Strategy & Business Planning

Building Momentum Toward an Ideal Future

Situation

After four years of business, the owners stepped back and took stock of their results and their strategy to move forward. Thanks to a lot of elbow grease, they had built a very successful and profitable business. However, their company's growth had largely come opportunistically, through strong industry relationships. While that's not always a bad thing, opportunistic growth can have a downside. In fact, while they had been busy responding to the latest client who contacted them, the ground beneath their feet had begun to shift. Customer behavior was changing, new competitors were gaining market share and one of the owners was beginning to dream of retirement. They needed a more strategic approach to growth and a plan for the future.

Action

The owners reached out to Quinn Strategy Group to help them develop a business plan. They needed a trusted advisor to help facilitate potentially difficult discussions between the two owners as each developed their plan for the future. Because the owners’ business and personal plans would impact each other, we took a parallel approach. We conducted a scan of the external landscape to identify competitors and important trends within their industry. At the same time, we began discussions on each owner’s goals, financial needs and timeline. Doing this work in tandem created a solid and fully informed foundation from which to set a strategy for the business that would enable growth and allow each owner to pursue their path. The final plan articulated financial goals, business metrics, a new services mix and a go-to-market strategy.

Impact

Our work with the owners brought clarity and direction to the company. The disciplined process we applied allowed the owners to determine a more strategic path forward, rather than bouncing from opportunity to opportunity. This shift in their approach to growth meant they could now be more proactive than ever before, setting quarterly and annual revenue goals, developing a strong pipeline of target customers and planning ahead for staff capacity so that new clients don’t jeopardize their company’s stability. Additionally, they have connected the dots between their business plan and their individual end games – something far too many business owners neglect to do. As a result, they not only have greater confidence in the future of their company, but also in their ability to achieve the personal future they each desire.

Starting a business is a risky undertaking and often owners seek freedom over job security and a steady paycheck. To make it work you must have a good strategy and plan for growing your business in a way that will allow you to realize your vision for the future.

Ann Quinn

410-458-2600

[email protected]