The Value of Business Diagnostics

Corporate Strategy
Written By Vignes Rajagopal

For many SMEs, a constraint on growth is the difficulty for its key decision makers to prioritise their daily workload into those areas which have the most significant impact on growth. Owners often spread themselves too thinly across every aspect of the business, forgetting the key areas which create the greatest output. This can be resolved by the application of something known as the Pareto principle, which asserts that 80% of outputs can be derived from 20% of all causes or inputs.

Diagnostic Workshop

But how do you identify the 20% on which you should focus your maximum energy? This is where Dragon Argent can help. We carry out diagnostic workshops with key decision makers of our clients, doing a deep dive into 36 key growth/value drivers, assessing the current state of your business across five key categories:

  1. Business Development

  2. People

  3. Delivery

  4. Finance

  5. Strategy

Proactively identifying the gaps in your performance is vitally important to raise the value of your business. The earlier this can be addressed, the earlier business growth/value can multiply and compound, resulting in a potentially huge effect in any future business sale or investment round.
 
Taking the time to step away from the day to day running of your business to honestly and accurately assess your strengths and weaknesses is a hugely valuable use of time.  It will inform every decision and action you subsequently take, ensuring you are getting the maximum impact from your efforts. 

Post Workshop

Once the workshop is carried out, a report will be prepared summarising the key issues, implications, priorities, and actions that have been diagnosed. In almost all cases, the conclusion of the workshop is that a good number of action points are agreed upon unanimously as required to address significant weaknesses within the businesses key areas.
 
The carrying out of such a workshop will also help Dragon Argent to better understand your business when carrying out our core legal, accountancy, and advisory services, deepening our relationship and the strength of our services.

We firmly believe that this helps us to stand out from other legal and accounting firms. Does your accountant really get under the bonnet of your business and help drive its growth? Are they a trusted advisor or simply a necessary service? As a growing business ourselves, we are empathetic to the needs of SMEs, and have the tools to support you on your journey.
 
The Time is Now

There is no better time to undertake this initiative than now; off the back of an extremely turbulent year and ahead of 2021 when we all hope for more growth and prosperity.  In order to maximise the potential of the next 12 months, it is crucial to have an accurate understanding of where your business is, its strengths, weaknesses and opportunities.    

For a free consultation on how we could help you to rediscover focus and growth momentum in your business heading into 2021, please get in touch as we would love to help.

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