Business Doctor Program

More than 70% of small and medium-sized enterprise (SME) owners in Singapore manage all aspects of their business independently. As an accredited management consultant registered with the Institute of Management Consultants Singapore (IMCS), we provide the Business Doctor Program, which employs a comprehensive four-step analytical approach to assist SMEs in strengthening and addressing critical blind spots to enhance their business performance.

With a focus on business strategy, brand sustainability strategy, sustainable financial management, human resources, and operations, we firmly believe that every SME can achieve its ultimate objective of profitability and efficiency.

What is a business doctor?

A business doctor is a FMC-trained management consultant for SMEs, a professional who helps small and medium-sized enterprises (SMEs) develop and implement effective business strategies. Our consultants work with business owners and leaders to identify areas of improvement, develop strategic plans, frameworks, governance and provide guidance on how to execute those plans.

We offer a wide range of services to SMEs. Some of the most common services include:

Business & Brand Sustainability Strategic
Planning: Developing a long-term strategy for your business.
Operations Management: Improving your business processes and workflows.
Sustainable Financial
Management: Managing your finances, improving profitability with effective budget allocation modelling.
Human Resources Management: Managing your employees and improving productivity.

No matter what your business needs, we have the expertise to help you succeed.

Our Methodology

In our Business Doctor Program, we follow a proven methodology (“DPTM”) to ensure we deliver high-quality deliverables to our clients. It is based on four fundamental principles:

1. Diagnostic

Upon confirming your participation in this program, you will enter into a consultation a.k.a the “Diagnostic Process”, with the “Business Doctor” where we focus on understanding your current situation(s) and set goal(s) to be met from this program.

Your business will then undergo a deep diagnostic whereby your financial reports, business processes (i.e. sales, operation, finance) & policies are broken down and deciphered into easy-to-understand graphs and ratios.

Key stakeholders and respective head of departments will undergo an interview on a customised questionnaire designed to meet the goal of this program.

2. Prescription

You will then be presented with the Business Consultation Report, a.k.a the “Prescription Process”, that prescribes the recommendations a.k.a the “Treatments”, to resolve the business challenges necessary to meet your goal.

Together with your business doctor, you will make pragmatic decisions on the recommendations to undertake, all dependent on the current business situation.

3. Treatment

Once you have decided on the treatment(s), your business doctor will then perform D.C.I on the treatment administered, together with Finnex’s GSS Framework, 5 BPs Framework and various concepts respectively as follows:

Devise or Revise
Communicate
Implement

4. Monitoring

Lastly, the selected treatment(s) is / are completed, continuous monitoring through “Finnex Care” will help to ensure that the treatment is properly administered and outcome(s) are effective.

Your business doctor will always keep an eye on any adverse viruses (i.e Local and International economic news and political news) that may impact your business to stay ahead and well-prepared for foreseeable and unforeseeable circumstances

Our team has a proven track record of success, and we are committed to delivering results for our clients. We work closely with you every step of the way to ensure that your business achieves its full potential.

What are the benefits of hiring a management consultant?

There are several benefits of hiring a business management consultant for SMEs, including:

Provides an external perspective and unbiased analysis of business operations and strategies.
Brings in specialised expertise and knowledge that may not be available in-house.
Helps identify areas for improvement and develop actionable plans to address them.
Assists in developing and implementing effective strategies for growth and expansion.
Provides guidance on financial management, risk assessment, and compliance.
Helps with change management and organisational restructuring.
Offers training and development opportunities for employees.
Helps with crisis management and contingency planning.
Provides access to a network of industry contacts and resources.
Can be a cost-effective way to improve business performance and achieve long-term goals.

When should SMEs consider hiring a business management consultant?

Small and medium-sized enterprises (SMEs) should consider hiring a business management consultant when they are facing challenges that they are not able to address on their own.

Some specific situations where SMEs may benefit from the expertise of a consultant include:

Developing a business strategy: A consultant can help SMEs develop a clear and effective business strategy that aligns with their goals and objectives.
Improving operational efficiency: A consultant can identify areas of inefficiency and recommend solutions to improve productivity and reduce costs.
Implementing new technology: A consultant can help SMEs identify and implement new technologies that can improve their business processes and increase their competitive advantage.
Managing change: A consultant can assist SMEs in managing change within their organisation, such as mergers and acquisitions, restructuring, or introducing new products or services.
Financial management: A consultant can help SMEs with financial management, including budgeting, forecasting, and cash flow management.

Where can SMEs find business consultants?

SMEs can find business management consultants through various channels, including:

Referrals from other business owners or industry contacts.
Online directories and marketplaces that connect businesses with consultants.
SME Centres by EnterpriseSG
Social media platforms and forums where consultants may advertise their services.

Why is it important for SMEs to work with a business management consultant?

Working with a consultant can help SMEs:

Develop effective strategies for achieving their business goals.
Identify areas for improvement and implement changes to become more efficient and effective.
Stay competitive in their industry by keeping up with trends and best practices.
Save time and resources by focusing on the most effective strategies
Gain an objective perspective on their business, which can be valuable in identifying blind spots and areas for improvement.
Receive guidance and support throughout the strategy development and implementation process.
Increase their chances of success by working with an expert who has a proven track record of helping businesses achieve their goals.

How do business consultants work with SMEs?

Finnex business consultants follows a structured process that includes the following steps:

Initial consultation: The consultant meets with the SME to understand their business, goals, and challenges.
Assessment: The consultant conducts a thorough assessment of the SME’s business operations, processes, and market position to identify areas for improvement.
Strategy development: The consultant works with the SME to develop a strategic plan that addresses the identified areas for improvement and aligns with the SME’s goals.
Implementation: The consultant provides guidance and support as the SME implements the strategic plan.
Evaluation: The consultant evaluates the effectiveness of the strategic plan and makes adjustments as needed to ensure the SME achieves its goals.

