Next steps with your client

So, you’re now implementing with your Client their first Runagood® Action Plan. You chose ‘Budgeting and Forecasting’ as there was neither a financial crisis nor an organisational mess. But there is a need to get their finances under better control and thereby raise profits and reduce debt. So, this is the Method that starts the journey.

Begin with the bookkeeping system by designing a chart of (management) accounts that reflects individual product sales and the associated direct costs of each, monthly. There may already be such a template in the system but if not, adapt the Runagood® template and load it.

Your next step is the most important you’ll ever take because you’re going to ask your client for 12 monthly forward sales and costs for each product line. And they are most likely going to tell you it’s not possible. So do it yourself based on last year and present it for approval. It won’t be good in the first year but far better that the nothing that preceded it!

And given the financial skills needed for this Method use Consultancy as the Implementation approach to take. It’ll cost the client a bit but only for the 3 months it will take to get it working. Then you can back down to Coaching.

In my next post I’ll deal with how to get Budgeting and Forecasting developed into Management Accounting production.

Practical stuff from AI Business Advisor®