Carnival Catering faced a problem. It had a substantial investment in facilities, deep expertise in most forms of catering, but little idea of what it should do next to successfully grow the business as a key family investment.
Roger, its owner, was a demanding, driven personality who, if not busy, felt he was failing. He was opportunistic and found it very difficult to resist new business opportunities. Many of these turned out to be lemons.
During the three-month accelerator, Roger applied his formidable energy to learning to use the different online tools in order to understand his path forward. One particularly took his attention – a very simple spreadsheet which allowed him to compare the development cost of undertaking an opportunity with the likely cumulative EBITDA it might produce. (This is a highly simplified form of Net Present Value analysis.)
Roger had found what he needed – a tool to sieve out unsuitable opportunities before he committed to them. Of 12 current opportunities, the tool allowed him to dismiss 10 and focus on two.
Roger was clear where he wanted to get, now he had a means of picking off the means of doing so.
Carnival is on a successful growth path with employment growth and two new business opportunities. Cash flow is positive, and the business owner has settled down to a much more measured business growth
Is this planning? We’d argue he had goals and could, progressively, respond to his environment. A very tactical approach but a sound one.
REGIONAL NEXT STEPS CASE STUDIES:
HELPING SMEs CREATE NEW REGIONAL JOBS AND GROWTH
Case Studies (normalised)
Case 1 – Action This Day (Carnival Catering)
Case 2 – Family First (The Garibaldi Group)
Case 3 – Go with Daniel Craig (The Riparian Café)
Case 4 – The Boys and the Brew (The Bush Distillery)
Case 5 – The Sun King (Dynamo Real Estate)
Case 6 – Caravans Galore (The Big Caravan Park & Resort)