For the last few years 4x4 and More have been supplying 4x4 automotive accessories, parts and servicing to 4x4 retail and trade enthusiasts mainly across Western Australia.
In late 2010, following a refinancing of existing funding arrangements, it became apparent that Tom & Kate (part owners) needed to invest some time and effort into developing a plan for the future.
Business Life Plan
"The workbooks and questionnaires made us think about many aspects of the business that we had not previously considered".
4x4 and More engaged Tactica to develop a detailed Business Plan. The structured planning process involved significant input from Tom & Kate including completion of detailed workbooks and questionnaires. These documents were instrumental in providing key information for the day long workshop which was facilitated by Mark & Daniel from Tactica Partners.
As Kate says, "The workbooks and questionnaires made us think about many aspects of the business that we had not previously considered. The workshop was truly engaging (and mentally exhausting) as we worked our way through various issues and key points of discussion".
"The Business Life Planning Process facilitated by Tactica has helped start our journey to building a better business sooner. Dealing with Tactica has been an eye opener to us... they are much more than just your average accountant".
Tactica Partners were able to provide 4x4 and More with a concise business planning document that not only provided a summary about where the business was at but also provided a vision of what the business could look like going forward. Areas covered by the plan included:
- Business Summary
- Services/Offering - Value Proposition, Competitive Comparison
- Human Resources
- Customer Description
- Market Summary
- Business strategies re pricing, promotion,sales etc
- Financial summary re historical projections, cashflows etc
- Business Valuation
- Lifestyle Goals
- Issues/Opportunities Register
- Action Plan
As Kate and Tom explain, "We thought we were busy working hard in the business but now realize that we were only scratching the surface. The Business Life Planning Process facilitated by Tactica has helped start our journey to building a better business sooner. The Business Plan document has not been assigned to the bottom shelf but rather sits on our desk as a 'live' reference point to help us achieve our business goals".