Hiring a business consultant can be a wise decision for SMEs seeking to enhance their business operations and achieve their objectives. The consultant’s expertise, impartiality, efficiency, accountability, and guidance can assist SMEs in creating and executing successful strategies that drive business growth.

Finnex Management Consulting Journey

Embark on a journey with us and discover we help businesses achieve their goals through our expertise in business and brand sustainability strategy, operations, sustainable financial management, and human resources.

All FMC consultancy projects can be subsidised through the Enterprise Development Grant, EDG. From Budget 2023, the grant support level for EDG projects will be up to 50% from 1 April 2023 onwards. For sustainability-related projects, the support level can be up to 70% from 1 April 2023 to 31 March 2026.

01

Understanding

First, we deep dive into your business and understand you and your goals for the project.

02

Gather

Next, we gather the necessary information and data to perform multiple analyses of your company’s viability.

03

Analyse

The fact-finding process will allow us to understand your business gaps and shortfalls that may be hidden from you.

04

Strategise

The fact-finding process will allow us to understand your business gaps and shortfalls that may be hidden from you.

05

Craft

We’ll then craft the necessary framework, policies and procedures to ensure your business sustainability & stability to fuel potential growth opportunities.

06

Training & Workshops

Trainings and Workshops will be catered to train your management on the new framework & models.

07

Nurture

That’s not the end! As we want you and your business to soar greater heights, our sister company, Finnex, will guide you and ensure your working capital needs are uninterrupted when executing the long-term strategies.

Our Methodology

Business Doctor Program

1. Diagnostic

Upon confiriming your participation for this program, you will enter into a consultation a.k.a “Business Doctor” where we focus an understanding your current situation(s) and set goal(s) to be met from this program.

Your business will then undergo a deep diagnostic where by your financial reports, business processes (i.e sales, operation, finance) & policies are bring breakdown and deciphered into easy to understand graphs and ratios.

Selected employees will undergo an interview on a customized questionnaire designed to meet the goal from this program.

The SWFR* (Strengths, Weakness, Findings & Recommendations) will be generated and presented to you.

2. Prescription

You will then be presented with our RAP Report, a.k.a “Prescription that prescribe the necessary treatments recommended for your business to undertake in order to meet your goal.

Together with your business doctore, you may choose to take all actions in our RAP Report or selected ones, all dependent on the current business situation.

3. Treatment

Once you have decided on the treatment(s), your business doctor will then do D.C.I on the treatment administered respectively:

Devise or Revise
Communicate
Implement

4. Monitoring

Lastly, your selected treatment(s) is / are implemented and on constant monitor at least once a month to ensure that the treatment is properly administered.

Your business doctore will always keep an eye on any adverse viruses (i.e Local and International economical news and political news) that may impact your business to stay ahead and well-prepared for foreseeable and unforeseeable circumstances

Services

Business Strategy Development

Get Started Service Descriptions Mortgage Consultation for Business Owner(s) Being a business owner is a challenging career. You must find your own income, and pay

Finance Management

Feeling the financial juggle? We get it. Running a small or medium-sized business comes with its own set of financial challenges. That’s where we come in. At Finnex, we’ve got your back with our tailored Finance Management Services designed

Human Capital Development

Get Started Service Descriptions Human Capital Development With countless exposures and experiences with SMEs, it is amazing to know that out of 10 SMEs, there

Enterprise Development Grant

The EDG Grant in Singapore is a professional and reliable program that provides funding and support to businesses looking to expand and grow. With its

Market Readiness Assistance Grant

Looking to expand your business overseas? The Market Readiness Assistant (MRA) Grant in Singapore can help. This funding initiative provides financial assistance to companies seeking

Frequently Asked Questions

What areas of expertise do Finnex Management Consulting business management consultants possess?

Project Management Professional
Enterprise Risk Management
Change Management
Sustainable Finance Frameworking
Finance Optimisation
Business & Brand Sustainability Strategy Development
Human Capital Frameworking
Remuneration & Benefits Analysis
And many more…

How much does it cost to hire a business management consultant?

It depends on the complexity of project scopes, which range between a few thousand and over a hundred thousand. The great news is, that EDG can be applied and supports up to 50% of the project cost.

For sustainability-related project, EDG can support up to 70% of project cost.

CTC Grant can support up to 70% of project cost for Enterprise Transformation & Workforce Transformation.
Resource: https://www.ntuc.org.sg/usme/how-we-help/ntuc-ctc-grant

How do I choose the right business management consultant for my business?

Depending on the project requirements, Finnex Management Consultants will be deployed with the right skills mix in their area of expertise to ensure the best outcome(s) are derived at the end of the project.

How long does it take to see results from working with a business management consultant?

Typically, between 6 months and 3 years, the outcomes would already kick into effect and all outcomes also factor in the business owner’s drives in pushing and persevering the initiatives/frameworks/controls created and initiated.

Can a business management consultant help with marketing and sales?

Yes, it is possible.

How confidential is the information shared with a business management consultant?

As the financial data of your company will be shared, we define the information to be highly confidential. As such, our company invests in cybersecurity software and none of the client’s information is stored in local devices.

What industries do business management consultants typically work with?

Although “Jack of all trades” sounds like a phrase that defines no specialisation, we are the go-to experts on business & brand sustainability strategy, sustainable finance management and human capital developments and we positioned ourselves not as a specialist but the “Jack” to continuously learn on all industries and apply applicable concepts, knowledge and strategies to enable Growth, Sustainability and Stability to our clients.