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Advice from Perth-based Business Advisors about Unlocking Business Growth
Are you finding that despite hard work, your growth is stagnant and profit margins are under pressure?
Many business owners, CFOs, financial controllers and managers face the challenge of balancing urgent operational demands with the need to build a strategic, long‐term growth plan.
At Munro’s, our Perth-based team of experienced business advisors understand that unlocking profitable growth isn’t just about chasing numbers—it’s about addressing the fundamental challenges that hold your business back. Our growth advisory service helps you identify hidden obstacles, implement proven strategies and build a roadmap that aligns with your company’s culture and purpose.
Unlike traditional business advisory, we don’t typically run a workshop and leave you to implement change – we work closely with you to solve your problems and deliver real, sustainable outcomes.
When you’re ready to talk about what we could do for you, please book a meeting or send an enquiry.
Problem 1. Stalled Growth
Stalled growth can be a killer. Research has shown that 54% of companies fail to regain even moderate growth within a decade of a revenue stall, and when slow growth persists for more than 10 years, the delay is most often fatal.
Solution
Strategic focus with a distinct brand and winning sales process.
Outcome
Improved and viable sales growth.
Read Key Points & Transcript
Fix Stalled Business Growth: Strategy, Branding & Selling More
video key points
- Chronic problems, not crises, often lead to a business’s downfall, necessitating a focus on solving these recurring issues to prevent bottlenecks in business growth.
- As businesses expand, misalignment among teams, especially leadership, and increased competition in the market can stall growth, highlighting the importance of maintaining clarity and alignment on the business’s purpose, vision and strategy.
- The lack of clarity on the business’s existence, ideal customers and the problems it solves for them, and core success strategies can significantly hamper employee effectiveness and growth trajectory.
- Achieving clarity of purpose and strategy is crucial for focusing on brand distinctiveness and value proposition, which are foundational for sustainable growth and overcoming competition.
- Munro’s encourages business leaders seeking to address root causes and achieve clarity for long-term success to engage in a conversation about how we can assist in this journey.
Presented By: Drew Pflaum
With Thanks To Ayman Al-Abdullah
References page.
video transcript
Let us start this video by quoting Ayman Al-Abdullah, now business coach and former CEO of App Sumo – a business he grew from $3million to $80million in revenue:
Like many of us
Your company likely won’t die because of a crisis
Your company will die from a chronic problem you ignored for years
— Ayman Al-Abdullah 🧱 (@aymanalabdul) July 10, 2023
He continues:
Focus on fixing recurring problems over one-time issues
Leaders tend to focus on the one-off problems because they’re easier to solve
But the recurring problems are the real bottleneck in your business
— Ayman Al-Abdullah 🧱 (@aymanalabdul) July 10, 2023
Why do we begin with this quote? Because Ayman’s wisdom is aligned with the advice of this video.
Tackle root causes.
Stalled growth tends to happen as businesses grow because, amongst other reasons:
- Founding teams, whether consciously or unconsciously, are initially agile and aligned, working towards the same goal. But as the team size grows, things change. Misalignment arises. This could happen for a variety of reasons. Perhaps the market presents many different opportunities to grow, but without alignment amongst the entire team, especially the leaders, the business tries to grow in multiple directions, spreading itself too thin and/or confusing customers and employees alike.
- Further, the business may have started with a new or relatively new product, or in an expanding market, where demand outstripped supply. But over time more competitors have entered the market, saturating it, making it more difficult for customers to see opposing offerings as anything different except for price.
One of the first responses to this may commonly be: “We need more leads”. So, you turn to marketing. But without clarity, marketing endeavours fall well short of required expectations.
The subsequent response may then be XYZ marketing isn’t working, let’s change marketing agency. But little changes.
Over time frustration builds as profits margins are being squeezed. Next on the firing line is staff productivity. Whether the sales team or operations. Whilst it may be very true that issues exist here, this is not likely addressing the root cause and may be leading you down a road of moderate growth or perhaps eventual closure.
