Every company’s goal is to grow, but sometimes growth comes at such a fast rate that processes and procedures become outdated and efficiency suffers. When that happens, management has to be open to change and be willing to adapt.
One such example comes from a construction client of GGFL partner Anne Van Delst. The company had two divisions and grew their revenue in one of them from $2 million to $6 million in one year. They were thrilled with the success, but they were not properly prepared to deal with the resulting administrative increases. No one really knew who was supposed to be doing what and things were not getting done on a timely basis.
“The way the company operated was not going to work anymore,” explains Anne. “We discussed ways they could proactively adapt to the sizable growth and maintain a high level of performance.”
Anne, along with the rest of the GGFL construction team, created a monthly checklist designed to assist management in improving the quality of internal reporting, as well as to formalize the processes that needed to be reviewed on a monthly basis.
“We believed this checklist would be ideal for this particular client,” explains Anne. “We introduced the concept and they were willing to give it a try because their current system was, admittedly, insufficient for the company at its new size.”
While the client was managing all its customer needs, the business simply didn’t have the in-house resources to take care of things internally. The GGFL checklist helps clients to ensure processes are completed on a timely basis, to track tasks, and it offers a way for the employees and management to document issues. It’s also designed to improve accountability because staff are required to sign off on completed tasks and results.
“The checklist approach has proven successful for several construction clients,” says Anne. “No two companies are exactly the same, so we customize things for each client’s specific situation so they get the results they need.”
Contact our Business team for strategic advice and tax planning solutions.