McKinley Plowman & Associates

Industry Benchmarking

The key component of a successful business is the resourcing of up to date market information.

At McKinley Plowman & Associates we have access to leading Industry Benchmark Statistics.

Industry Benchmarking provides essential information on the industry within which your business operates, and provides a vital tool for measuring and planning for the growth of your market share.

A competitor analysis and comparison can be undertaken to establish how your business is placed within the current market. It also allows for strategies to be developed to cement and develop this standing within the industry.

Key performance indicators of the industry can be highlighted and used to illustrate areas of weakness and strength within your business.

By utilising this information effective strategies can be developed to overcome your weaknesses and enhance your strengths. The areas of focus include gross profit, personnel productivity, expense optimisation and asset management.

Key Performance Indicators

This business development technique allows you to look beyond sales and profit and investigate the determinants of your profit situation. We can measure numerous financial and non-financial data and generate reports and graphs that provide insight into why you are experiencing success or indeed inhibited growth. By pinpointing specific areas of your expenses and other running variables we can produce valuable information on your business that you can actively use to achieve an increase in profit.

cfo2go

If your business is new, undergoing change, growth or restructuring, then McKinley Plowman & Associate’s cfo2go division can make a positive difference.

Formed in May 2009, the cfo2go division enables business owners to call on the services of external rather than in-house Chief Financial Officers (CFO).

Driving business owners to thrive in the post boom environment, cfo2go is showing clients how to implement production efficiencies, generate savings and drive growth and innovation.

Offering accounting, financial planning, finance broking and mentoring, the cfo2go team provides clients a full-time professional focus for a part-time cost.

A major advantage of cfo2go for increasingly cost-conscious business owners is the ability to access a broad range of professional financial expertise with the one budget.

cfo2go also provides an interim measure for companies who need regular access to professional advice but are concerned about making a major financial commitment to employ a full-time CFO in-house.

cfo2go’s professional framework is shaped by the core goals of achieving asset protection, accommodating future growth and tax minimisation.

A cfo2go’s role can include mentoring, attending board meetings, developing and implementing business plans, reviewing business structures, conducting financial and tax planning, succession and scenario planning.

Our broad spectrum of users, which hail from media, financial, retail and manufacturing backgrounds are challenged to take a different perspective towards achieving their goals.

Small to medium enterprises (SMEs) are shown how to implement the sorts of systems larger businesses have – something which significantly improves business performance while also giving the business owner more personal freedom.

Clients find they initially require intensive assistance from this division, however this is often reduced to fortnightly or monthly strategic management meetings down the track.

Projections

At McKinley Plowman & Associates we use the most advanced forecasting software to provide your business with vital information to ensure the growth and success of your business.

Forecasts and cash flow statements can be drawn up highlighting various "what if" scenarios, enabling an evaluation of potential outcomes and the provision of appropriate solutions.

These forecasts play an essential part in the development of planning and management strategies.

Our services also include the provision of multi-year integrated forecasts of Profit and Loss, Balance Sheet, Cash flow, Funds Flow and Ratios & Statistics.

An important feature of this service includes the comparison of actual figures against budget estimates. Variance reports can be produced to highlight important areas of focus and ensure that market growth is maintained.

Profit Optimiser

This service allows you to experiment with different scenarios and input this information into a database to produce reports that provide strategies on how to achieve your desired goals or overcome your current problems. Firstly a problem is defined and a goal is set. This information is entered together with your current data and adjusted to reflect the scenario you are proposing. Reports will then be generated providing valuable information on how to achieve your targets and overcome your problems by offering goal seeking strategies and problem diagnostics.

Business Plans

Part of every successful business involves the implementation and adherence to a formal business plan. At McKinley Plowman & Associates we work with you and your individual business needs to develop an innovative and specialised business plan.

Our unique approach to business development combined with our commitment to the education of business management has culminated in the development of successful and innovative business plans.

Please click onto one of our example business plans below or call our office today for more information on how we can help take your business to the next level.

Start-Ups and Due Diligence

It is vital when considering the purchase of a new business venture that you possess accurate information that reflects the true market circumstances of the business venture you are entering into.

Armed with the correct information and shrewd business negotiating skills you will be able to realise all of your business goals.

At McKinley Plowman & Associates we offer start-up and due diligence services that equip our clients with essential market information. We also offer our services as business negotiators and advisors giving you peace of mind during the negotiation and purchase process. When you are purchasing an existing business the following start up and due diligence steps are carried out in a strict order to ensure you incur minimal costs should the proposed venture not proceed.

Firstly we conduct a general review of the business that you are interested in. This is necessary to determine all the factors that are involved in and affect your chosen business. From this analysis we determine a reasonable asking price. This process in itself involves a thorough analysis to ensure that the price you pay reflects the true market value of the business.

The negotiating process can be a daunting one, and at McKinley Plowman & Associates we offer our services in this area. We can complete the initial verbal negotiations for you, and by utilizing our experience in this area you can be guaranteed that we will endeavour to obtain the best possible purchase price for your new business.

Following confirmation of verbal negotiations we can work in conjunction with our recommended solicitors to draft up the purchase contracts and review any leases. At this stage further negotiations may be necessary and we can continue this process for you until the final purchase price and contract conditions is established.

The next phase of our involvement consists of providing financing options and advice on the most appropriate methods for your circumstance. We can arrange this process on your behalf enabling a smooth transition of sale. We will provide assistance in choosing the appropriate finance structure and liaise with banks on your behalf.

Where you are starting up your own business from scratch, our start up procedures will begin at the financing stage and do not include the following due diligence work.

The next and most important step where you are purchasing an existing business is the undertaking of the due diligence process, which involves the verification of both financial and non-financial information provided by the vendor. This can be carried out in conjunction with us or we can undertake this process exclusively, the choice is up to you. Should we discover anomalies, further negotiations on price will be entered into with the vendor.

We welcome your participation in this area to enable cost minimization to be achieved on your behalf.

Whether you are purchasing an existing business or you are commencing to start your own, the next procedure that is carried out is discussion on the most suitable business structure to use. This may take the form of a sole trader, partnership, company or trust. We will highlight the advantages and disadvantages of each organisation and guide you to the most beneficial choice based on your individual circumstances.

Once your business structure is decided, we will assist you in the setting up of your entity and the establishment of effective administration, running systems and procedures to stimulate growth. The initial areas of focus will include:

• Record keeping
• Employment of staff
• Business Activity Statements & GST
• Financing
• Tax Planning
• Deductions
• Pricing Strategies
• Marketing
• Banking

Business Mastery

Business Mastery is a 12 month program and is a practical means of obtaining access to global best business practice. You will be able to interact with other like-minded business owners, and learn the secrets of the true business masters. You will also be provided with assistance in implementing ideas into your own business. The Business Mastery program equips you with the knowledge of an MBA in a fraction of the time and provides you with one-on-one mentoring from an experienced consultant.

For more information please click here. (PDF File - 7.46mb)