The decision to hire a consultant for your manufacturing and distribution business can be a difficult one to make. There are many factors or aspects within running this type of business that can be hard to navigate. However, The Shealy Group’s trusted consultants have the knowledge and experience to guide you through. If you are unsure whether or not you need a consultant for your manufacturing and distribution business needs, how you answer these questions may help you decide.
Are you confident in the accuracy of your revenue and expense reporting?
If not, a consultant can help to assess and your current revenue and expense reporting, identify places for improvement, and create a plan of action to take control of your reporting.
Do you understand your balance sheet and cash flow statements?
No? A consultant at The Shealy Group can work with you one on one to better understand your balance sheet and cash flow statements now and going forward. We believe that educating our clients is the best way to guarantee success!
Do you know your receivable/payable turnover ratios?
Understanding these ratios is very important and can help you to better assess your company’s assets and liabilities. Our consultants have years of experience with analyzing these numbers and helping businesses to make adjustments that better benefit them.
Do you know your inventory turnover ratio?
If you do not know off hand your inventory turnover and what this ratio means in terms of your business and success, we can help you gather a comprehensive list of your inventory and calculate the days it takes to sell this inventory to give you an accurate ‘inventory turn’.
Are all your internal processes documented?
Without proper documentation, your internal processes can be lost in translation between company leadership and team members. Having clear, documented processes cuts down on confusion for those trying to decipher on their own what your internal processes are intended to be. A consultant at The Shealy Group can help you create the documentation needed to streamline your internal processes.
Do you have a current succession plan?
If you currently do not have a succession plan, it is important to consider creating one with the help of a consultant. We can review your family goals and establish an in-depth plan that mitigates risk and establishes long-term security.
Accounting Director and Consultant for The Shealy Group, Sue Bennett, states that these questions are the most important to answer, not only when making the decision to hire a consultant but throughout the life of business ownership.
“Having a solid grasp on the current state of your business, your processes and where you want your business to go is the key to success. If you aren’t sure where you are or where you want to be, The Shealy Group can help you sort it out and give you confidence in yourself as a member of leadership and the business going forward.”
- Sue Bennett, Accounting Director and Consultant
If you're not comfortable with your answers to any of the questions above or if you feel that your current business practices are in need of an upgrade, let us help you! Contact one of our trusted consultants by phone at 419-524-2875 or by using our online form to take the first step in receiving an Honest Assessment of your current practices from us.