The owners of a PR Marketing company turnover circa £150K had had a very successful first year. After investing in an office and new staff they could not understand how the same actions that they had taking in the first year, were failing to produce the results that they wanted in the second. Overal profit had fallen close to zero. In addition sales were actually starting to decline which was leading to serious tension within the management team, and a feeling of unease within the organisation.
The relationship between the owners was becoming close to breaking point.
To enable the individuals to work as a team, raise profiltability initially back to original levels and then further, and finally to increase sales.
1) Initial analysis of the situation
Basically the company didn't have any operating framework with the resultant confusion in who was responsible for what, and everybody attempting to do everyones job.
2) Agreement with the business owners to create a revised business plan and administrative framework for the business
3) Providing coaching support for the owners to develop the plan and for the owners and staff to implement and further develop the plan on an ongoing basis
The owners commited to an initial 1.5 hours face to face coaching session plus and additional four x hour coaching sessions
Mandie has developed her own process to enable company owners to agree and allocate responsibilities between new business development, business fullfilment and essential administration, which she used effectively with this business.
The owners created a vision for the future of the company and shared this with all staff, and asked for their input. It led to an understanding between staff, senior staff and the owners and created a greatly improved environment to work in, because staff knew their opinions were appreciated and would be considered.
The Owners appreciated the untapped skills their staff had and came up with ideas that the owners had not considered.
However the greatest result was that the owners time was freed up to concentrate on what they enjoyed most, developing and fullfilling their customers business rquirements.
In addition the more effecient working had reduced the need for freelances and overtime, improving company profitablily within weeks. Within three months profitabiliy was back to what it had been.
Realising their staff’s potential helped the Owners appreciate that the possibilities for the future of the company were endless. Instead of feeling like their company had lost its direction and purpose they realised that with the support of their great team of people it could far exceed their earlier expectations. And needless to say sales increased. New opportunities and new directions for the company to expand into were established because the Owners took a more proactive attitude to the input and the development of their staff.
The bottom line is that the company is now able to find, bid and win larger and more profitable opportunities putting their initial growth rate back on track and the owners have regained their enthusiasm and passion for the business.
Mandie Holgate is a key member of the Executive and Business Coaching Network (EBCN)
Mandie Holgate's Website