Success breeds success
The six entrepreneurs featured in my Tales of Success series all had one thing in common – they were dissatisfied with their businesses performance and shared a burning desire to do something about it.
“I wanted to get my business in shape to grow” – Rob Brocklesby of Brocklesby Ltd.
“We had slim profits on sales and were just ticking over and I was determined to sort it” – Mark Eggleston of W. J. Components Ltd.
The solution was to utilise my Step Change process and the starting point was to identify where they wanted to be in the future. They had to ask themselves: “What will success look like in X years’ time?”
By getting their businesses in shape in the first place they had options, such as enjoying a much more successful business, selling it or undertaking a management buyout.
Once they had determined where they wanted to be, the next step was to identify the three priorities they needed to address to lay the foundations for their continued success.
Sometimes the decisions that need to be taken are not easy to make, for example changing some people in key roles to make sure you “get the right people on the bus”.
Mark Eggleston’s solution: “We dropped traditional loss-making products, sold the plant and reinvested in more profitable and growing products.”
Rob Daysley at Designs Signage Solutions Ltd reported: “We identified three projects to work on: partnering with customers, improving systems and controls and building a sales generation system.”
William Le Fevre at William Morgan Group said: “The three projects were improving our performance, engaging effectively with employees, and delighting our customers.”
The next step was to mobilise project leaders to work on the three projects. To facilitate this the Leader needs to “let go to grow”, delegating responsibility to others to work on, as opposed to in, the business.
Rob Daysley was very pleased with the outcome: “All three projects produced results beyond our expectations and the bonus was that the process developed our people who have since gone and delivered great results on other projects.”
Other successful entrepreneurs experienced other benefits from the process.
Rob Brocklesby said: “Our culture has changed – we keep it simple now and we have learned to focus on the things that drive our business success”.
Martin Lauer of The One Point said: “Everybody now lives our values and that has transformed our culture”
The big question is whether my Step Change process delivered the results the six businesses leaders sought. Here are some answers.
Martin Lauer: “ Since working with David our sales have grown 550 per cent and our profits six-fold.”
Rob Brocklesby: “Turnover has improved from £25m to £80m and our profits are very healthy.”
Mark Eggleston: “Sales have grown four-fold and we made a profit of £1m for the first time.”
William Le Fevre: “Our sales have gone from £50m to £250m over the past nine years.”
But this isn’t some big, back-slapping session. It helps the business to revisit great achievements, and now those entrepreneurs have reflected on the results they’ll be thinking about next steps.
So am I and, driven by social media stats which suggest Tales of Success have inspired others to do the same, I want to find the new entrepreneurs who know they can be bigger and better, who want to emulate the success achieved in these example but who need a bit of help.
If you’d like to talk through some of the techniques that could work for you give me a call on 07710 914171.
Share this post: