Talk about under-productivity, and an awkward hush settles over the room like a giant, white elephant. Let’s get back to semantics for a second:
Productivity: A measure of the efficiency of a person, machine, factory, system or department in converting inputs into useful outputs
There’s a reason why CFPro Ventures, and our extended specialist partner network have built up years of experience in delivering exponential growth results for those we have worked with: We’ve focussed on building businesses that are agile, can cope with fluctuation, established the right business culture armed with a team of people who are driven to deliver results, and feel valued throughout the process, and helped entrepreneurs and leadership teams get focussed on the right things that complement long-term strategy. And for many of us, the root of the results that we have delivered time and time again, have stemmed from the need to get inside the business – fixing and improving the very operational structure that holds that entire organisation together, so that the results that are delivered can only be positive, productive, beneficial – both for the individuals involved, and the bottom line.
We share a few common areas where SMEs need our help to get inside, to get the results out.
For many SMEs, the period of growth often happens at such an alarming rate that many simply do not have the time, nor the capacity, to develop a functional HR team. We’re not necessarily talking about simply administration, we’re talking about a far more complex function that is core to a solid growth strategy. “The role of the modern HR department is complex: administering benefits, recruiting and developing talent, improving the organisation effectiveness, and helping manage transitions. They’re also a key player when it comes to employee engagement – cited as the number 1 issue by HR professionals, along with company culture, by Deloitte’s study.” – Dora Wang: an employee engagement researcher for TINYpulse and managing editor of TINYinstitute.
In the same way that rapid growth may mean an under-productive HR team, the Finance department is not too far behind, and many may find themselves without a full-time finance leader in the shape of a Finance Director or CFO. Unfortunately, with no proper systems or processes in place, and no clear leadership within the team keeping an eye on the strategic, Finance teams can very get caught up in day-to-day administrative tasks which deflect their attention away from your growth strategy, and instead focussed on non-value add tasks like manually inputting, manipulating data or rekeying information and reporting process. Instead of engaging with the data, too much time is spent trying to make sure the data is accurate – albeit by this point out-of-date.
Teams remain silo’d having very little engagement with the rest of the business. Information is not stored centrally, and clear communication gaps exist between functions – making an overall growth strategy nearly impossible to achieve.
And when it comes to the need to quickly pull information together for critical stakeholder presentations, or business negotiations, any hope of accuracy flies, very quickly, out the window – leaving you with your Achilles heel rightfully, and properly, exposed.
Operational and Supply Chain
Reading through some of the case studies on our own website where our teams have helped to discover radical business turnaround, and growth, one consistent action that has needed intervention in many of these, has been the need for increased productivity throughout the supply chain network and procurement practice within organisations.
“Supply chain visibility certainly is a significant supply chain issue. Getting better information on inbound movements, customer stock, and store shelf inventory will lead to cost savings. But these potential improvements are incremental in nature, not paradigmatic change.” Jonathan Byrnes – Senior Lecturer at MIT and President of Jonathan Byrnes & Co., a focused consulting company.
But effecting change within a supply chain process takes time and inside-knowledge and experience to start re-building, re-shaping and re-producing a supply chain team and process that is productive, measured and accurate – all of the time.
CFPro Ventures believes in a transparent, no- nonsense approach to delivering exponential growth for our clients. To do that, we work with them, getting to the heart of the business, understanding their vision and more importantly, the things that hold them back from achieving that vision. If you’d like to know more about how we do that, get in touch today.