Getting your money's worth
by Catherine Woods - Thursday, 18th October 2007 -
Corporate finance expert David Blair has one thing to say to FDs paying advisers for an upcoming transaction: use the resulting business plan for the next year instead of just for the deal.
“A lot of companies spend much money on advisers on an ad hoc basis. They’re brought in to do one deal,” he says.
“These people make an investment in planning for that one-off transaction and then the resulting business plan goes into the bottom drawer and is forgotten.”
Blair reckons FDs should think about the milestones they want to achieve in the first year after the deal, and write that into the business plan.
“Putting plans into practise requires a lot of thought. They would get a better return on their investment if they take a longer-term operational and strategic view.”
Blair is CEO of DBA Group. He was recently awarded the Institute of Chartered Accountants in England and Wales’ corporate finance qualification.
Related tags: david blair, advisers, corporate finance, dba group, business plan, institute of chartered accountants in england and wales,
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