Overview
Urban Plumbing & Gas is based in Adelaide and employs 20 people. I was engaged by business owner, Tyson Odgers, in 2016 to create strategic plans to help the business grow.
The Situation
Owner, Tyson Odgers, was aware some parts of his business were underperforming and he was open to a green shoots conversation with me about how to weed out bad practices and plant the seeds for new growth.
We agreed to work together on a financial diagnostic, business and strategic plan.
My approach is about:
Data-led analysis
I used financial analysis and benchmarks to diagnose the business problems for Urban Plumbing. Again, a quick win was to change the layout of the financial statements, to tell a story about how the business is performing. This helps Tyson and his management make better and more informed decisions.
Engaging the business
Following the business diagnostic, I facilitated a business planning day and worked with Urban Plumbing to create:
- Financial budgets
- Sales and marketing driver plan
- Productivity and efficiency plan
- Work forecast
- Client grading
- Quote register
- Employee review process
These plans are excellent communication tools to inform and educate team about the businesses goals and how to achieve them.
Ongoing coaching
I meet with the owners and their management team monthly. Managers prepare KPI reports for the meeting and receive a copy of the company’s financial data. Engaging managers in financial decision-making is critical because they learn the financial impact of their decisions, including hitting or missing sales targets and expenditure.
The Results
- Revenue has increase by 80 percent
- Net profit has increased by 20 percent (more than 20 percent of total revenue)
- More efficient business operations from having clear systems in place
- Clearer financial reports to support decision-making
