Belmatic Industries
Grow sales and avoiding the cash flow rollercoaster

Client:         Belmatic Industries

Project:       Business Review and Strategic Growth Plan

Situation

David and Ann Strutt bought the business in 2005 after having been employed by Belmatic for many years.

With solid business fundamentals and a commitment to satisfying customers, Belmatic has built strong relationships that generate repeat sales. However, with too little marketing and a high level of exposure to the automotive sector, the company experienced a sales downturn during the GFC. The company wanted to rebuild sales and recognised the need to reduce cash flow volatility.

Task

Our role in this assignment was to help our client to:

• Grow sales revenue and profits, by better understanding how the organisation creates value for its customers and how to communicate this effectively to the market
• Convert profits to cash through better management of debtors and working capital
• Understand what the company does well and what they needed to improve, particularly in the critical areas of marketing strategy, management skills and business processes

Outcomes

• Business Strategy Review identified the critical success factors for growing prosperity
• Strategic Business Plan identified 3 clear avenues for growth of sales and profits
• Marketing Plan defining how to find, attract and satisfy more customers
• New process for on-line orders that will create up to $250,000 in cash flow savings and reduce debtors days
• Equipment Strategy to increase production throughput and the value of the business

“Early in 2009 Belmatic needed assistance to review the business, and make a plan to move forward in a rapidly changing commercial environment. Our biggest problem was finding the right person and ensuring we didn’t end up with a pile of reports that, while relevant, weren’t practical nor able to be implemented. When researching where to get assistance, we found the Victorian Government’s “Grow Your Business” program, through which we received both a grant and an introduction to Chris Thomson. Within a few days of working with Chris we were reassured we had found the right person to work with us on this project. Within weeks Chris had conducted a comprehensive review of our business – identifying both our strengths and the factors constraining our ability to grow. Chris led us through a well structured strategic planning process, creating a multiple-stranded plan to increase sales, improve cash flow and build the capital value of the company. We are now making that plan a reality. We have come through this programme gaining much needed and valued knowledge that will be used to continue to grow our business. As part of that on-going commitment to implementation and review, we are consulting with Chris on a monthly basis as our mentor, guide and sounding board.” David and Ann Strutt, Owners and Directors, Belmatic Industries Pty Ltd

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