A technology company approaching $40M in revenue was still being run by the entrepreneurial founder on the verge of retirement. During the company’s fast growth stages, his “shoot from the hip” approach led to success. By the time we met, the company – now in a maturing and highly competitive industry – had a management team who was reluctant to put forth new ideas because the founder would shoot them down. Execution was haphazard because there was no agreement and commitment. Morale through the ranks was low, and many customers were less than delighted. It had been more than 5 years since they had had a strategic plan; budgets yes, but no truly strategic focus.
The Pain Point: Unaligned executive team with no plan for growth and poor accountability
Orchard Advisors’ Approach
I met with the leadership team. The first task was to get them talking, to critically survey external trends and identify opportunities in the market – understand what would be required to successfully compete. Last, they needed to be willing hold each other accountable for executing on their priorities. I solicited their hopes and frustrations and began creating a culture of collaboration. Over a five-year period, we met quarterly to review progress and challenges, and establish strategic priorities for each quarter. I helped them re-articulate their competitive advantage and re-structure departments based on their new understanding. I facilitated numerous decision-making and problem solving sessions including, departmental restructure, acquisition process, and platform migration.
- Revenues more than doubled – EBITDA grew dramatically
- Increased customer satisfaction
- Increased productivity by several measures
- A more effective and satisfied management team committed to the company’s success