Want to Solve your business problems, or Simply Sell up?
5X Consulting are a global, multi-sector network of seasoned business professionals.
We like to ensure that we are the right fit for your business by adding real value every step of the way.
Book a FREE discovery call or complete the assessment HERE to see the benefits of working with us.
Business Transformation Specialists
We work with you to solve your business problems, identifying the areas of your business that require immediate support. Our objective is to address all your challenges and assist you in tackling these, in order to return to growth. Whether your business is facing financial, operational, marketing, sales/business development, or technological challenges, we are here to provide support throughout the project.
Business Mentors
As business mentors, we serve as trusted, independent advisors, partnering with you to establish the future direction of your business, explore new opportunities, or simply provide a listening ear to understand the pressures you face. We only work with businesses that are committed to working with us. It’s a matter of trust and reputation.
Investors
As investors, we actively engage with business owners through direct investment and providing access to tailored funding solutions in order to meet their specific needs. Our experience has shown that financial restructuring often resolves most businesses financial challenges.
Business owners often dedicate their efforts to managing the day-to-day operations, rather than focusing on strategic growth. We focus on working with business owners to identify and implement strategic solutions that drive long-term growth and profitability.
If you’re considering selling your business, we offer a stress-free, streamlined acquisition process that can help you achieve your financial goals.
What are the next steps?
Identify the cause of the decline in your business.
Was it a problem with Finance, Marketing, Operations, Sales, Technology or is it due to another event (i.e. a health issue, retirement, an unsuccessful sale) and you are now just looking to move on with your life and exit from your business?
Here are some of the recent examples we have experienced, but there are more.
FINANCIAL:
Whether your challenge lies in cash flow, profit margins, investment, or over-trading due to a focus on growth, you’re not alone. Experiencing one or more of these issues is a fairly common occurrence for business owners throughout the business lifecycle. Many find themselves overwhelmed by the complexities of their finances, unable to see the clear path forward.
Running a business can be lonely and mentally challenging, especially when finances are stretched. You may be balancing loans, overdrafts, and personal guarantees, making impulsive decisions to keep creditors at bay to avoid negative consequences.
Do you proactively manage the business cashflow?
MARKETING:
Frequently, clients venture into “pay-per-click (PPC)” advertising, only to burn through cash. Others continue to advertise in trade journals or exhibit at trade conferences simply because their competitors do. Over the year, we’ve observed the misalignment between sales and marketing functions, resulting in unfulfilled sales leads due to either a misunderstanding of customer needs or a lack of recognition of the lead value and therefore lack of action by the sales teams.
Perhaps it’s about knowing your customer and tailoring marketing efforts to your target market? Your website and social media may need to be reviewed and updated? Marketing should communicate to the client what you do and why they should choose you.
When was the last time you measured your return on investment (ROI) for your Marketing expenditure?
OPERATIONS (Including HR):
Over time, and unless carefully managed, business owners can accumulate hidden costs that can continue to be a drain on the business funds.
Perhaps your suppliers were selected over time, based on a friendship, rather than good commercial terms and it feels easier to avoid having difficult conversations.
You may have difficulties recruiting the right people or holding onto your best people. The job market is candidate driven and it’s difficult for companies to attract talent, unless they have a unique offering.
Many businesses have poor policies and procedures. It is not unusual for these to be non-existent. Preparing these requires an investment of time and this is not always easily available. Perhaps you don’t see the value of these documents?
Have you recently reviewed your supplier contracts, to see if they are still competitive and offering value for money?
SALES:
The lifeblood of your business is the generation and closing of new sales opportunities. Closing sales and delivering exceptional customer service fosters repeat business from existing clients. These behaviours demonstrate genuine commitment to the company’s success. While this concept may seem straightforward, achieving this perfection is a complex undertaking.
Do you have too much business exposure with too few clients?
TECHNOLOGY:
With the rapid advancement of technology, businesses now have access to a wide range of powerful tools that can enhance efficiency, streamline processes, and boost productivity. Solutions that were once prohibitively expensive are now available for businesses of all sizes, however, complexity, huge choice and competent implementation can be daunting.
When was the last time you carried out a review of your IT and Telephone systems?
EXITING YOUR BUSINESS
Most business owners are too busy working in the business. They have not had the time to plan their exit. They may believe that someone will come along with a cash offer for their business when they decide to sell it, yet the vast majority of business owners do not achieve a successful sale and, 12 months later, the business remains unsold and hope of finding a buyer evaporates, with the inevitable result that the business falters. The option for too many business owners will be closing the doors for good.
It doesn’t have to be like this. We want to help you avoid this scenario and preparation is key to a successful outcome.
Business owners who are struggling with their businesses often become so engrossed in day-to-day operations that they lose sight of alternative solutions which can deliver similar outcomes, without giving up on their desired outcome.
We buy businesses from owners who are looking to exit. We can typically finalise the purchase significantly quicker than third-party or trade buyers, eliminating concerns about deal fatigue or sharing your business’s secrets with your competitors.
Ask yourself the following questions:
- Is my business ready for sale?
- Who would buy my business?
- Why would they buy my business?
- What is my exit plan?
- What do I need to do to achieve this?
- How am I going to survive?
- What help do I need and from whom?
- Is my business totally reliant on me?
If you need advice, support or answers to any questions, please get in touch with the team at 5X Consulting and book a FREE discovery call. Alternatively complete the online assessment here and receive a FREE personalised business status report.