Business Analysis

Consulting Activities > Business Analysis

When involved in Business Consulting Process JMN Consulting to provide a comprehensive evaluation considers important to undertake following steps:

 

1. Learn about the business

2. Identify problems

3. Identify future opportunities

4. Perform analysis

5. Provide solutions through a concrete plan

6. Listen to feedback and adjust plan

7. Implement and track the plan

 

 

Step One - Learning About the Business

 

• Tour the Company's facilities;

• Read relevant company materials;

• Meet with the Board of Directors, executive heads, founders and owners, department heads and

  key employees, company advisors and consultants;

• Understand the product or service;

• History of the business;

• Business track record;

• How the business is run, namely (I) How decisions are made, (II) How problems and opportunities are handled,

  (III) Company process, trademarks etc.

• Company's competitive advantages;

• Financial track record;

• Banking and finance connections;

• How the company is organized quality control (International Standards);

• Employee incentives, benefits, and wages.

 

Step Two - Identifying Problems

 

• Problems seen by ownership and management;

• Problems / issues identified by the business consultant;

• Business consultant given unrestricted access to the company so that problems can be identified;

• Identify revenue points and expense ratios for all products and services;

• Understand tax implications.

 

Step Three - Identifying Opportunities

 

• Put in place an implementation plan of opportunities identified by management and key employees;

• Identify opportunities discovered through the business consultant's process;

• Understand margins, sales history, and sales growth;

• Understand and identifying new products and services.

 

Step Four - Analysis

 

• Analyze the identified problems and opportunities;

• Decide which problems and opportunities are important and which are less important;

• Identify potential future problems;

• Identify root causes of problems.

 

Step Five - Solutions

 

• Provide adequate plans of action which provides solutions and identifies opportunities;

• Illustrate how certain expenses can be reduced and how certain profit areas can be maximized.

 

Step Six - Receive Feedback and Adjust Plan

 

• Receive feedback from the business and its advisers on the proposed Business Plan;

• Oversee implementation of the business plan;

• Track progress of the plan;

• Readjust plans as necessary moving forward.