Business Coaching Strategic Planning Sales, Marketing, Team and Customer Service Training Business Books, Games, DVDs and CDs Case Study B Payne & Son Ltd case study name: Nick Payne company: B Payne & Son Ltd Revenue increased by £108,000 Net profit increased by 53.5% "My business dates back to the 1930s when my Grandfather, Benjamin Payne, purchased the pharmacy in Market Place Wirksworth. Interestingly the building, from which the business still operates today, is one of the oldest pharmacies in the UK - it was established in 1756! Running a small chain of pharmacies in this day and age is very challenging. I have to compete with the larger chains and, of course, the supermarkets. I also have to balance two different types of business - retail sales and dispensing. The latter is wholly reliant upon NHS decisions regarding funding, cost of goods and margins. The business had been stagnating for a while and I attributed that primarily to the economic climate and the difficulties of getting payment from the NHS - at any one time I can be owed as much as £300k which makes ensuring steady, healthy cashflow very difficult.. I knew I needed some help and so I turned to ActionCOACH and Neale. What Neale made me realise very quickly was that most of the problems were actually down to a lack of systems and processes, particularly in respect of the financial side of the business. For example, I had no reliable or up-to-date information about current cashflow and no means of compiling cashflow projections or forecasts. And the few systems and processes that I had in place were not up to the demands of a 21st Century business. Neale has really put me through my paces in the time I've worked with him, but it's been worth it. I've systemised almost all aspects of the business and brought it right up-to-date. I now have a 'financial dashboard' in place, which provides me with all the key performance indicators (KPIs) that drive my business. This ties in with the goals I have set for each branch and for the business as a whole. I've also invested in new technology and embraced e-Commerce, social media and new marketing techniques. The setting of goals and has had a major impact upon the business - and I am now confident to set ambitious targets. I want to create a successful business based on the values of a traditional pharmacy that I grew up with and incorporate new and innovative ways of growing the business. Goal setting and better time management have also had a very positive impact on my personal life because I am no longer immersed "IN" the business.I am now focusing on developing my team who I trust and will be delegating day-to-day operations to, so I can now spend a lot more quality time with my family. But, although I don't allow it to run my life anymore, business is never too far from the front of my mind and my wife is now running a traditional sweet shop next to the Wirksworth Pharmacy. It's going to be a great success". Results Include: Team Alignment, Business Quarter Planning Better Working Week, Increased Sales Professional Marketing, Loyalty Scheme Excellent Stock Control, Fantastic Customer Service Healthy Cashflow Martin Nolan 01606 74668 07778 879 437 [email protected] actioncoach.com/martinnolan The Stables Beach Road, Hartford Northwich Cheshire, CW8 3AB Case Study Neale Lewis 01335 330933 07808 096166 [email protected] actioncoach.com/nealelewis Sherwin Barn Rodsley Ashbourne Derbyshire DE6 3AP