12Faces.business

Written by: Scott Williams
  • Summary

  • Practical Management Tips for Small Business Owners. Short introductions to useful tools to grow profit and help to address issues as they arise.
    © 2024 12Faces.business
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Episodes
  • NID52: Realistic Small Business Planning
    May 23 2023

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    Most textbook business planning is unsuited to the realities of small business.

    Expecting detailed financial projections in 3 to 5 year's time is totally unrealistic when a small business can barely see 6 months ahead.

    Instead of planning methods developed for large and fairly stable big businesses, we have developed a flexible, low workload, business planning system for small business.

    It is based around a financial quarter GamePlan where you decide what to achieve in this quarter. Generally, a small business can see three months ahead and have some hope of projecting financial data.

    Each quarterly Gameplan has a built in StrategyTree which identifies the 4-6 Critical Success Factors (CSF) that must be addressed for the GamePlan Destination to be achieved. Things like key staff and required revenue. Then the several Necessary Conditions for that CSF to work are identified and factored in

    We then show how to prioritize these Necessary Conditions so you move quickly and thoroughly to the GamePlan Destination for this quarter.

    Next quarter, you look at the current realities and develop a new GamePlan to suit.

    This is simple, fast and structured planning that suits the realities of small business.

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    4 mins
  • NID51 Business Analytics for Small Business
    May 17 2023

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    Just like an iceberg only shows 1/8th of its mass above water, your accounts have many more things they can tell you if you go looking.

    But many analysis tools assume a fair degree of experience and management and accounting training. That's not common with small business owners.

    So 12Faces has developed several tools that can give useful insights to your accounts but are easy to use and understand.

    For example, we have tools for;
    1. working out how much to increase your prices to counteract the costs of inflation in wages and inputs to your business - a Gross Margin Ratio analysis

    2. building a 'model' of the economics of your business that then lets you plug in a proposed change to e.g. prices, revenue or wages to see the impact on bottom line profit. Then you can play with "what if " scenarios in your model to find what works best. We call this ChangeBoard because it measures the impact of change

    3. conventional accounts are a mass of numbers and it is hard to make a great deal of sense of them. Our TrendBoard shows your changes over time in your accounts as graphs. Then you only have to work on the principal "up sloping trends are good and down sloping are bad" to quickly find any trends that might impact on your business.

    Don't wait for your annual tax accounts to see how you turned out for the year. Take control of your future profits with the 12Faces Business Analytics tool kit.


    Transcript of Business Analytics Nugget podcast

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    4 mins
  • NID50 Business Coaching
    May 8 2023

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    It is often hard for business Founders to "brainstorm" business issues with others.

    • Friends and family may not have much business management experience.
    • It might not be appropriate to discuss some topics with staff.
    • Professional advisors can be helpful with their specific skill area but maybe less so with whole-of-business issues like business planning. And they can be expensive.

    12Faces fills this gap with three services.

    First there is our wealth of useful articles and our training packages.

    Second, our Business Diagnostics System helps you identify solutions to problems you feed in. Both of these are like virtual Business Coaches.

    We also have a third service of 1-to-1 live Business Coaching. You use this on an hourly basis with no fixed period or obligation to continue.

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    3 mins

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