Grow your business to provide for your lifestyle

The AVN Performance Measurement and Improvement System, it is based on what the UK's most successful businesses do every single year.

Step 1 Decide what you want to achieve in the year - ie take your goals and plans and turn them into forecasts and budgets.

Step 2 Measure how well you actually perform each month - using a combination of traditional management accounting information and other key performance indicators, so that you have your finger on the pulse of everything that matters. And then use that information to fine-tune your action plans.

Step 3 Measure your full year's performance - by producing full financial accounts at the end of the year, as required by law.

Step 4 Evaluate your performance by comparing to previous years - so that the underlying trends are crystal clear.

Step 5 Evaluate your performance by comparing it to the rest of your industry - using benchmarking to identify your strengths and weaknesses.

Step 6 Estimate how much your business is worth - so that you can assess how well you are creating value or the business owners.

Step 7 Calculate how much more profitable and valuable your business could be - use everything you have learned about your own performance and the performance of others to estimate how much more successful your business could be.

Step 8 Develop a performance improvement plan - ie an action plan setting out precisely what you are going to do to improve your performance.

It is, of course, entirely up to you how much input and support you want in those eight steps. At one end of the spectrum, you may decide to do all the work yourself - using the 8-step process to guide you. And at the other end of the spectrum, you may want to make your life easy by getting us involved at every stage - perhaps even asking us to tailor the generic system to your precise needs.

You decide. You can have as much - or as little - help from us as you want. Either way, as your accountants we do strongly recommend that you use the 8-step AVN Performance Measurement and Improvement System to help make your business even more successful.

To help you start the process off we are offering a free benchmarking report to help you compare yourself to other similar businesses, which most importantly will show you where your strengths and weaknesses lie.

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