How Things Happen – Approach, Methods and Business Processes

The way we work together is very different from how you work with your tax accountant –  working side-by-side to provide support, structure and clarity, through informal CFO services that incorporate accounting, business analytics, consulting and entrepreneurism.

Diamond Advisory cut through the geek-speak and actually focusing on your goals and plans.

The approach, methods and processes are designed to ensure you and your business achieve the best possible results.

I have helped start, grow, and sell many successful businesses, and each business maturity phase has its own challenges. Your projects are designed with the business cashflow in mind and vary from a couple of days, to complete business overhauls.

  • Profit Accounting
  • Business Analysis
  • Risk Management
  • Strategic Planning
  • Coaching

The Approach

Focus only on useful business advice for increasing profit

These skills and traits have been developed during 30 years of working with SMEs. They do not come easily and are used to deliver SMEs the kind of accounting that transforms business.
Every engagement touches on one or more of these elements, to ensure you receive exactly the right information and advice you need to improve your business.

  • Practical, and relevant, advice with easy solutions
  • Processes mapping and efficiency improvements, quality reviews, pricing reviews, contract reviews, business cases
  • risk analysis, identification and reduction
  • Budgeting, forecasts, cashflows, monthly reporting, cost minimisation

You truly can Increase Profit, Unlock Cash-flow, Optimise Growth and Realise Business Success

Diamond Advisory take a down to earth approach to targeting specialist CFO advice for your SME

The Methods

True success comes when like-minded people are on the same wave length and working towards a common goal.

Whether you choose a business debug, a check-up, a tune-up or a total business renovation, you will be benefiting from various tools and models to assess, implement and deliver the changes you need to improve your business success.
A successful business as one that is continually:

  • Releasing Cashflow
  • Increasing Profit
  • Optimising Business Value
  • Exploring Opportunities
  • Managing Risks

We work together with these four points in mind, because a great business is one that maintains a great balance.

Increasing Profit

Fundamentally business is for making a profit – if you are not doing that you are a charity!

Profit is what is left in your business after you complete your sales and pay all your bills. Increasing profit is not about shuffling money to avoid the tax man, or generating more customers it is about improving how much you, as the business owner, get to keep at the end of every day – it is what increases your wealth! Your wealth and that of your business underpins your success.

ie the more profitable your business is the more you get to keep both annually and also the more your business is worth should you decide to sell.

We can increase your profits in a multitude of ways starting quick wins and progressing to longer term strategies when you require:

  • changes to sales pricing and margins – how can you optimise these?
  • changes to processes and systems – how can yours be more efficient and effective to assist and support you better?
  • changes to costs and resources – where can costs be cut and expenses saved in your business – have you benchmarked your competitors costs?
  • changes to your reporting – are you receiving the right information at the right time to make the most profitable and successful decision?
  • changes to product/service quality – how can yours be better than your competitors (maybe for the same price, maybe with a price change)?

Managing Risk

In addition it is critical we reduce risk in your business. Our delivery processes are undertaken with the strictest governance in mind. Ensuring your risk is being minimised at all points of the Processes. All engagements reference our for quality, change management, risks and knowledge management.

Exploring Opportunities

Practical Advice – useful advice needs the right context, and also needs to be able to be implemented practically – quickly and at low cost. Therefore our approach is twofold:
a) consider all the areas that are affecting the problem by evaluating business drivers and levers.
b) benchmark all advice against well know performance management strategies and best practice.

When working with clients there are a variety of methods and models; some free demos and pro-formas of these can be found in our Improve section, or you can also find them in our shop.

Releasing Cashflow

Cashflow is King without it all business becomes difficult, so this is usually the place we start with.

Taking a much more holistic approach than simply “make more sales” we examine all 5 areas of your business:

  1. staff
  2. systems
  3. processes
  4. customers
  5. suppliers and inventory

to ensure cashflow change is sustainable. I am passionate about ensuring you have fabulous cashflow and could go on here for hours, instead we suggest you check our Blog which has more than 15 articles about improving cashflow, as well some free resources. If you have cashflow issues, we have easy, straightforward solutions.

Optimising Business Value

All of these activities improve the saleability of your business, and you can also make sure you business is prepared for every opportunity – you never know what is just around the corner. From revealing hidden value, tidying the accounts and shoring up your foundations you can always be best dressed at the Business Sales Parade.

We tailor and agree your work assignment by assignment,

Some clients choose to work with us for only one or two steps, and others loop from beginning to end repeatedly increasing your business maturity and thereby your business success

The Business Processes

Steps used for guaranteeing your success

Whether you choose a check-up, a tune-up or a total business renovation, to guarantee you a successful outcome, you receive standard project management principles throughout, either directly or in the background.

