National marketing organization, 10 million in sales
Opportunity/Problem
This company hired a new CEO from a background of Fortune 500 size companies. He initiated a very comprehensive and expensive marketing campaign that led to huge debts for the company. He also created a well-meaning agenda to convert the company to his own vision.
Engagement
Broad Insights conducted an analysis of the operational and financial situation, which revealed that their path was not affordable or sustainable. We helped the founder and owner return to CEO and restructure the organization.
Results
With assistance from Broad Insights, the business turned around from a loss of $600,000 the year prior to coaching to a positive profit of $600,000 in the first year, $1.2 million in the second year, and over $2 million in the third. Key elements to achieving these results were financial analysis, clarifying the vision of the owner and founder, and recognizing that he needed to maintain steering control of the business.
$50 million distributor in SE USA, profitable and growing
Opportunity/Problem
The new CEO of this company inherited ownership from the previous generation, but with his technical background, needed help growing into the leadership role. As he adjusted to his new position, the employees felt uninformed and tension grew between the sales force and support teams.
Engagement
With consistent coaching, the CEO became better at delegating, solidified the support and sales teams, and made personnel changes to improve quality of management. He began to measure employee engagement and saw significant improvement in employee morale, sense of understanding the company, and unity between internal and external teams.
Results
The company enjoyed double digit growth during our Broad Insights coaching while improving employee engagement and management effectiveness.
A family operation in Midwest, $12 million organization
Opportunity/Problem
During a generational transfer, a benchmarking study of peer companies revealed that costs were 13% above benchmarks.
Engagement
Broad Insights intervened, significantly reduced the three major areas of cost, and created a monthly financial review and monthly management meetings.
Results
The company gained clarity about strategic direction and implemented financial controls and policies. Clear performance metrics emerged, financial results improved, communication became more open, and financial discipline across the organization significantly changed.
$8 million manufacturing organization
Opportunity/Problem
This company offered great quality products and good customer service, but lacked energy, retained marginally effective employees, and had been stagnant for years.
Engagement
Broad Insights coached the president and chief shareholder, later adding a fractional chief sales officer.
Results
With coaching the company began to see improvements in internal accountability, directional clarity, and management effectiveness. The fractional chief sales officer helped the team start prospecting and enhanced customer service, which led to double digit growth in sales and profitability in 2017. Through aggressive personnel management and efficient internal operations, the company has seen 10X growth over last year’s profitability.
$10+ million pipe company
Opportunity/Problem
This company enjoyed wonderful market share and offered great products, but the organization was dysfunctional. For example, the dispatcher refused to talk with the plant manager unless absolutely necessary.
Engagement
Broad Insights coordinated and facilitated a weekly production meeting that included the quality manager, general manager, logistics manager, and other key leaders.
Results
Through this meeting, we significantly reduced tension between departments. The company saw production changes reduced by 22% at one plant and 23% at another, which in turn led to reduced overtime. By tracking the changes to the production schedule as compared to previous years, we calculate that the annualized impact of the meeting alone is $400,000. It also improves customer service and delivery accuracy.
Leading member of the tech and creative communities
Opportunity/Problem
This client needed a strategic marketing plan and requested Broad Insights facilitation.
Engagement
Broad Insights led a Marketing Summit with all critical players on two days (one week apart).
Results
The team identified 11 key observations regarding their current marketing posture and agreed on 4 specific, measurable, achievable, results-focused, and time-bound strategic marketing objectives, as well as 24 supporting initiatives.
The company acknowledged that one of their three main services was unprofitable and agreed to retire marketing that service. This was a radical and profitable change for the business. The Broad Insights coach then coached the Vice President of Sales & Marketing through plan execution. Broad Insights continues to provide ongoing coaching for the VP of Sales & Marketing and the COO. The coach also facilitates the company’s annual strategic planning and quarterly reviews, annual employee engagement surveys and initiatives, and regular customer service and satisfaction surveys. The coach facilitated the company’s vision and mission statement creation and has provided ongoing coaching services for key employees.
The company sales and profits have increased by 20% per year since retaining Broad Insights.