We were visiting a client in Memphis we’d worked with to increase the value of their business and check in on their progress. After a six-month engagement, through their focused commitment they increased their revenue by 11% in the first 6 months, are on a $11MM run rate and reduced their transaction costs by 14% YOY. They reached these targets by refocusing and recommitting to their operating disciplines. They took share from their competitors all while industry sales are down.

We don’t have magic bullets, and we don’t sell vapor! We do offer a proven process to go from where you are today to where you know you must go. It’s how you achieve a sale when you’re ready that delivers on an owner’s goals and objectives. Much of the credit for these improvements goes to the owner’s team for committing to and executing the disciplines. We’re not going to validate what you already know.  Our no-nonsense approach is to listen to what’s working, what’s not working, where you’re filling the gap and where you’re accountable to the operating rhythm, or not.

It’s easy to take your eyes off the ball or ease off the gas pedal. At JSP, we’re as competitive today as we were in our 30’s. For us it’s about beating yesterday, and we want to see you do the same! If you’re looking to tier out of your business one day, whether that’s next year or 5 years from now, you’ve got to cut the strings and allow the business to operate without you – and hopefully better, too. If you, as the owner-operator, are always playing answer-man or approval guy then it’s clear the business is dependent on you.

 

What are the disciplines that worked before and what’s preventing their results now?

 

Where are your people losing focus?

 

How are you challenging your team to think more comprehensively and perform accordingly?

 

Scott and I have spent four decades together in various iterations developing, proving and fine-tuning a methodology and the cradle-to-grave frameworks that deliver results for our clients. Throughout our careers, a central theme has been to be great at executing the fundamentals! The statement holds true in business, also as facts don’t lie!

Whether its strategy implementation, tactical execution, culture influencing, or whatever issue has you stuck, you can’t argue with top line revenue and earnings growth. Improvements in key measurables are influenced when conventional wisdom is challenging ‘how we do things around here.’ When you, the owner, shift your lead to ‘this is how I expect all of us to do things around here’ the result is a huge difference in your team’s operating tempo.

An example is the tipping point for Steve in Memphis realizing he needed to be more transparent, provide clarity and confidence in his team so they could perform to a higher standard vs. doing and being afraid to make a mistake. We challenged him to communicate more often so his team could solve problems on their own. He focused on four core disciplines as the leader:

Share the Strategy. Too many times business owners hoard decision making responsibility thereby handicapping employees making them non-value automatons. Frankly, no one wants to work in that environment. Steve made a conscious effort to communicate more freely – something he butchered initially and eventually found his rhythm. The takeaway his employees grabbed ahold of is Steve admittedly doesn’t have all the answers and he doesn’t have to be the smartest person in the room. That mindset and communication shift began to instill more trust and respect in him as a leader and a level of confidence in the managers.

Share the Direction. His next giant leap was to share with his employees what he wants to see for the remainder of the year, what the next year needs to look like and his hopes for eventually selling the business ‘somewhere 3-5 years from now.’ He didn’t lay out every detail but gave enough insight into his vision that excited his employees for today and a glimpse into the future. Why? They want to see him win and be a part of that. We’re there some nervous nellie’s? Sure. He picked up on that dynamic and began building better relationships with them individually to ease the uncertainty.

Share the Expectations. His team of about twenty employees occasionally would grumble about some manual and ‘uselessly redundant’ systems they’re required to use. Steve threw the challenge to his managers, ‘If you think there’s a better way, then find me something better.’ He had them find 3 options that would work for the business and return with recommendations for which one they should choose. The managers did the research, ran cost benefit analysis, tested several options and within months they brought the best option to Steve.

Steve was thrilled he didn’t have to heap another project over his shoulders and impressed with the level of detail from his team. We challenged Steve to go further and take his managers to task. Steve then told them to now disprove why each option is a bad idea. The tact shifted the mindset of the managers to find out the achilles of each platform as well as smoke out how committed they were to the favored option. Steve ran a beta for several months to gauge customer experience on the new platform with favorable results.

Share the Necessary Speed. The expectation example emphasized to all employees how critical operating at a pace that satisfies customers is a differentiator over their competition.

 

“We were stuck, spinning our wheels and watching thousand-dollar bills fly out the window every week. They gave us a gameplan, a system, that worked within our parameters and helped us deliver on-time, complete and at the margins we must have to succeed and grow.” – Steve Atkinson, President – Kitchen & Bath Distributor

Everyone wants a client like Steve. There are reasons why it might make sense for us to have a brief discussion about how working together may help you with your most ambitious goals. We do what few people do and that’s put the track record to work for you.

ARE YOU READY TO SELL YOUR BUSINESS?

Our initial conversation is complimentary, confidential and we’re not going to sell you anything. You need an impartial sounding board regardless whether you invite us to help you or not. We will listen intently and give you an honest answer of what your business may be worth, why we believe that and what you can expect from a sales process to achieve your goals and objectives.

…the conversation continues…