Whether you come to the realisation now or in ten years, it’s the root cause you need to address. And in many cases that root cause is:
Inadequate Clarity.
If you as the business owner / CEO / MD / Department Head can’t precisely tell us:
- why your business exists;
- who exactly are your ideal customers;
- what painful problems you solve for them; and
- what core strategies will lead to success,
how can you possibly expect your employees – your marketing and sales teams, and operations – to execute effectively and thereby create the growth you desire and need?
Clarity of purpose – vision and mission – enables clarity of strategy. Clarity of strategy enables focus on brand distinctiveness and value proposition for customers. Combined, these are the building blocks enabling improved and viable growth.
The easy part is figuring this out. In knowing this is the starting point. The hard part is finding clarity.
If you’d like our help with this, we’d be thrilled to offer it. Helping business leaders bring clarity into the light and drive long-term success is what we’re all about.
Please feel welcome to book a Get To Know Each Other meeting and we can begin to explore what exactly we can do for you.
Problem 2. Staff Aren’t Performing To Their Best
One of your persistent barriers to business growth may be that you’re still using an operational structure built for a small business.
Solution
Get structuring right.
Outcome
Improved staff performance.
Read Key Points & Transcript
Operational Restructuring to Unlock Growth
video key points
- As businesses grow, evolving the management team becomes essential for sustainability, moving beyond the “jack of all trades” approach characteristic of smaller operations.
- Scientific evidence underpins the importance of a Fast Decision Structure in business, which reduces bureaucracy, fosters strategic thinking, and cultivates a high-performance culture.
- A strategic alignment requires individuals in roles where they can excel, with clear responsibilities, authority, and accountability mechanisms in place.
- Essential to success is the seamless flow of vital information throughout the organisation, demolishing silos to enhance cooperative execution.
- Positioning top talent closest to customer interactions underscores the value of frontline contributions to the organisation’s success and strategic objectives.
- For further insights on transitioning to a Fast Decision Structure and its implementation within your business, we invite you to get in touch.
Presented by: Drew Pflaum
video transcript
What typically happens over time, is that as your business grows, you hire new people, create new positions and tweak your management team as-needed in the moment.
This works reasonably well when you are a small business, with the team being highly connected and quite a number of the team being a jack of all trades.
However, there comes a time when what worked as a small business no longer works [best]. This is when restructuring should be considered.
Scientific research shows that one of the key pillars for “Winner” success in business is to have a Fast Decision Structure.
The structure needs to simultaneously support the reduction of bureaucracy, creation of a winning strategy and a high performance culture.
People need to be in positions where they thrive, know their responsibilities, have authority and are held accountable.
The management team needs to focus on setting a strategy and executing it with precision.
You must excel at sharing vital information across the organisation, breaking through silos and cooperating on execution.
Interestingly, the science also reveals you should put your best people closest to the action (in other words, closest to paying customers) – keeping frontline stars in place.
Getting from where you are now to a Fast Decision Structure is never about changing a few titles and/or people. It involves going deeper. Looking into the functions that your business needs to perform to excel at its strategy; and then crafting precise roles, authorities, reporting lines and strategic leadership system.
If you’d like to discuss a method to achieve this, please let us know.
In that video you just watched, we mentioned some research.
If you’d like the references, simply head on in to the Munro’s Business Academy and you can find them on the Reference page.
Problem 3. Talent Shortage
Whilst access to great talent ebbs and flows over time, the war for talent is a constant.
Solution
Build talent from within.
Outcome
A sustainable competitive advantage.
Read Key Points & Transcript
Build Talent From Within To Win
video key points
- Building talent internally is crucial for business success, offering a sustainable competitive advantage through attraction, retention, and performance enhancement of staff.
- A business’s purpose, alongside a culture of high trust and standards, significantly contributes to attracting and retaining talented individuals, motivating them to achieve their best.
- Implementing effective learning programmes enhances internal capabilities, driving innovation, customer retention, and productivity, as supported by scientific research.
