Strategic Business Review
It is a well accepted fact that it is much easier to deal with other people’s problems than it is to deal with your own.
That really shouldn’t surprise anyone. The fact is that we are all far too emotionally involved in our personal or business problems to be able to take that step back and face up to the realities of our situation.
For example, as an uninvolved and independent advisor Carraghyn provide detached, non judgemental, and practical advice to businesses who are facing insolvency. Our detachment and supportive advice can indeed rescue businesses – but in all honesty we would much prefer to work with businesses to ensure that they never get into the position where they need to avail themselves of our Business Rescue service.
The directors of a company are charged by law to carry out a range of “fiduciary duties” and if they fail to carry these out properly they can be held to account. The problem is that most directors are so involved in the day to day running of the business that they can’t take that step back and look at the situation in a cold and dispassionate manner. They don’t have the time. They are too involved.
Of course this is what non-executive directors are supposed to do. Being a non-exec means that you are not involved in day to day or executive/managerial functions and so you should have a high level overview. Well, that’s the theory. In practice it doesn’t work that way for a whole range of reasons. If it did then, as one example, the non-executive directors of the Royal Bank of Scotland would have stopped the ex-Sir Fred Goodwin from taking the bank to the brink of disaster.
Mind you, even if non-execs did their jobs properly less than 1% of companies actually have non-exec directors. In fact it is usually only regulated or stock market listed companies who have non-execs and then only because the rules say they must have them. Leaving aside questions of whether these guys are up to the job or not the theory is well founded. Every company needs uninvolved, independent and professional external advice.
Larger companies should be able to obtain such advice from good non-exec directors but that will come at a cost of at least £24,000 a year. SME’s might be able to get a non-exec for a bit less but in all honesty they may not actually need a non-exec. But they do need the sort of advice that a non-exec should provide.
This is where Carragyhn’s Strategic Business Review service comes in. Our experienced Chartered Directors will carry out a detailed review of your business and recommend business development strategies that are realistic, will actually work, and, most importantly, that will deliver bottom line results.
You will get the benefit of having qualified and experienced non-executive directors (not old buffers snoozing through board meetings) advising you but at a fraction of the cost.