Assessing and Selecting Opportunities
Picking the right opportunities to pursue is an essential component of building a successful business. Potential opportunities may be internally or externally generated but in either case they need to be carefully assessed and often with discretion. Understanding their impact and optimising to maximise benefits can transform your profitability.
Importantly, The Brook Partnership can provide an external, objective and impartial view to help management discriminate between options and answer some key questions.
Strategic fit
Which of the potential opportunities will meet your strategic vision for the business? Is there a game-changing
opportunity potentially available?. Is there a combination of opportunities that meet your vision? Are the opportunities realistic,
and affordable??
The Brook Partnership works with management to identify the key deliverables for the strategic vision to be met and how each potential
option matches these. Detailed feasibility analysis can then be focused on the lead options.
Feasibility investigations
An idea may look great but can it actually be implemented and will it really work?
There are many questions to be addressed. Is a complete transformation of the business needed? Can goals it be achieved incrementally? What are the expected costs (financial and resource) and are they affordable? Is it sustainable?
Business models and evaluations
The Brook Partnership can help through the assessment of alternative business models to examine expected outcomes, for instance, how quickly can measurable benefits be expected to come through? Will implementation require significant changes to the way things are done and are there alternative business models available? How would it affect staff and the customer experience? How much does it actually increase competitiveness and/or expand market reach? How would you expect competitors to react?
Impact analysis
The Brook Partnership works with management to determine and quantify where possible the expected outcomes from implementation compared with the expected outcomes if the plan is not implemented. Aside from the important quantifiable benefits to the business other ‘external’ factors such as the future regulatory environment, and the likely advent of prospective new technologies etc can be assessed.
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