The owner admits that he was an accidental entrepreneur, originally purchasing the business because he wanted to be his own boss. He realized quickly that he lacked the knowledge and skills to lead and grow the company. The family-owned business had no infrastructure and there was no one else internally to run the operations. His Controller was not trained to share the financial picture and lacked the skills to be part of the leadership team. Recently, one of his children expressed interest in running the business to ultimately assume ownership however, his current role was not defined, nor did he currently possess the necessary management and leadership skills. Issues with a lack of accountability, communication and trust distracted the owner’s focus from scaling the business hampering his goal to transition and ultimately, retire.
TRILOGY GUIDED SOLUTIONS:
- Current and future organizational charts to gain a clear picture of the leadership needed to scale the business.
- Trilogy leadership coaching for the owner to improve management and communication skills.
- Hire an Integrator (COO) to align business processes and help with the day-to-day management.
- Trilogy coaching to train the Controller to provide clear and timely budgets along with meaningful financials.
- Define son’s role; begin Trilogy coaching and mentoring from the Integrator to gain the necessary skills to run the business.
- Once infrastructure is in place, engage Trilogy to support molding a more professional culture.
- Organization tripled revenue in 4 years and the goal is to double in size in 5 years.
- Cash flow has improved, and company is growing with higher margins and net profit.
- Business has grown both organically (new services) and geographically and the owner is looking to purchase an additional company.
- Owner admits that Trilogy helped challenge his way of doing business, addressing negative habits and behaviors to push him beyond his comfort zone.
- Trilogy helped hire an Integrator, allowing the owner to define his purpose as the Visionary.
- The Integrator, along with assistance from a new Operations Manager, has allowed the owner to step back from daily operations.
- Financials are reviewed in a consistent, timely manner and action is taken to improve unfavorable variances.
- Son is thriving in his marketing role and is developing critical leadership and management skills.
- Leadership team is unified by the understanding that a more accountable, professional organization and a culture of communication, healthy conflict and trust will result in a prospering, sustainable organization.
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