We tailor and agree your work assignment by assignment, as some clients choose to use our expertise to simply identify issues, or tune-up a specific area, while others prefer a full business revamp or a long term relationship and loop from beginning to end repeatedly increasing business success.

The process for your engagement can be big or small – depending on your needs, but will probably look something like this:

  1. Examine – understand your goals and objectives then assess and analyse your past performance, investigate trends, and assess issues and areas needing a bit of extra love
  2. Explore – run a set of ‘what if’ scenarios to show you how very small changes can make a major impact
  3. Prioritise – agree your priorities to create a “plan of attack”
  4. Design a smart solution – starting with easy wins develop practical solutions that fit your budget and your time-frame
  5. Align – create and agree a project plan to keep you, and your staff, on track
  6. Implement – provide all the advice and support you need to implement your plan
  7. Test – confirm growth, improvements in profit and cash-flow are as expected to ensure you achieve your objectives
  8. Maintain – measure and manage ongoing outcomes to embed ongoing sustained success and enable incremental improvements

The amount of assistance you need from beginning to end is totally up to you.

As a Member of CPA Australia I am bound by the Professional Standards Act. The overarching aims of a national regime are to improve professional standards compliance with high standards of quality assurance, risk management practices and disciplinary procedures, as well as required levels of professional development, ensure greater transparency and public accountability applies.

Quality Assurance

Quality Assurance is the planned or systematic actions necessary to provide enough confidence that a product or service will satisfy the given requirements.

Being CPAs and a registered public practice, quality assurance is a mandatory part of our requirements; as a Member of CPA Australia our firm is subject to tri-annual Quality Assurance Reviews – where the standard of our work and work processes are assessed, scored and approved by third party reviewers.

Risk Management

Risk Management is the ability to reliably achieve outcomes you want, and to equally reliably prevent the outcomes you do not want.

At heart, risk management is the Processes of making conscious decisions about appropriate levels
of risk. Ownership, accountability and overview are the cornerstones.

Strategies then need to be developed to manage the identified risks. This involves three types of strategies:

  1. Contingency Strategies: Bringing down to acceptable risk levels, risks of higher consequence but lower likelihood of occurrence.
  2. Preventative Strategies: lower consequences but higher likelihood of occurrence.
  3. Monitoring Strategies: both the likelihood and consequences are relatively low this covers both standard safeguards and ongoing review.

Where an area is identified as posing unsuitable levels of risk we work with you:

  • Design risk measurements and metrics
  • Risk assessments
  • Detailed risk analyses
  • Risk reporting
  • Issues risk management
  • Event capture and loss estimates
  • Risk mitigation planning
  • Risk acceptance

All risk management processes align with legal and regulatory requirements and include or link to relevant activities such as privacy, information security assessments, continuity of business assessments, and business impact analysis.

Change Management

Change Management is an systematic approach to transitioning from a current state to a desired future state.

This is system and process aimed at helping staff, management and sometimes people external to your business (such as clients) accept and embrace changes in your business environment so your business can move to be more successful.

You also receive a project management process wherein changes to your engagement, that might arise as we progress are formally introduced and approved by you before progressing.

Change Management is a communications piece that overlays the actual tasks, milestones, outcomes etc that are undertaken as part of the engagement. For more information read this blog on project management traps.

Knowledge Management

Knowledge Management is the explicit and systematic management of vital knowledge – and its associated Processes of creation, organization, diffusion, use and exploitation – in pursuit of business objectives.

Your knowledge encompasses both tacit knowledge (in people’s heads) and explicit knowledge (recorded and saved as information in databases, documents etc.).

Many programmes start by focusing on the thrust of better sharing of existing knowledge e.g. sharing best practices. However, if you cannot link the activities to the achievement of business goals, then it is not real knowledge management.

You get leveraged value through knowledge management because we also focus on:

  • Customer Knowledge – the most vital knowledge in most organizations
  • Knowledge in Processes – applying the best know-how while performing core tasks
  • Knowledge in Products (and Services) – smarter solutions, customised to users’ needs
  • Knowledge in People – nurturing and harnessing brainpower, your most precious asset
  • Organisational Memory – drawing on lessons from the past or elsewhere in the organisation
  • Knowledge in Relationships – deep personal knowledge that underpins successful collaboration
  • Knowledge Assets – measuring and managing your intellectual capital

Solutions will vary from client to client, need to need, and project to project; regardless you receive maximum benefits and value.

Client Experiences

The advice is invaluable and makes the whole process so much easier for me.
D Greenwood
Eve is not a dreary or pointed-headed accountant – she is fun to be with.
M Hollands
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Increase your business profit by using this practical business advice; releasing cashflow, and growing business value and success.
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