Meet Derek Allen: A Founder and Trusted Adviser at CMC Business Advisers
In our ongoing series introducing the faces behind CMC Business Advisers, we’re delighted to spotlight Derek Allen, one of the company’s original founders. With decades of experience, Derek offers invaluable insights into his role and the services he provides to clients, showcasing his expertise and authoritativeness in the field.
Working with Clients: A Personalized Approach
Derek typically meets with clients once a month, along with the Senior Team, to discuss a range of business topics, including profit and loss, cash flow, sales, marketing, people management, processes, compliance, and other relevant matters. Each client has their own unique needs, so these meetings are tailored to fit their specific stage of business. The best time for these meetings is when the full set of monthly management accounts are available, allowing for informed decision-making.
The ‘Senior Team,’ typically made up of owners, directors, and senior managers, are the key decision-makers in the company. These meetings, which usually last a couple of hours, ensure that everyone stays aligned and knows their responsibilities. Derek also emphasizes the importance of formally recording issues such as health and safety incidents, anti-bribery and corruption, anti-slavery, data breaches, and IT security breaches, given the increasing compliance requirements for company directors.
The Rewards of Being a Trusted Adviser
After several months of working closely with key decision-makers, Derek often becomes a ‘Trusted Adviser,’ a role he finds very gratifying. To him, this means his clients really value his advice and experience, knowing he can contribute to a decision with an honest, objective opinion. To maintain this trust, Derek emphasizes the importance of understanding his clients’ business goals and how they make decisions, staying above the politics and emotions to help them make the best decisions, even if they are difficult ones.
Rewarding Projects: Helping Companies Achieve Their Goals
The most rewarding projects for Derek are those that lead to a company sale. Many companies he works with initially have little or no value to outside investors because they are ‘lifestyle companies’ providing an income to the owners. The transition to becoming ‘investment ready’ is crucial, and having worked with a company for many years and witnessing the owners receive their just reward for their risk and effort is incredibly satisfying.
Evolving Role: Staying Ahead of the Curve
Derek’s role is constantly evolving to ensure he continues to deliver the best service to his clients. With a team of CMC Business Advisers, they regularly discuss client experiences and emerging issues at their monthly meetings. Currently, he is working with clients to understand the impact of Artificial Intelligence, IT security, and environmental legislation on their businesses, among other topics. This evolving role is at the heart of being a CMC Business Adviser and a Trusted Adviser, with Derek having been with some clients for nearly 20 years.
If you would like to reach out with any questions for Derek, you can contact him via LinkedIn or the form below. For more information on CMC Business Advisers and their services, visit their website. You can also read the original article Here
