Case Studies

Case Study 1: Framing Contractor

Scenario:

Framing contractor, providing mostly commercial framing services, generated 1.5 million in annual revenues and 3% profit. The owner was working 70+ hours per week and had a high level of employee turnover. Employee productivity issues were costing the company 5-6% each year. The owner's wife was the biggest advocate for getting involved with Manifest. She wanted more time with her husband.

Solution:

We assisted the company in completing a business plan and established monthly and annual budgets. Each customer was profiled against a profitability model and customers that didn't fit the business mix were let go. Eventually, about $300,000 in business was cut because it didn't meet the profitability requirements. Job descriptions were established for each employee and compensation programs were implemented to reward productivity and performance. An aggressive marketing and sales campaign was also developed and implemented.

Result:

Over a two-year period, the company grew from 1.5 million to over 13 million in revenues. Profit margins tripled, even with additional management. The owner soon moved to a three-days-per-week schedule and spent most weekends at his summer home with his family. His wife was ecstatic. After the second year of working with us, the owner was able to take home almost one million dollars.

Case Study 2: Photography Studio

Scenario:

Photography studio was in business for over five years with both of the owners drawing only minimum salaries and no profits. They perceived their business as being price driven and constantly found they were lowering fees in order to get new clients. Long hours and low wages were making their business, and lives, miserable.

Solution:

We helped the company develop a business plan and budget, and set targets for both revenues and profits. The most significant change was adding a value-driven sales process to the business mix that enabled the company to create a more consistent, profitable flow of work. In addition, an organizational chart was developed and company policies and procedures were established.

Result:

Increased prices by 25% and closing rates by 42%. Hired an additional photographer to reduce the owners' hours and increased owner compensation by 80%.

Case Study 3: Flooring Contractor

Scenario:

Flooring contractor in business for over 50 years. Profits had been stagnant and revenues were declining. The owners had no idea what profits actually were until reviewing year-end reports for taxes.

Solution:

We initially worked with the company to establish a budget and pro forma financials. Weekly flash reports were created to provide the owners with financial data and performance targets. The company's debt was restructured and job descriptions and policies and procedures were formalized. Management began holding weekly meetings to review results and course corrected more frequently. The company began having regular sales meetings and developed a customer follow-up program.

Result:

Business increased revenues by over $700,000 the first year. Profits increased by $282,000. Vendor debt was restructured and all vendors were completely paid within 12 months.

Case Study 4: Window Cleaning Service

Scenario:

Window Cleaning Company was a one-man operation. The owner did all of window cleaning in addition to handling sales, bookkeeping, and every other business duty. Revenues averaged $2,000 per month. The company had no business plan, no budget, and no strategy for growth.

Solution:

We assisted the owner in establishing an aggressive business plan and growth strategy. An alliance was created with other contractors and service providers that complimented the window cleaning business. A sales program was created and sales scripts and training were implemented. The company's brand was developed along with new marketing materials. Finally, a one-time service program was converted into an on-going maintenance program.

Result:

Revenues increased from $2,000 per month to over $18,000 per month within the first six months. The company hired three full-time employees, purchased new vehicles, and established ongoing relationships with several large accounts. The owner was able to reduce his hours by 30% and currently spends most of his time managing the business rather than cleaning windows.

Case Study 5: Telemarketing Company

Telemarketing company with a closing rate on inbound calls of less than 12%. The company was profitable, but the owners felt it could do better. They aimed to increase employee retention and achieve a 20% closing rate on inbound leads.

Using our proprietary Value Quotient approach, we developed a custom sales training program and documented each step of the sales process. Employee training was implemented and results were tracked. Revamped compensation schedule to reflect management expectations. Consulting team monitored calls and trained new hires.

Result:

Increased closing rate to 30% within three months. Top performers consistently closed at 65-80%. Increased employee retention by over 25%, twice the industry average. Profits tripled within two years.