North America

Success Story

Research business with no succession plan sold to large international business

An established business was experiencing high staff turnover, limited systems and an owner who was looking to hand over the reins. ROCG was able to introduce formal management system, delegated the owner’s duties and implemented business development strategies that ultimately resulted in the sale to a large international company.  

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Where The Business Was

  • Business established for 20 years
  • Research organization with an annual revenue of $2.5 Million

Problem

  • High level of staff turnover and loss of corporate knowledge
  • Limited systems in place
  • Managing Director / Owner was not enjoying the demands and was looking for a way to hand over the reins

Solution 

  • Introduce formal management systems
  • Reduce the demands on the Owner by delegating to Divisional Directors
  • Improve team retention by making Divisional Directors more accountable for business development, staffing, direct costs and key deliverables on a project by project basis
  • Systemize operations to improve sales and make the business more attractive for sale

Implementation

  • Facilitate Board of Management meetings
  • Develop divisional business plans
  • Implement delegation systems and management accountability
  • Implement knowledge management systems to ensure retention of corporate knowledge
  • Implement job descriptions standardization
  • Identify up-and-coming leaders and mentor them into leadership roles
  • Place senior team on incentive and performance based contracts

Results

  • Vision for the business was developed and implemented allowing team members to work towards business goals that they understood
  • Team turnover decreased with the delegation of additional responsibility to team members who felt satisfied that the changes were leading to improvements
  • Revenue increased when divisional business plans were developed in conjunction with the team
  • Owner was able achieve his personal goal to exit the business when it was subsequently sold to a large international company

Summary

  • Where the business was:Research organization turning over $2.5M
  • Problem: High team turnover, no succession plan, no systems
  • Solution: Develop succession plan, create and implement systems
  • Implementation: Delegation systems, business plans, management meetings
  • Results: Team turnover decreased, increased revenue