As a director executive I am frequently tasked with supporting businesses as an interim director or manager director. I am often required to appoint an international project manager into the company to aid them overcome the financial tipping point.
I am supplying this interim consulting company service far more to little organization owners who are happy to pay for this kind of executive interim to gain inside secrets to assist them grow their business.
Profile: Director Executive Inside Secrets Of A Manager Director
Organization Case Study Title: A Unique Forces Approach to Quick & Exponential Business Growth
The Assignment: A 16 week interim consulting, interim director enterprise development director position to implement a proactive company growth and expansion plan to improve annual turnover by 50% and increase profits.
This assignment to be conducted at the beginning of the 2008 financial downturn labelled The Credit Crunch by the media.
Interim Consulting, Interim Director Enterprise Background Synopsis:
5 year old British tiny business. Two directors, each retaining a 50% shareholding in the firm.
This small company company had grown organically throughout the previous 5 years but the annual turnover had remained the exact same. This firm had reached the financial tipping point and plateaued.
It was not experiencing any business growth. Both shareholders work in the company. Number of full time employees at commencement of my interim consulting, interim director contract was 3 plus 1 part timer.
The Interim Consulting, Interim Director Issue:
Typical two person partnership run modest organization managed by two quite product knowledgeable challenging working men who had no formal enterprise academic skills. Even though the tiny enterprise had grown organically year on year, it had reached a plateau and hit the ‘Financial Tipping Point’ and was not making any real profit.
Each director executive was particularly focussed ensuring their business maintained its present level of activity.
They both maintained non-extravagant lifestyles and had been really frugal. They allocated themselves a weekly wage not far above minimum wage. Neither director executive had ever received any shareholders dividends or bonuses.
The organization had no company plan in place. Company development skills were non-existent other than the organization had an superb customer service relationship with their clients.
This in turn led to repeat & word of mouth enterprise which fuelled the growth. The manager director and his partner recognised their company academic skill limitations & had been concerned & astute sufficient to seek outsourced interim consulting and interim director help.
This identified the requirement of a skilled interim director to focus on organization development. It is worth noting that the manager director and his partner had witnessed my enterprise growth expertise and international project manager first hand in one more local small business which they provided in-house IT consultancy to.
They were obviously keen to understand the inside secrets of my executive interim appointment to aid a small company overcome the financial tipping point.
The Interim Consulting, Interim Director Challenges. – Limited resources.
- Lack of business qualified support staff.
- Coping with the little organization ‘Just in Time Mind-Set.
- Overcoming the manager director psyche of comparing the salaries of top management to the salaries paid to website employees.
- Being frequently distracted and/or delayed by having to action menial tasks since support staff were unqualified.
Assisting any small family run companies is notoriously difficult. This was an specially tough assignment as it was a roll up your sleeves and get down in the trenches type of operation.
The manager director and his fellow director executive had no business academic qualifications and limited I.T. abilities. The administrators had limited I.T., and virtually no company abilities.
Facilitating change was sometimes problematic as the family directors occasionally closed ranks behind the scenes.
The Interim Consulting, Interim Director Project: An Really Clear Mandate To Grow The Organization. Despite by no means having made a decent profit, the Organization was in reasonable shape and debt free.
It had an enviable reputation for delivering a top quality service within the North West UK construction industry. I recognised the early possible for controlled growth & expansion.
In a really short time scale, an in-depth analysis was undertaken of the organisation, finance, structure and sales & marketing. The intention was to prepare a strategic growth & expansion business plan. The critical areas to e addressed had been swiftly identified by conducting an virtually forensic investigation into the company’s Modus Operandi.
As a former trainer of global Unique Forces personnel it was clear to me that I would have to de-train, and then re-train the manager director and his fellow director executive to become Corporate Unique Forces in order to grow the tiny organization.
As an interim director delivering interim consulting to help a company overcome the financial tipping point 1 has no option but to divulge inside secrets.
My Appointment Brief As Interim Director M.D.
1. Increase the turnover.
2. Increase profitability.
three. Prepare the firm for investment.
4. Formulate ‘Mission Specific’ strategic company alliances.
5. Free of charge up the owners time in order for him to focus on other company activities.
My Director Executive Inside Secrets Action Plan:
1. Complete & immediate immersion in every single aspect of the organization to identify ‘The Way Forward Technique.’
2. Conduct a forensic investigation into monthly expenditure & implement immediate substantial cost savings.
three. Entirely re-structure the business from a little company to a medium size enterprise.
4. Prepare the firm for change and manage every step of the change very carefully to make certain success.
5. Fire all inherited underperforming and/or unqualified consultants, i.e. advertising, PR & company to business, etc.
6. Outsource immediate organization consultancy to identify extra revenue generation schemes.
7. Hire the proper kind of management personnel who brought added value to the firm. i.e. Former bank manager as full time finance manager. Former Region Director of a PLC construction firm. Senior Estimator from a huge UK construction company.
8. Address non existent high quality assurance problems.
9. Obtain numerous company development financial grant subsidies.
10. Prepare the enterprise for investment. Director Executive Inside Secrets 2nd Phase of plan. After 12 weeks as Interim Director M.D. the shareholders recognised the value in the interim consulting small company service I had brought to the business.
The former director executive realised his business had been on track for growing beyond the financial tipping point.
I was asked to join the firm as their Enterprise Development manager director to continue managing the growth & expansion of the business. I anticipated a 12 month contract.
Director Executive Inside Secrets – The 1st Year Outcomes.
1. Increased core business turnover from £1.6 to £2.4M.
2. Formulated a new secondary revenue generating E-commerce enterprise, which blasted each month’s financial target out of the water. Business was rapidly developed from a conceptual idea to generate extremely high turnover of £2.5M per annum.
three. Positioned the business to win main PLC contracts. Signed a three ‘year preferred partnership deal with a PLC which guaranteed a minimum of £2.5M over a three year period commencing Might 2008. This created long term income stability.
4. Increased work force from 20 to 55 in 12 months.
5. Positioned business for a £5M annual turnover in 2009.
6. Awarded best plumbing & heating firm 2007.
7. Awarded Investors in Men and women & ISO9001.
8. Achieved all 5 elements of my company brief.
Director Executive Inside Secrets – The Key Lessons.
1. Business standardised structures, i.e. pyramid, matrix, divisional etc are not constantly suitable for each and every organization.
2. Opening up a clear & concise communication chain bridge between directors, managers, office & web site personnel keeps everyone motivated & committed.
three. Delegate and monitor/control as a lot as possible to make staff responsible & involved, (motivated.) Feedback is crucial.
4. Create shared objectives for senior managers & not individual objectives which could conflict with other manager’s objectives.
5. Conduct full and in-depth due diligence prior to hiring every single outsourced consultant.
6. Don’t allow senior management’s ignorance of new technologies to inhibit growth from other revenue generation streams like E-commerce web based sales.