At BMG we try to offer as many possible solutions to small and medium sized business owners as possible. If we do not possess the skills in house, we have a network of partners who assist us in helping make your business better. While we specialize in the management of the organization from overcoming challenges to seizing opportunities, we have partners who specialize in accounting and legal matters who are ready to join our team to help your organization. Our specific, in house, specialty services are listed below.
Turnaround Specialists
We understand that in todays business climate some challenges are beyond the ability of one person or one team to overcome. This is where we come in, we help methodically diagnose your business with our unique ‘Business Diagnostic Tool ™’ to identify areas that are in crisis. Once these areas are identified, we work with you to course correct these areas and get you back to profitability in as short a time as possible. Our tool also identifies areas that need improvement, areas that are weak, and areas that are keeping your business afloat. Armed with all this information we work with you to improve those areas in need of improvement and establish a monitoring system to help you manage your business instead of your business managing you. Additionally, we work with your lenders and stakeholders in a collaborative effort on your behalf to give us some breathing room to make the turnaround successful. The name of the game here is communication, every stakeholder needs to be notified of the situation and what is being done to course correct. Having an outside professional in this situation is key to adding credibility to your efforts in the eyes of the stakeholders. A communication plan is vital to ensure all stakeholders are aware of what is being done, how it will affect them, and when they can expect to see improvement in their situation. While this situation is mainly about you, without the support of your stakeholders, no turnaround will be successful. Contact us today to help you get your business turned around and back on the path to profitability.
Contract Executive
Many small and medium businesses have a need for a senior level executive but lack the resources to afford one. These positions usually command a salary in excess of $100,000 USD and require bonuses and benefits, not to mention payroll taxes and other associated costs that sometimes add up to more than half the salary. In this situation, hiring a fulltime executive to help grow your organization could cost you over $150,000 USD per year. For some organizations this becomes cost prohibitive but is also growth prohibitive, a conundrum that forces owners to continue working for their business instead of on their business.
The solution to this is hiring a contract executive to fill the needed position, help your organization grow, and allow you to work on your business. A contract executive comes at a fraction of the cost. This is a part time assignment, whereby, we work for your organization for a guaranteed number of hours per week, usually 4, and are in essence, your employee. The advantage is that all you pay is our negotiated price per hour, no payroll taxes (your purchasing a service), no bonuses attached to performance, no ancillary costs (i.e. cell phone, car allowance, gas, parking spot, etc.), and no long-term commitment. If we’re not meeting your expectations simply let us go. The idea is to help put you into a position where you can hire a full time executive and replace us. When we approach this scenario, we will help locate an exceptional replacement that you chose. Contact us today to join your executive team and get you back to working on your business.
Operations Improvement
Our operations improvement service is ideal for organizations that would like to get LEAN and MEAN or would like to shave some more cost savings out of their existing processes. We work with you to systematically tackle the operations you choose by using the latest in Six Sigma and Lean Six Sigma technologies. As with any improvement, change is a necessary byproduct, so it is imperative that a plan be developed to communicate to your employees what you are doing, why your are doing it, and how it will affect them. Contact us today to help you improve your operations.
Business Development
Business development is more than just growing a business, it is a continuous process to improve the organization as a whole. Often related to growth, sometimes, however, the optimal strategy and tactics could be downsizing an activity in an existing market or decreasing the sales volume of a selected line of products or services. As a sales and marketing function, business development concentrates on developing strategic-channel relationships or on general sales. Small to medium-sized companies often do not establish procedures for business development, instead they rely on their existing contacts. Alternatively, owners or executives in such companies may assume that because they know people in high places; that this will solve any business-development problems and that somehow new financial transactions will come to them. Such thinking can have significant ramifications if one cannot exploit those relationships, which very often, remain personal or weak. Such a situation may result in no new sales in the pipeline, not a good strategy.
The key responsibility of our business development service is mainly to work with you to define and facilitate core business development activities within sectors identified by or with the you. BMG looks to generate strategies for development and help you implement those strategies for growth. The business development service also looks to adjust expenses in accordance with budgets for each sector identified and design cost-effective yet innovative options for boosting sales. Contact us today to help you with your business development needs.
Business Diagnostics
Our unique ‘Business Diagnostic Tool ™” allows us to systematically evaluate every part of your organization from liquidity to sales, external pressures to the management of the organizations. We use this tool to identify the areas that are in “CRISIS” so that we can help you avoid a free fall into a turnaround situation that could result in closing your business. The tool also helps identify areas of your business that are strong, from this we can assess why those areas are strong so that we may work with you to implement similar processes in areas that are weak or in need of improvement. It is suggested that a diagnostic of your business be run at a minimum annually and preferably quarterly to avoid getting caught in a turnaround situation. Contact us today for your FREE initial diagnostic.
Growth
This should go without saying, but the primary reason you’re in business is to grow and remain profitable. This means making sure your revenues trend up and your expenses do not exceed your income. Sometimes this is easier said than done, we help you ensure this relationship does not get out of hand. Many times, business owners have opportunities that they cannot capitalize on, which leaves them frustrated and miserable. Other times, business owners have challenges that seem insurmountable, again leaving them frustrated and miserable. We help you capitalize on opportunities and surmount challenges by working with you to develop strategies and implement processes that will allow you to work on your business. Contact us today to help you grow your business.
Summing it all up!
If you find that you have opportunities that you would like to capitalize on, challenges you would like to overcome, operations that you would like to improve upon, or worst case scenario, you are in a bad situation with your business and would like help getting out. We advise you to contact us so that we can help you get back to working on your business not just for your business. Alternatively, if you are looking to add an executive to your management team but do not have the resources needed to attract the talent, contact us about our Contract Executive service so we can help you grow. At a very minimum, we advise you have us come in and do a diagnostic on your business, just like you get an annual check-up at your doctors office to check for potential health risks, so to does your business need a check up for potential health risks. Contact us today to help you work on your business!
Bauer Management Group 