The Numbers Game: Unleashing Business Potential

As an accountant I am bound to say that numbers play a pivotal role in determining success. Every decision, every strategy, and every action is ultimately measured against a set of numerical metrics, providing insights into the company's potential. While qualitative factors undoubtedly influence business outcomes, it is the quantitative aspect that provides a tangible framework for evaluation and improvement.

Consider the fundamental elements of business success:

Income,
Profit,
Customer satisfaction,
Employee engagement, and
Market share.

These metrics, expressed in numerical terms, serve as benchmarks against which a company's performance can be assessed. By analysing these numbers, businesses can identify areas for improvement, track their progress towards their goals, and make informed decisions that drive growth.

Let’s look at these in a little more detail an how Wood and Disney can help you use your numbers to Build a Better Future.

Income

Income generated from sales or services, stands as the primary financial indicator of a company's health. A positive trend in revenue indicates that the business is attracting customers, meeting their needs, and generating value. Increasing revenue is essential for expanding operations, investing in growth initiatives, and ultimately enhancing profitability.

How Wood and Disney harness the power of your numbers to unleash income growth.

Assuming you aren't a start up business, you already have a customer base. We look at sales trends and customer behaviour. Could you increase how much and how often your existing customers spend money with you? Wood and Disney use their own tried and tested business growth toolkits to look at expanding your business. What are the future growth opportunities in your current business? Should you be considering buying another business? How are you going to fund your growth? Could you add to your product range? What's the next big thing in your market? Are there any gaps/niches you could fill?

Profit

Profit, the difference between income and expenses, represents the financial reward for a company's efforts. A healthy gross profit margin demonstrates that the business is operating efficiently, generating sufficient gross profit to cover overhead costs and produce a surplus. Profitability is crucial for sustainability, allowing companies to reinvest in their future and provide returns to shareholders.

How can Wood and Disney help you leverage your numbers to boost profits?

Wood and Disney breakdown and analyse your existing accounts using a series of tools that we have developed to identify areas of potential improved profit and cash flow. We take you through a series of “What If?” scenarios using your figures to show you the impact on profit and cash flow of changing pricing, costs, overheads, supply chain… We model the scenarios using your real time data and your business environment to help you understand and give you confidence in the decisions you make.

Customer Satisfaction

Customer satisfaction, measured through surveys, feedback mechanisms, and repurchase rates, gauges the level of contentment among a company's customer base. Satisfied customers are more likely to become repeat buyers, spread positive word-of-mouth, and contribute to long-term revenue growth.

Are your customers happy with your service and products or could you do more?

Wood and Disney set up systems and structures to monitor and control the key areas of your business, including customer service metrics so that you can measure your customer service targets, bench marking performance. We advise you on the technology that will help you to achieve these goals including CRM and performance measurement technology. Leveraging technology is currently where the most successful businesses are spending their money.

Employee Engagement

Employee engagement, assessed through surveys, interviews, and performance metrics, reflects the level of motivation, commitment, and enthusiasm among a company's workforce. Engaged employees are more productive, innovative, and customer-centric, contributing to overall business success.

Your people are your most valuable asset.

In most businesses your team are your biggest asset. Wood and Disney talk to you and your team and develop an action plan to equip your business with the people and skills it needs to adapt, change and achieve your business targets. We also look at the knowledge, skills and experience you have built up in your team and work with you and them to leverage that human asset to build a stronger business that is mutually beneficial by rewarding staff and security into the future.

Advice Wood and Disney have given most recently to clients includes:

Involve members of staff in a discussion of likely trading conditions and get their input on maintaining revenues, new products and services or re-targeting existing products and services.
Encourage team members to suggest ways to streamline and simplify processes (e.g. sit down and brainstorm about efficiencies and cost reduction).
Reviewing staffing needs over the next few months.
Employee commitment: Pull everyone together and explain the business strategy and get their buy-in.

Market Share

Market share, the percentage of a company's sales compared to the total market sales, indicates its position within the industry. A growing market share suggests that the company is outperforming competitors and expanding its reach.

Wood and Disney help you make data driven decisions to increase your market share.

Wood and Disney set up systems to monitor and analyse your performance in your market:

We use your data and analytics to measure and evaluate your performance against your targets, to measure your market share and the effectiveness of your strategies.

We use financial "what if" tools combined with market data to study scenarios for pricing strategies to ensure you price your products or services competitively.

We make sure you understand your target market and look at differentiating your products and services.

We look at the growth opportunities in your current business. Should you be considering buying another business? Could you add to your product range? What's the next big thing in your market? Are there any gaps/niches you could fill?

Harnessing the Power of Numbers

Businesses that effectively utilise data analytics and numerical insights can gain a competitive edge. By analysing sales trends, customer behaviour, employee performance, and market dynamics, companies can identify patterns, predict outcomes, and make data-driven decisions that optimise their operations and maximise their potential.

The Wood and Disney Difference

Most accountants are merely recorders of historical information with the sole intention of working out how much tax to pay. Wood and Disney however have been harnessing the power of numbers for decades to help our clients build future proof businesses and leave a legacy for the next generation.