Business growth stalling due to Founder(s) / Owner Manager(s) bogged down in day -day tasks
Two Engineers, experts in their fields and with significant management experience, founded an Engineering business in their "shed". The business grew quickly and traction achieved with major companies.
Growth started to stall as both the founders were becoming increasing bogged down in Finance, HR issues, system implementation and red-tape. Clients were no longer receiving the attention they required, the sales pipeline was deteriorating and costs were increasing.
The founders knew what was required but neither had the time to perform themselves nor the financial resources to bring in full time functional managers.
situation
SOLUTION
Steven came on board on a part-time basis and quickly took responsibility for Financial, HR and QHSE Management.
Steven implemented systems, pragmatic processes and leveraged lower cost internal administration support. Critically, Steven provided the financial visibility required to make more informed decision making and manage cost.
Steven also implemented more robust recruitment and onboarding processes in addition to supporting line managers with staff performance management. Steven also constructed an agile engagement system to improve the traction staff had with the business.
Steven also gained ISO accreditation for 9001:2015,14001:2015 &18001:2007 on first attempt.
Finally, Steven helped recruit and onboard a full-time management team as cash-flow and profitability improved and help integrate them into the business, it operational model and culture.
OUTCOME
Both founders were released to focus on both Business Development, Sales, Product Development and supporting the Engineering/Operations team. In effect, leveraging their core strengths and interests.
The business increased revenue by 92% prior to on-boarding a full-time team.