Family Business

Industry: Construction

Client: Family owned, niche construction firm, $3 million in sales

Scenario:
The construction firm was founded in the 1950’s and the owner is passing the business down to his son. The business is currently stuck in a rut and is being operated with a 1950’s mentality. There is no structure, strategy, process, or direction for growth. They also lack the marketing expertise that will allow them to expand into newer markets. Management’s objective is to create a new road map for the company and a strategy that will ensure this small organization becomes recognized as a national player in the field. The management team specifically wants to narrow market focus and expand market share while increasing revenue from 3 million to 10 million in five years. As they create this new strategy, they want to develop a strong company culture with non-negotiable values.

Approach:
A six month customized strategic planning process with a strong dose of leadership was facilitated with the management team including the founder and his son. During the first engagement a detailed strategic as well as a marketing plan were developed.

The first engagement led to a second six month engagement where the focus was on improving the client’s marketing and sales efforts. A customized sales process was developed for this phase.

Results:

  • Developed a crystal clear vision and strategy with specific mapping of action steps over a two year period.
  • Doubled revenue in the first 18 months to $6 million.
  • Narrowed market focus to niche markets and expanded market share by 25%.
  • Completely repositioned, renamed, and rebranded the company and launched a national marketing campaign.
  • Company moved to a larger office space.
  • Realignment of staff.
  • Enhanced communication.
  • Developed an in-house sales support and tracking process. Within the first 6 months increased their sales presentation and calls by at least 20%.

Industry: Manufacturing

Client: Food Processing Equipment Manufacturer

Scenario:
Upcoming leadership of this family-owned organization was very young and in need of development. The owner wanted his sons to be ready to accept leadership responsibility sooner rather than later and help get the company out of its current ten million dollar rut.

Approach:
The owner and five upcoming leaders including his sons participated in a leadership development process combined with a strategic planning process. The process focused on defining where the company was headed, creating a seamless succession plan, and the specific objectives to make the new plan a reality. Based on the success of the initial project, the owner invested in 30 additional employees. Goal setting is used for all key corporate initiatives which are reviewed as a team monthly.

Results:

  • Leadership positions have been filled with candidates who are committed to the success of the organization and understand the plan.
  • There is a solid succession plan in place.
  • The company has achieved $16 million in revenue and quickly on the way to $17 million.

Industry: Pharmaceutical

Client: One of the nation’s fastest growing contract manufacturers of pharmaceutical creams, ointments, and toothpastes.

Scenario:
Due to the untimely and unexpected death of the father, his son stepped into his new role as President and CEO of this company, at just 26 years old. He inherited a prosperous business, and for the first year was afraid to touch a thing. His father’s focus on cost control and his authoritarian leadership style had been just what the company needed to climb out of bankruptcy. Sales were at a plateau, and they were bouncing from one market to another.

Approach:
Implemented strategic planning process to transform the organization and position the company for breakthrough financial results. They developed strategic objectives for the next five years that included doubling revenues and quintupling profits. After completion of the five year forecast, the Consultant then helped the client develop a detailed 12 month business plan. In addition, the Consultant worked with the client to bring new talent onto the senior team and provide coaching as the business evolved.

Results:

  • The business planning process has made a significant impact by bringing new discipline to decision-making. They now review new projects against other priorities in their plan, which allows staff to maintain focus.
  • Managers also have a clearer understanding of the projects their colleagues are pursuing and why, since they were involved in establishing shared business priorities, which has eliminated silo-thinking and dissolved interdepartmental tensions, as well as improved customer service.
  • Their focus is now on the company’s resources and major contracts that are aligned with their core competencies.
  • The organization is currently making significant investments in equipment, laboratories, regulatory systems, and other aspects of its operations that enable growth and profitability.
  • Two long-time employees were coached to develop the precise skills the team needed to succeed.
  • In response to a $2 million downturn in sales during the past year, the organization rose to the challenge and exhibited a laser-like focus on cost control. As a result, the company doubled its profits during one of the worst economic downturns in history.
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