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"Having the HMcR team assist us in our analysis of our business is a great process!
Andrew, Paul, Geoff and Nick have been not only helpful but encouraging in setting
plans for our future. Whilst the whole process is daunting our decision to work with the team was the right one, as they have inspired us to work towards achievable goals.'"
Sandy and Phil Candy have been operating their canvas fabrication business as Candy Canvas for over 20 years manufacturing swags, bags, seatcovers and traytop campers. As they started to consider succession planning and retirement they identified the need to develop a 10-year strategic plan for the business. While they have a lifetime of business experience, they didn’t quite know how to go about it.
The husband and wife team started working with HMcR approximately 8 years ago, having been referred by another trusted service provider. They have worked with both Geoff and Andrew at different times, and regard them as business coaches, not just accountants.
While they had been working with HMcR for some time, they did go out to market and reviewed three proposals. Phil states “we choose HMcR based on proven outcomes over the years and knowing they will be with us into the future”.
Andrew guided the Candys (including their son Rick, now an integral part of the business) through the strategic planning process. It was a confronting, and at times, arduous process; examining how they do things, reviewing processes and procedures, and identifying areas for improvement and change.
The process involved HMcR surveying staff and management, analysing financials, preparing a marketing audit and empowering the Candys in an intensive day and a half workshop to review their business. Sandy advised that some of the results were quite confronting however they were pleased to gain a clearer understanding of their business.
Phil advised “we learnt a lot from the workshop alone, undoing a lot of knots there and then, even before moving onto our action plan”.
Key valuable outcomes of the process were identifying and prioritising tasks to achieve their vision, with agreed ownership and timelines of actions. With Phil and Sandy on the road attending various tradeshows and events throughout the country, achieving a realistic action plan was half the battle.
While the plan is set, much of the strategic work now has to be done. Andrew helped to provide Candy Canvas with the momentum, confidence, clarity and excitement they needed to move forward. Phil, Sandy and Rick believe that the key benefits of this process were:
• Understanding opportunities previously unconsidered
• Updating their structure to help maintain a better profit margin
• A clear path to achieving their objectives
With their new structure and strategic direction, Phil, Sandy and Rick look forward to a better profit margin, not to mention peace of mind that they are heading in the right direction.