Strategy

Why have a Business Strategy and what is Strategic Planning?

As well as being more successful, businesses that have a clear strategy, regularly carry out business planning and measure results also tend to be more resilient to shocks and better able to evaluate and take advantage of new opportunities.  Many businesses benefit significantly from external help from a business consultant, or a business advisor and UK Business Advisors have extensive experience in helping SMEs.

The scope of strategic planning can range from a high-level strategic business plan through to detailed strategies and plans for areas like products and service development, customer satisfaction, target markets, finances, people & resources, digital technology / digital transformation, productivity, production, business continuity, investment, sales and marketing, channel partners, exit planning, family business succession planning, innovation and research & development. The overall strategy can be an umbrella for more coordinated detailed planning in the most important components of the business.

There is no one correct method. An entrepreneur who is planning how to start and fund a new business has different priorities to an established business making a business plan to achieve strategic goals. A business plan for small business can be relatively simple and a long-term growth strategy with new product development, manufacturing efficiency, and a significant business pivot to change direction can be much more complex.

Strategic management consulting is a grand term often used by the business management consultants in the big 4 firms (Deloitte, KPMG, PwC and EY) and goes with substantial fees. The extensive experience of UK Business Advisors recognises that most Small and Medium Enterprises benefit from a much more pragmatic approach to strategy consulting and business consulting and this is what we offer.

UK Business Advisors have specialists that provide support to Charities and 3rd sector organisations that require strategic help. This can take the form of specific advice for a period of change or ongoing business coaching to maximise the impact of your organisation.

Business Strategy Review

High performing businesses review their strategies and business plans regularly and measure progress and performance so corrective action can be taken where required.  The strategy should align with the company vision, goals and objectives or there will be disconnects.

UK Business Advisors have extensive experience in helping companies with strategic planning and business strategy. We often help with board level strategic planning reviews where our independence and experience can add significant value. Board level advisory services is a part of what we can offer – this can be in the form of ongoing independent support or working with you for a specific project and all the shades in between. We can act as a “Virtual Non-Executive Director” to facilitate, support and challenge.

UK Business Advisors have developed review processes to help companies evaluate all aspects of their operations before embarking on business planning. This gives executive management a clear indication of areas for improvement and priorities to be incorporated into business planning and long-term business strategy.

Mergers & Acquisition, Business Exit and Family Business Succession

For ambitious companies, mergers and acquisitions can be an important part of the overall growth and value enhancement strategy. It is of course critical to have a clear strategic view of the reasons for considering M&A. It may be to add complimentary products and services to your portfolio, it could be to enter a new geographic market, or potentially to acquire resources or technology that your business requires. It also critical to have a post-acquisition and integration strategy to ensure that the full business benefits and synergies are gained.

For many business owners an exit strategy is extremely important. Where this involves a company sale, owners and directors often leave this process far too late and miss the opportunity to build company value prior to exiting. Typically, the process will take 3 or more years to execute and should be built into strategic thinking before that. Putting out the lights when you are done is not normally a sensible exit strategy! Working with UK Business Advisors will help owners to maximise value, prepare to make themselves dispensable and evaluate the many different types of exit, for example sale to management, sale to trade, and family succession.

According to Oxford Economics Family Businesses made up 86% of all private sector businesses in 2020, employing 13.9 million people and generating £575 billion in GVA (contribution to the economy). Family Businesses can have complex dynamics and challenges that don’t exist in other businesses. We have experts that can advise on maximising business value and succession planning.

Why work with us for Strategy Consulting and Business Planning

Our Business Advisors have extensive experience of practical strategy and management consulting tailored to the needs and budgets of SMEs. Many have worked for top consultancy firms; most have run businesses, and they all understand need for SMEs to have a practical approach that delivers results without complexity and unnecessary cost.

We recognise that the experience and capability in your business is an asset that needs to be carefully nurtured for maximum benefit and the achievement of your strategic goals. Working with key members of your team will usually be essential and we can help ensure that the business strategy is effectively communicated to staff and business partners as this is critical for success.

UK Business Advisors cover the whole of the UK from the diverse economic concentration of London & South East, through the Wholesale/retail, Science, Administrative. Construction, ICT, Real Estate, Service, Accommodation, Health, Manufacturing, Transportation and other sectors in the Thames Valley, the South West, Wales, Midlands & East Anglia, the Northern region and Scotland.

We can work in person or remotely to suit your needs.

Contact UK Business Advisors to learn how our strategy experts can help you with developing winning strategies and plans for your business.