JudsonKoman Financial Management Services was established specifically to assist business owners stay focused on their goals and priorities while employing the necessary controls to manage ongoing business performance. Any strategic intent for growth must be matched with an internal awareness of the business’s capability to provide that platform for growth.
The cycle for successful growth as we understand it is as follows:
No logical plan can be created without an appreciation of reality and current financial circumstances. “Gut feel” or intuition is not a strong platform in a dynamic business environment for making plans for growth that may involve hundreds of thousands of dollars. Our tools are designed to reveal the invisible and make the business owner and their team aware of their current financial capability for growth.
Despite business owners understanding the value of a budget, very few successful businesses operate without one. Before executing any strategic plan, it is incumbent upon the business owner to spend some time with their financial team to quantify the cost of their plans for growth. Only with a budget can the owner truly determine whether a plan is being executed successfully or not.
Plans must be monitored on a regular basis and fine tuning performed on any part of the plan not achieving desired results. This can only be done with regular financial information and KPI monitoring. Our services are based around quarterly or monthly reporting of figures to ensure that plans can be considered on a continual basis rather than waiting until the end of a financial year to determine whether the plan has been successful or not.
A review of the results by the executive team serves as the basis for learning and adjustment for future plans for growth. Rather than undertake wholesale programs of change, the business owner may trial a new product or service and gauge the success or otherwise of it to determine whether more investment is required to maximize the profit potential of that offering.
This cycle of growth needs to be supported by a financial reporting system. Our goal at JudsonKoman is to provide all business owners with a system relevant and consistent with their needs.
We use our own range of financial management tools on a monthly, quarterly or yearly basis. These tools include:
- Financial Health Check
- Four Chapter Dashboard
- Financial Scorecard