What's the difference between planning and strategy?

Planning is the documenting of your business plans. This could include, opening another branch, introducing a new product line or hiring more staff.  

A business strategy on the other hand, is a set of actionable steps or milestones that you will take to implement your business plans. It is through the business strategy that your construction accountant will help you.

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Business Planning

Your business plans should come easy,

• What are you providing?
• Who are you providing this to?
• Why did you start the business?
• How do you want it to look in the future?

You should also look into the costs incurred to provide your product or service and the cost of running the business. These are your fixed and variable costs (or Cost of goods sold and Overhead costs). Identifying these two cost types is important. Construction Accounting can provide you with the accounting expertise to help you identify and forecast you companies financial performance.

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Business Strategy

Analyse and Identify Key improvement areas in your construction business.

• Review business operations to identify non-financial drivers
• Forecast sales pipeline with real operational targets
• Establish fixed and variable operating budgets
• Determine business capacities and relate to pricing, income and costs
• Identify actionable milestones

This should be highly detailed and could be used as a daily operating guide to running your business.

We work with you to develop and implement your business strategy. We assess your companies operating capacities to ensure your businesses financial and operational balance is in check. We use this information to then get your construction business on the right path to success, by identifying realistic operational (not financial) targets to be achieved.