The first thing I learned when I first started in finance was that at a basic level finance was all about protecting a company’s assets. This led me to create the protect framework.
A company’s assets include it’s people (most important), it’s operating systems as well as a myriad of other tangible and intangible components.
The protect framework is made up of seven pillars. I’ve called them pillars as they are all equally important.
You’ll find a visual illustration at the top of this post and I’ll go into more detail on each pillar below.
The seven pillars of the PROTECT Framework
Pricing. Are you pricing correctly in your business? In service-based businesses are you pricing simply for the hours a client uses?
Using our framework we encourage our clients to start charging based on the value to the customer and the results you generate.
Reporting. What a company measures defines how people work. We focus on real-time key predictive indicators, making everything simple but not simpler.
Reporting is about more than just keeping score – we need to be able to provide insight and guidance on how to improve performance.
Operations. Not the sexiest bit of any business but systemisation is a key part of how you operate successfully.
By documenting your core processes that define the way your run your business you help ensure that everyone across the business gets “on the same page” which leads to more consistency and an ability to scale your business.
Trust. You can’t build strong and resilient business without trust. That goes for your leadership team as much as your employees.
We help businesses understand the eight key elements of how you create strong and lasting trust in your business.
Evolve. You have to involve the whole business in change and whilst some people don’t like change, there is a difference between change that is imposed and change that is adopted.
People don’t mind change. They just mind “being” changed. Evolution is a key pillar of any business.
Cash Flow. It’s an often quoted statement but cash really is the oxygen in your business. Without cash unfortunately businesses don’t survive.
Equally though too much cash sitting in a bank account is also an issue. You need to leverage this cash to help your grow your business.
Technology. You need the right tools and technology in your business. Tools that save time and money and make your business more efficient. You can check out our toolbox for more info!
If you’re interested in finding out more about how our PROTECT framework can help your business please arrange a FREE discovery call. 🙂