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When a business is operating in cruise mode, their profitability and consistent cash flow means they are no longer classified as a ‘start-up’, however they have hit a plateau and are showing limited signs of growth and progression. BIAS identifies this mode as a crucial phase, where if risks and challenges are not appropriately managed they can easily slip back into survival mode.
BIAS has identified phase 2 as cruise mode. When a business is operating in cruise mode, they have progressed past the initial start-up phase and are showing enough profitability and cash flow which can potentially be sustained on an ongoing basis.
When a business is in cruise mode, it is at high risk of easily slipping back into the survival mode if it is not effectively managed. It is common for a business who is in cruise mode 2 to fall into the trap of being ‘too comfortable’ and as a result, lose the ability to significantly progress and continue to grow.
Businesses who are in cruise mode face the challenge of maintaining their focus on continuously keeping the business moving forward. This ongoing progression and growth will ensure you hold market share and maintain an edge against your competitors.
BIAS offers businesses in cruise mode a wide range of effective and affordable services. Our qualified professionals will conduct a financial analysis on your business, introduce a more sophisticated financial system if necessary and report any warning signs before they potentially cause major issues. We also provide a financial ‘sounding board’ when there are any significant financial decisions which need to be made, enabling you to implement a proactive strategy as opposed to being reactive.
The team at BIAS will work closely with you to give you clarity on how well your operations and finances are performing. After an in-depth analysis of your current situation and business performance, we will provide you with the necessary skills which will allow you to implement effective strategies that are tailored to your specific business needs. We want to reduce your stress and remove your worries by giving you assurance that there are no 'pitfalls' or financial problems which you may be at risk of in the future. When you engage in our cruise mode service, you will receive a Certificate of Assurance each month, giving you peace of mind that your business is on track.
BIAS is here to encourage you to be proactive by safeguarding your business and ensure you avoid any issues which may negatively affect your enterprise. The expertise and combined industry experience of the team at BIAS, means you will feel confident knowing that we can successfully contribute significant value to your business, allowing you to be rewarded with benefits to your business and lifestyle.
What is cruise mode and how do I know if my business is in cruise mode?
When your business generates similar turnover and profit from year-to-year with little change and the business appears to be "stale". Whilst you can pay your bills on time and there is reasonable cash flow the business is aimlessly cruising from year-to-year with little growth or change.
What’s wrong with being in cruise mode?
Businesses are either growing or dying and when your business is aimlessly cruising from one year to the next, it’s actually dying – slowly. It may appear you are cruising but in fact you are slowly dying, you just don’t know it. It only takes a small adverse event to send you business spiralling towards survival mode!
What are the dangers of being in cruise mode?
When a business is in cruise mode for an extended period of time it is slowly dying. What can happened is that a small adverse event can send your business into survive mode very quickly and before you know it you are struggling to keep your business afloat. Whilst it may appear your business is safe it doesn’t take much to quickly change things!
Want to know if BIAS is right for you - speak to a consultant on (08) 8363 4499