The Well Run approach is about working with each business to establish their Well Run Routine and ensure they have the information they need at their fingertips. The Well Run Routine is adapted to each business and is flexible enough to cater for exactly what your business needs.
Starting with a Business Diagnostic, Well Run will work with you on what stage your business is at, what knowledge is in your business and how that knowledge has been captured to date. This involves mapping out your business and assessing how your business is currently running and where improvements can be made. Well Run will then produce a comprehensive pack outlining current state and provides insights and recommendations.
Well Run will work with your business to execute the recommendations; how much our team is involved in execution is up to you:
Well Run can set up the Well Run Routine for you and teach you how to perform it internally going forward
- You can choose for Well Run to complete the Routine on your set schedule
Well Run Routine
The Well Run Routine is a 5 step routine that your business will perform each month to ensure that you stay on top of your performance. It has been created to ensure you have all the knowledge of your business in one place. It works with your accounting timelines and external influences to ensure timely and accurate information. Underpinning this is what Well Run is passionate about – routine! To make this work you have to be committed to the routine.
Run and review your financial statements
Ask your bookkeeper to correct any misstatements (for example, an item coded to the incorrect place or in the wrong period)
Particularly check that all systems outside your accounting system, have fed in (for example all sales have flowed through or all invoices have been posted)
This is your ‘one stop shop’ that has your financial position, sales performance, expenses analysis, marketing targets, operations analysis and inventory management. This is tailored for each business.
With actual historical information and any new risks and opportunities you have regarding the remaining financial year.
- Compare this with the key take outs from previous months
- Document actions and key take outs for future periods
Well Run Methodology
The Well Run Methodology is founded on the Tech industry’s Agile Methodology incorporating management accounting principles and project management techniques to ensure it is clear and can be successfully used within any business.