The following are just a few examples of the successful results achieved by our team. We would love your organization to be our next success story!
Building Performance Infrastructure Leads to the Completion of Strategic Initiatives
The Organization’s IssueThe organization lacked a strategic plan, short / long-term goals, and operated in fire-fighter mode. The Board of Directors and lenders expressed frustration and a lack of confidence in the executive team’s ability to strategically operate to meet objectives. The significant compliance and financial strains caused a struggle to balance daily operations and tactical priorities with the strategic priorities. The failure to implement strategic priorities delayed holistic approaches to growth as the organization operated without mission, vision, or value statements. This caused a disconnect with the staff.
- Collaborated with the leadership team to form the vision, mission, and core values.
- Held an executive workshop to introduce the SWOT analysis concept, new to most team members.
- Helped the team recognize the possibility of mitigating risks and capitalizing on strengths.
- Led workshops to develop the first set of strategic initiatives, ensuring alignment with the newly created vision, mission, and values.
- Created a tracking system with clear deadlines and scheduled monthly problem-solving meetings.
- Completed five strategic initiatives annually by executing business plans and setting goals, analyzing data, and assessing project management.
OutcomeImproved the relationship and level of transparency between the Board of Directors and the organization which created a greater level of trust and collaboration for all the Shareholders.
Analyzing Data Produces Accurate and Timely Budgets
The Organization’s Issue
The executive team struggled to produce an accurate fiscal year budget to the Board of Directors by the deadline, resulting in approval after the first quarter. The team started the process too late and worked in silos to prepare the budget, leading to conflicts. They lacked correlation of sales numbers to the marketing spend, a trend analysis, a strategic plan, and staffing failed to align with revenues.
- Established a timeline that included the completion of an annual SWOT analysis and the strategic plan prior to the start of the budgetary process.
- Used a project timeline to create tasks and deadlines for each aspect of the budget.
- Benchmarked timetables and assembled the team for key budget meetings to ensure a collaborative process.
- Used new reporting systems, historical data, and current trend and data analyses, to improve forecasting and tie year-end financials to the results.
- Delivered timely and accurate annual budgets by performing a SWOT analysis, developing strategic initiatives, and leading collaborative forecasting.
Expedited the budget approval by 3 months which increased the ability of mid-level and senior-level management to plan, implement and execute goals.
Financial and Operational Efficiencies
The Organization’s Issue
The company salary and wages stood at 48% of gross revenue and vendor contracts, cost of goods, and outsourced services needed evaluation. Many of the leaders stayed loyal to existing employees and vendors and preferred to pass on a hard look at the financial results. Wage and salary variations by location seemed significant but difficult to assess without salary or wage tables. Leadership tended to focus on ways to grow revenue to justify the expenses instead of emphasizing cost reduction and revenue growth. This resulted in a bleak financial trajectory.
- Collaborated with the finance team to acquire micro / detailed data and analyzed the P&L reports.
- Implemented a pay scale and adjusted employees to the scale.
- Implemented a staffing metric based on performance to customer to employee ratios and downsized as needed.
- Oversaw the AP department through a re-bidding process with all vendors and directed the corporate team through an outsourcing evaluation.
Decreased total expenses by $2 million in annualized operating costs within the first three months by analyzing P&L data, evaluating the staffing model, and reducing operational inefficiencies.
The Organization’s Issue
An equity group and family acquired an at-risk organization that incurred a $2.2 million per monthly operating loss. The firm operated with outdated programs, policies, and procedures. The complacent culture lacked innovation and customer centricity. The seasoned leadership resisted change and expressed skepticism of the new ownership.
- Evaluated the leadership team abilities to manage through change.
- Engaged with employees to assess the adaptability of the leadership team.
- Fired managers unable to embrace the significant changes.
- Recruited high performing leaders with the expertise to turn around operations and fit into the new culture.
- Provided education, training, and coaching to the existing leaders to drive the success of the new organization.
Achieved 10% to 12% EBITDA margins after turning around company losing $2.2 million per month by recruiting strong performing directors and executives and supporting existing leadership with training and development.