Tim Levey BA FCA
- Chairman and Business Advisory Partner
- +44 (0)330 124 1399
- Email Tim
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View all peoplePublished by Tim Levey on 16 July 2019
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Tim Levey, Partner, Chairman and Head of Business Advisory, runs two groups of Business Leaders in Kent under the Intelligo brand. One of the members recently posed the following question:
“When looking at increasing net margin, what do you all focus on most? Reducing costs, or increasing revenue? If both, what percentage do you focus on each?”
In light of the above comments, the member who posed the initial question sat down to look at their business as a whole and assess the management accounts. However, this review session was cut short as they found that the more overtly pressing work required to achieve the day-to-day running of the business took precedence. Sound familiar? When recounting this to the group a follow-on discussion emerged about the need to make time to stand back and work “on the business” rather than “in the business”. It was also commented that professional practices in particular tend to be owned by people who are meant to manage and grow the business, but they are also usually the biggest and most important fee earners – a difficult balancing act to sustain.
If you would like to join one of the Intelligo Business Leader groups that discuss these types of issues then I would be interested to hear from you. Please contact tim.levey@krestonreeves.com or on +44 (0)330 124 1399.
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