Our mission as Visiting CEO™ is to work with you on a peer-to-peer level to transform your talent into wealth. We restore and increase profitability in your company. Here are a couple of case studies. See also testimonials on our testimonials page.
Case Study 1: Turnaround of A High-Tech Company
This high-tech company, filled with highly skilled engineers doing work very few others can do, was in a severe financial hardship when we arrived. Declaring bankruptcy was an option that was discussed more than once. Working with the company's team, we jointly got the company not only to survive but we significantly increased revenues and profits during an economic time when many of their competitors went out of business.
Here are some highlights:
- Increased revenues by 41% during a catastrophic economic year.
- Streamlined operations.
- Established pricing SYSTEM for complex engineering driven work.
- Assessed which clients are most profitable and established an ideal client profile.
- Established sales & marketing FOCUS and STRATEGY.
- Coached highly technical staff in selling their expertise, focusing on BENEFITS, not just features.
- Coached for improved team communications and culture.
Case Study 2: Saving The Innovator’s Company and Its Revolutionary Mission
A world-class innovator with a 50/50 partner and a small team of high-tech staff was creating revolutionary software. The market for this technology is large and worldwide. The opportunities are great!
However, there was a pressing question on who should lead the company as CEO going forward.
Previously, the innovator had started another software company. His partner brought in a famous scientist as their CEO, in part in the hopes that this person would fulfill their promise of raising substantial investments for the company. However, eventually, the CEO decided to fire the innovator out of his own company! The company could not be successful without the vision and technical expertise of the innovator and went out of business. Many of millions of dollars were lost, and the innovation did not make it to market.
This disaster was caused by multiple factors:
- The CEO was not properly vetted. Expectations for what he was supposed to accomplish were not clearly articulated.
- There was no definition of which roles the company needed, and what responsibilities each role entailed.
In the new company, Visiting CEO™ was able to help the innovator not to repeat this costly mistake. At the point of time when we were asked for help, an unfavorable and potentially devastating situation was already unfolding. A person who had been hired into a business development role had been considered as a candidate for becoming the CEO. As time went on, the person was expecting to get this post - all the while, it became increasingly obvious that the person was not a compelling face of the company. He could not tell the vision of the company - rather he would twist the vision to what he thought the particular potential investor wanted to hear. The founder didn't know what to do - he didn't want to lose the person as team member altogether. He also was not sure whether he himself was a suitable CEO.
We did two months of confidential 1-on-1 coaching with the CEO to work through the issues. He gained clarity on what he wanted and needed to happen. Then, the team went through a Fresh Eyes Assessment™. We also assessed the top talents of each team member, using a 20-minute online Talent Positioning™ tool.
Following the assessment, the team underwent a process called "Ideal Company Structure". During this facilitated process, the team itself designed which roles with which functions the company really needed. Importantly, this process was done from a “blank slate” perspective. As a result, the team communicated about their company, the roles and all they entailed on a much deeper level than ever before. There was no question that the founder was the visionary of the company. It was decided that the visionary's seat should carry the title of "CEO" - he was best suited to be the face of his innovative company. The other person was found to be suitable as "conductor" - the person who functions as "glue" between all team members and between the visionary and the team.
The innovator also graduated from the Top-Notch CEO Coaching Circle. It helped him tremendously to grow into the role as CEO.
The company functions very well now and has gained markedly increased business in multiple countries. Importantly, the immense talent of this innovator and his team is now benefitting people around the world.
The Return-on-Investment (ROI):
The ROI was staggering. We saved the company, preventing a loss of millions of dollars.
Talk to us about how affordable it is to get your company onto an optimized track like we are describing here. Ask yourself: Can you afford not to do this?
Case Study 3: Realizing Employee Ownership At Its Best
This high-end construction company had grown by a huge factor over the course of 23 years, yet two large setbacks created severe financial hardship. The company had implemented an ESOP (Employee Stock Ownership Plan). However, many of the employees didn’t understand yet what employee ownership really meant to them and which opportunities it offers them.
The owner set several goals:
- Return the company to profitability and regrow the value of the company
- Implement an employee owner mindset
- Retire in two years
- Identify a successor (which was tied to the question whether the new leader would come from within the company or be recruited from the outside)
Within only 6 months of part-time effort, we were able to successfully address all four of these goals.
- Regained and enhanced profitability within less than 6 months.
- Uncovered overlooked, yet readily implemented opportunities to convert problems to profits via our Fresh Eyes Assessment™.
- Created a system for consistently estimating job costs, preventing profit losses of millions of dollars.
- Improved hiring practices and created awareness around the need to train even experienced new staff in the company’s practices.
- Restructured and refined the sales & marketing strategy, focused on attracting the ideal clients while avoiding wasting time on others with little or no return (often even with negative return).
- Increased sales closing ratio. Identified that job estimators are not necessarily the best sales people and vice versa.
- Implemented a productive ESOP culture and shifted mindset from an attitude of entitlement to a mindset of being responsible, self-initiating and more owner-like.
- Eliminated company conflicts through resolving confusion in the leadership structure and accountability issues.
- Developed new leadership skills within the company and coached employee owners to take on more responsibility and initiative.
- Enhanced profitability and even work-life balance (and hence reduced employee turnover) through training on how to conduct effective meetings.
- Created and conducted critical training customized to the client company and the style of their employees.