The foundation of any successful business is the governance used to structure the operational functions of the organisation. As a business grows from being a small entity to one that is generating revenues over $500k, it is critical that a strong foundation is laid to ensure future growth is not only sustainable but also can be built without knocking down too many existing structures. The old saying “evolution not revolution” holds true today in current economic times. Our advisory services are there to ensure that the foundation is strengthened and the future strategy is secured.
Madison Wells provides advisory services to facilitate problem solving and evidence based decision making through the analysis of:
Financial Reporting Analysis.
This is a critical function of Corporate Governance ensuring that the reports are analysed to provide a deeper insight into where problems may be hiding. For smaller entities, these skills may not exist or there may not be enough time to do a proper job. This analysis can tie into Revenue and Cost Management to ensure the right levers are pressed with the right amount of pressure!
Risk Assessments and the Definition of Risk Appetite.
Many business feel they know the basic risks that surround their organisation however risks can appear quickly and be highly damaging for an entity that is unprepared. Our assessments and review of the risk appetite provide an awareness of areas that can be prioritised by the management team.
Reviews of Existing and Future Governance Functions.
Many organisations are functioning today with an owner/management structure that will not be able to evolve with as the organisation grows. Many investment companies require that a governance board is defined before they provide their financial input. Through our connection to the Advisory Board Centre, we can help define the right structure for the business governance oversight allowing it to evolve towards a more formal Board.
Madison Wells can review the current governance functions and will help advise on how and when to put in place a revised structure or additional functions to meet regulatory requirements.
Marketplace and Industry Reviews.
Using several analysis frameworks, Madison Wells can provide input to an organisations marketplace and industry views. These services will provide input to Revenue and Cost Management and provide input to long term strategy plans. These advisory services are geared to helping organisations make better, more informed decisions.
Corporate Skills Assessments.
This is a critical governance function. Too many organisations both large and small, have the wrong people in roles that are crucial to the survivability of the company. In large organisations, these people are dead wood and often fill the entity with negativity slowing down the progress of the business. In smaller companies, it can be disastrous to how long the business can survive.
Madison Wells uses its experience to review and rewrite job specifications at all levels that strip out the useless functions that are often defined in role definitions, which could lead to the wrong person being hired. An example of this is the number of senior management roles that have a deep technical requirement in the definition – people management and communications skills are needed far more than technical ones!
Getting the right people in the right roles will contribute more to the success of the company and the associated employee satisfaction. Madison Wells has a wide network of people that could help redefine the business and be the right person for the right job!