instances, the effectiveness of your pivot will be heightened by an organized Plan, just like any Business Plan.
Additionally, if your pivot is a change to your historical business model, it is important to understand how it will be supported internally and received externally, as well as how it will impact your base business.
Contingency Planning
Business Contingency Plans are backup plans or strategies prepared to allow small business owners and their employees to respond effectively to unforeseen events materially impacting their original business plan. Having a strong Plan B in place will allow your business to act quickly to resolve the risk of unplanned negative developments and protect the future of your business.
Contingency Plans can be developed for multiple risk scenarios. They should be ready, waiting, and familiar to business owners and their employees. They provide peace of mind. We will work with you to identify all potential risks that might impact your business. Their likelihood and impact (financial, operational, and business value) will be weighed, and we will then work with you to develop Contingency Plans for each of the top risks. Each Contingency Plan will define the risk, take action event, checklist of action items, and who will be responsible for the Plan and its overall timeline.
Workforce Planning
Workforce Planning can be described as the process of enabling an organization to have access to the resources and workers it needs to perform effectively, both now and in the future.
Workforce Planning’s objective is to have the right people in the right jobs at the right time. This happens through understanding your current workforce capabilities, evaluating future scenarios, defining your desired workforce, and then taking the necessary steps to align the future workforce with that desired workforce.
The Value of Workforce Planning includes improved onboarding, employee retention, optimizing expenses for needed skills, minimizing risk, and finally building a future-oriented company. These all lead to a positive work environment, greater efficiency, and a motivated workforce.
A Workforce Plan aligned to your Business Plan goals and objectives should include:
-
Defining the current workforce and the objective future workforce by function and skill set
-
Identifying talent gaps within your current organization
-
Defining a clear statement on “why we do what we do” for employees, not just “how we do it.”
-
A review of the workplace environment, daily pace, efficiencies, and organization status
-
Creating Job Descriptions, clearly defined roles and responsibilities
-
Creating a broadly understood Organizational Chart
-
Preparing job postings for open or new positions
-
A succession planning template for use in reviewing employees and defining career paths
-
A review of employee benefit programs in place or to be considered
Exit Planning
An Exit Plan defines a business’s long-term goals and provides a Roadmap for a smooth transition to the next stage in your business’s ownership, leadership, or direction.
Exit Planning is often overlooked until an owner decides to sell or even shut down their business. It is important that the short and long-term goals and objectives that drive your annual business planning align with the business direction you require in order to achieve your Exit Plan or Strategy.
A good Exit Plan safeguards Business Value and improves the predictability of your operations today.
Your Exit Plan will be a key component of your overall strategic business plan. Beacon Business Advisors will work closely with you to design a plan that will provide positive financial results along with:
-
A smoother and more efficient business sale process
-
Assist business brokers early in the process
-
Provide banks with a far more attractive situation to provide buyer financing vs seller financing
-
Allow for a smoother transition post-sale with less need for interim consulting or hand-holding
*All Exit Plans must have a recent Short Term Forecast in order to provide the most current financial information.
