Randall & Payne’s top tips for successful business growth
Five tips to successfully grow your business post pandemic…
1. Thoroughly understand your market – know your target customer, your competitors and market dynamics, understand what best practice looks like, and ensure you have real-time data/knowledge at your fingertips.
2. Create free cash flow to invest in future growth – identify cost savings, improving product margins, look at how and when you invoice, offering discounts for early payment or even a price increase, check if you are eligible for R&D Tax Credits.
3. Decide how you will compete in the market – ensure to remain relevant and add-value to your customer proposition, differentiate your product from your competitors.
4. Create an effective operating model to deliver growth – look at all areas of operations; production, supply chain, procurement, finance, people skills and capability, customer service, and process throughout.
5. Measure performance – it’s surprising how many businesses don’t measure their KPIs across all areas; financial, efficiency, competitor advantage, customer service, fulfilment, to show continuous improvement.
With over 50 years combined experience helping businesses achieve their goals, Will and Paul have teamed up to provide support for FMCG businesses to help them through the pandemic. Together they are hosting a free-to-attend webinar and will identify opportunities for dynamic businesses looking to change, provide insights to help build resilient growth plans and financial forecasts that will be beneficial to long-term success after this crisis.
For the very latest retail, digital and food and drink insights, trends and analysis and to take away top tips on what you can do to protect your business and adapt for future success, book your tickets to attend ‘What’s ahead for the UK Consumer Goods industry – 2021 and beyond’, which takes place on Thursday 25 February at 12:30 – 1:30pm.
To find out more about the webinar and to book your place visit: https://www.eventbrite.co.uk/e/whats-ahead-for-the-uk-consumer-goods-industry-2021-and-beyond-tickets-135746012979
About Will Abbott, Partner at Randall & Payne LLP
Will Abbott has been solving strategic problems for Gloucestershire businesses for over 25 years, improving their planning, processes and people to deliver profit, growth, value and competitive advantage. Will has won national awards for his client projects and is pleased to be working with progressive business owners who are taking the opportunities identified from Paul’s insights into the consumer goods sector.
About Paul Drabble, CBG Ltd
Paul’s career spans over 25 years; creating new business growth strategies for consumer companies worldwide. He has worked for and alongside many of today’s most recognized companies including Cadbury Schweppes, Coca-Cola, Ferrero, McDonalds, Shell, Tesco, British Airways and Exxon Mobil. Recently, Paul has helped over 150 retail, digital and food and drink SMEs grow their business – winning several industry awards along the way.
Randall & Payne have been trading for over 140 years. Based in Cheltenham and employing 50 people, they offer a range of accountancy services, including tax, business advisory, accountancy, auditing and corporate finance, with successful clients across multiple sectors.
