Created: Dec 29, 2018 2021 07:38 AM
Joyce Hayward from Fusion 4 Business and Lennox Cumberbatch from Abacus (Photo provided)
A lot of companies have a strategic plan, but the sad reality is that very few actually execute them.
“Sometimes implementing the strategic plan gets a little overwhelming for small business owners,” said Lennox Cumberbatch, accountant at Abacus Ltd on Reid Street in Hamilton. “They know exactly where they want to go, but the sheer amount of things they have to do to get there becomes intimidating and then there is procrastination.”
In February, he teamed up with Joyce Hayward of business consulting firm Fusion 4 Business to host Transformational Advisory, a 12-week workshop that helps companies move their ideas forward.
Mr. Cumberbatch has been involved in external audit and internal accounting for over 20 years.
“In my current role at Abacus, I do more than just bookkeeping,” said Cumberbatch. “Because of the companies I work with, we have indeed had the opportunity to be operational advisers as well. It’s really putting what I’ve been doing over the past four or five years into a program format.
Ms Hayward said that both Abacus and Fusion 4 Business have offered consultancy and advisory services over the years, but not in a formal way.
“We thought we could bring our collective expertise together and help people through a program,” she said.
The workshop is aimed at small and medium-sized entrepreneurs, in business for three to five years, who feel blocked or who wish to increase their growth or profitability.
Mr Cumberbatch said many similar programs target much larger businesses and small entrepreneurs may feel left out.
“We are targeting companies that want to do something different in 2022,” Cumberbatch said. “It will really provide them with strategic support in making decisions, looking at their processes and how we can improve those processes and resources to increase productivity and efficiency. “
Ms Hayward, also an accountant by training, said that as accountants they think it’s all about finance.
“Whether the company decides to hire someone or changes paper, it impacts their numbers,” she said. “We look at the business holistically. We see it as consultants versus accountants.
There will be six modules covering the analysis of client needs, setting goals and priorities, developing a strategic plan and developing an action plan.
Ms Hayward said it helps bounce back the ideas of someone experienced in business.
“It can help them guide them that way,” she said. “We can say that this does not seem like a good solution for your business. Or we can say from our experience that it has worked for businesses similar to yours.
She said now is the time of year when many business owners are thinking about the year ahead.
“People think a lot about this time of year,” Ms. Hayward said.
The first cohort will start on February 3. Classes will take place every Thursday from 8 a.m. to 10 a.m. for 12 weeks. The cohort will be repeated at least two more times throughout the year.
“There will be an opportunity for people to take certain modules if they feel they are doing well with some things but need help with others,” said Hayward. “But we recommend the twelve.”
The cost is $ 9,000 for the full program, with a $ 1,000 discount if you pay during registration.
“It’s an investment,” Ms. Hayward said. “Participants will use this information over and over again. The evaluations they obtain can be used each year. They can also come back for a refresher course.