Welcome to the Ledge Q&A Interview with Tony Monisse, Managing Director at Brentnalls WA, affiliate member of the Brentnalls Alliance. During this interview we explore who Brentnalls WA are and what business owners can do to support their business growth.
Q: Who is Brentnalls WA?
A: We are specialist business advisors and accountants helping clients grow a sustainable profitable business, achieve their goals and protecting their interests. Our team does this by understanding our clients’ needs and taking a strategic focus in the management of their tax affairs and the delivery of business advisory services. This provides our clients with practical advice and insight to better understand their key numbers to execute their business strategy and achieve their personal and business goals.
Q: Who are your clients and what keeps them up at night?
A: The majority of our clients are WA’s leading SME run by like-minded entrepreneurs, who are keen to grow their business for a multitude of reasons. These reasons vary from business to business and often result from a desire to reduce the risk in their business, achieve financial security, leave a legacy (succession) and prepare the businesses for sale or the owner’s retirement. We have been helping clients for over 25 years and have had a privilege to assist a wide range of businesses achieve their goals by regularly taking them through our Quarterly Business Review (QBR) process.
Q: What is the Quarterly Business Review process you mentioned and how does this assist businesses to achieve their goals?
A: The QBR is a quarterly strategic business meeting with the key decision makers in the business. This is a regular check-up to ensure our clients are on target to achieve their business goals. We review the actual profit and cashflow results. We also prepare rolling four quarter profit and cashflow forecasts and compare the actual and forecast results to the targets included in their strategic plan. Where there is a shortfall in the targets, we look at the impact of different scenarios to help our clients achieve these targets so that they can make informed decisions on their future direction. To bridge the gap between the now and where of the business, we help clients develop specific actions to focus on for the next 90 days.
Q: What should businesses be doing to ensure they are equipped for business growth?
A: Businesses should focus on sustainable revenue and profit growth as well as a positive cashflow. They should also have a clear strategic focus and execution plan for their business strategy together with the alignment of the key management team. This is easier said than done, and by working with the right advisor it can be achieved. I often explain to business owners to imagine no longer being “in the fog”, caught up in daily distractions, but rather having a clear and achievable plan based on forecasts that will help their business achieve their growth targets.
Q: Do you have any specific suggestions on what our clients can do to achieve “quick wins” that will help their businesses grow?
A: The most important thing is to focus on their “where to play” (target market) and “how to win” (sustainable competitive advantage). The other important consideration is to make sure their numbers are accurate, relevant and timely to be able to make informed decisions. We also advise clients to prepare forecasts and ensure that there is an alignment among the key management team on the key actions to achieve these forecasts. If you would like to explore further the key strategies to help a business grow, I have provided a link to a diagnostic tool available on our website. This diagnostic will provide a more in-depth insight into the opportunities and challenges for the business and quickly identify the key strategies for success. From this diagnostic, we are pleased to offer a complimentary session with a member of our team, without any obligation, to discuss the results of the diagnostic and benefit from their experience and expertise in helping grow a sustainable profitable business.
That is all for this edition of Ledge Q&A. Thank you to Tony from Brentnalls WA for taking part and sharing his knowledge with us.
Additional information as discussed by Tony can be found at Growth Profit Cashflow Diagnostic.
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