Revenue Generation
A 100 person design build construction company was challenged with building its backlog. The company’s sales team was losing focus on its core markets and customers while also not identifying enough prospects to build a significant pipeline. Accountability and goal setting was also lacking in the sales organization.
Growth Strategy Partners was engaged by the leadership team and sales teams to assist building its backlog and more specifically a process to continually build sales. We helped the company refocus its efforts on its core customers and markets while also developing metrics to track accountability and performance relative to sales efforts.
After one year, the company’s backlog had increased over 500%; accountability and performance measures in the sales organization were instituted, the pipeline was full and the sales teams were performing.
“For the past two years, Growth Strategy Partners has helped us rebuild our leadership team and to remain focused on our core competencies and market strengths. Through this strategic assistance, we have increased our construction backlog by over 500% in one year which will carry us into our next phase of corporate growth.”
Terri Todhunter, President, Hoffman LLC
Strategy Articulation
A 17 person wealth management company was looking to ‘revitalize’ and improve its annual strategic planning offsite. Although the company had been growing over 20% and conducting yearly off-site strategic planning sessions where goals and strategies were defined, the strategies defined typically ‘lost steam’ throughout the year and lacked marketing initiatives the owner believed the company needed to continue the growth. The owner had lead the earlier strategy sessions and believed he may be indirectly silencing input from his team due to his title and aggressiveness.
Growth Strategy Partners conducted its Strategy Articulation Workshop where we facilitated the team through our proven two-day strategic planning process. Through pre-work and facilitation, we identified the company’s priorities for competing in the markets it served while also quantifying where and how revenue was generated. We also identified the company’s ‘sweet spot’ to target its marketing efforts to continue its growth.
At the completion of the two day session, the company had succinct strategies and initiatives to continue its growth but more importantly the company had a meeting and milestone process to manage its strategies. One strategic change that occurred mostly probably due to our involvement was that the company stopped focusing on obtaining larger clients and focuses more on their sweet spot mid-size clients. The owner said it was difficult for him to overcome his desire to focus on larger clients but that mid-sized clients were a better focus for the company to succeed.
Sales Strategy Development
A 300 plus person division of a printing and manufacturing company had no sales strategy to address the major changes occurring in its market. If they continued on this same course they would be virtually out of business in a couple of years.
Growth Strategy Partners pulled together a senior leadership team to address the threat to their business. As in strategic planning, we analyzed market segments, identified the method of competition for their business and identified specific strategies and tactics to turn around the market decline. The division focused their attention on the largest growth opportunities, reorganized the field sales force, customer service and telephone sales by clarifying roles and responsibilities resulting in more time in the field for sales representatives.
A large area of focus was with the Regional Sales Managers. We provided these Managers with a customized sales management course to drive home the macro sales strategy along with identifying specifically what they should be doing to increase revenues. After only a short period of time, each sales region is showing improvement with one region 17% ahead of last year.
“I may just have seen Nancy at her best! What was shared by Nancy and the manner she shared it was exceptional. Nancy had the managers willingly engaged and eager to learn.”
David McConnell, VP Sales, Ames Safety Envelope
“The workshop was fantastic! It singularly was the most comprehensive and reinforcing continuing education that I have received during my time with AMES.”
Karen Jones, Regional Manager
Leadership Team Development
A 100 person design build construction company had grown aggressively in the past few years and the CEO was concerned that the current leadership team would not be able to sustain its growth. The current team had joined the company when business conditions were strong and stable and now with a weaker and more dynamic economy, the company needed a team that could lead in more challenging circumstances.
Growth Strategy Partners approached the challenge with first identifying the strategic ‘seats’ and skills which were needed for the company and then identifying if any of the current team members had these skills. At the conclusion of the evaluation it was determined that half of the leadership team would need to be replaced and that a new position focusing on construction design services was needed.
Over a one year timeframe, a Design Director position was created and filled by an internal candidate and the remaining leadership team positions were filled. The leadership team is now a high performing team and the company is positioned for sustained growth.
Sales Strategy and Effectiveness
A 5 person direct marketing company serving non-profits was challenged with establishing a systematic lead generation campaign along with closing the leads it generated. The company was currently cold calling prospects and then selling the company mostly leveraging its unique design of direct marketing collateral.
Growth Strategy Partners conducted an evaluation of its marketing process along with understanding the results that were expected from the client. As the direct marketing for non-profits was to generate new members or obtain contributions, the client was really looking for a company that could provide a strong return on investment (ROI) on the direct marketing campaign. The good news was that the company had a very strong track record of providing higher than average ROI campaigns.
A marketing system, target prospect base and collateral was created where specific prospects were ‘warmed up’ before being approached for a meeting. This resulted in a much higher introductory meeting rate. At the meetings, the company focused on selling its ROI results rather than its design portfolio and the closure rate increased.
“Through the coaching of Growth Strategy Partners our revenues grew 109% and our profits grew over 1200% from the previous year. We could never have accomplished this so quickly and effectively without their guidance.”
Elizabeth Lyons, President, Lyons Direct Communications
Strategic Planning & Organizational Assessment
This small insurance agency was not showing real growth, but simply increasing revenues in line with premium increases. The owner wanted to double the size of his business but didn’t know if his current team could drive growth. The agency did not have a written plan and a poor track record of implementation
Growth Strategy Partners worked with the senior leadership team to develop their first strategic plan that focused on growth, leveraging the strength of their best market niches and their proven method of competition. Once the plan was complete and communicated to the entire organization, we continued to meet with the leadership team monthly to ensure they were on track to accomplish the goals and action steps outlined in the plan.
Four months later, the company had accomplished their goal of increasing the number of policies, the action plans were all on track and one of the senior team members was given sales coaching to help develop new selling skills.
