Insight and Analysis for Strong Growth
Our client was a manufacturing company specializing in affordable luxury linens and furniture for the home.
The owner was a typical small business owner. Smart, had learned the ropes through trial and error and was now ready to grow the business. They are highly technical, savvy and know their business inside and out. The client lacked a plan and needed help with employee engagement. The employees were hard working and dedicated to the owner because they knew there was great potential for the company.
We helped our client develop a plan. We conducted monthly facilitated management meetings with their key management team. The focus was on growth and identification of their products that would have the highest return on investment. We conducted a Growth Workshop as part of our monthly meetings. We helped them identify what made them unique and helped them develop action items to beat their competitors. Following that, we performed an analysis on their product offerings. In short, they identified their cash cows. The client’s projected sales went from just over $2 million to $9 million in actual sales the following year.
Strategic Planning to Weather a Stormy Economic Outlook
Two friends started a hospitality business at their kitchen table because they enjoyed hosting parties. The business was at first “something to do” while both pursued family life. Profitable growth, continuous improvement, expansion and succession became top priorities.
Both owners encouraged their children to join the family business. The business was growing, new markets were being developed and expansion was underway as the business entered into the real estate market. As the family business grew and the economic downturn became a reality, the stress on the business began impacting the next generation. While a succession plan was in place, both founders agreed they wanted to grow their original business and wanted to get more out of the new markets. Long range, they wanted to create a family business that would provide income to them and provide long term employment/ownership for their children.
Our engagement was to conduct a strategic planning workshop. The workshop resulted in a one-page plan and from that point we began meeting monthly with project teams. Using project teams, we provided coaching and business skills training (leadership, marketing, sales). In addition to project team oversight, we conducted an efficiency audit and we helped develop and implement a succession plan. The company focused on profitable growth to strengthen its infrastructure. The family business structure is in place, their children became successors and the footprint of that kitchen table idea has stood the test of time.