- Research underscores the importance of nurturing human capital, highlighting its role in achieving superior sales, profit, and customer satisfaction outcomes.
- You are encouraged to complete the spam-free diagnostic at the end of the Build a Sustainable Competitive Advantage page, sign up to Munro’s Business Academy and book a free initial meeting.
Presented by: Drew Pflaum
References page.
video transcript
Transcript available on the How To Build a Sustainable Competitive Advantage page
Frequently Asked Questions for Unlocking Business Growth
- What exactly is business advisory for growth?
Business advisory for growth involves analysing your current operations, identifying barriers to expansion and developing a strategic plan that boosts profitability and long-term success. Most importantly, it’s about being there for you throughout the journey of implementing growth changes so that planning doesn’t go to waste and actually achieves profitable results. - How can Munro’s help improve my business profit?
Our team of experienced business advisors and accountants can work with you in a variety of ways to help you uncover and take advantage of growth opportunities. This can include workshops, sprints, programmes, coaching and upskilling. - What types of businesses benefit from your growth advisory service?
Our service is designed for small and medium-sized businesses aiming to expand revenues into the millions and maximise profitability along that journey. - Are your growth advisory services available outside of Perth?
Yes. While Munro’s is based in Perth, our business advisory and accounting services are available to businesses throughout WA and across Australia. - What do people say about Munro’s service?
We have received over 100 five-star Google reviews, which you can read and see our clients consistently highlighting our responsiveness and high value service. - What is the price of your growth advisory service?
Our pricing is transparent and reflects the complexity of your needs. See our pricing page and then contact us for a tailored quote. - How do I get started with your growth advisory service?
It’s simple – schedule a free Get To Know Each Other meeting. During this initial meeting we’ll discuss your challenges and goals, and then start to outline a roadmap tailored to your business needs.
Where To Begin
Come Along To An Improve Session
First Session is FREE (incl. GST)
Upskilling Event for Business LeadersTop 2% ranked Australian Accounting Firm
Claims of being a ‘Top 2% ranked Australian Accounting Firm‘ (and similar claims) are based on two separate assessments conducted by Munro’s on 9-10 August 2023 and 1 December 2023. The ranking is derived from a comparison of the total of each accounting firm’s overall star rating multiplied by each firm’s quantity of reviews as shown on Google Maps. A total of 4,235 Australian accounting firms listed on Google Maps were identified for the earlier assessment, and a total of 4,301 for the latter assessment, which may not represent a complete list of Australian accounting firms. Munro’s claims are based on Munro’s best estimation and represent a snapshot collected at the time of each assessment. If the assessment was to be conducted today, then it is likely that Munro’s ranking would have changed – Munro’s may or may not be in the Top 2% today. Also, the methodology does not account for other potentially relevant factors such as quality of service, expertise, or client satisfaction beyond Google Maps reviews.
Read Key Points & Transcript
video key points
- Top 2% ranked Australian Accounting Firm is based on two separate Munro’s assessments of Google reviews for Australian based accounting firms on 9-10 August 2023 and 1 December 2023.
- Both assessments found Munro’s to be in the Top 2% (position 66 out of 4,235 and position 44 out of 4,301 for the assessments, respectively) when a ranking was derived from a comparison of the total of each accounting firm’s overall star rating multiplied by each firm’s quantity of reviews as shown on Google Maps.
- If the assessment was to be conducted today, then it is likely that Munro’s ranking would have changed – Munro’s may or may not be in the Top 2% today.
Presented by: Drew Pflaum
video transcript
In December 2023, we conducted a review of Australian accounting firms on Google Maps, based on star rating and quantity of reviews.
Out of the 4,301 Australian accounting firms we identified on Google, Munro’s ranked number 44, placing us in the Top 2% of Australian Accounting Firms. We’re thrilled to share this fact with you and share those reviews on our website. We’d also like to thank all our clients who left us those wonderful reviews.
Thank you.
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