- Reoriented a small manufacturing company that was floundering on the shoals of a depressed market. Result: A dramatic turnaround from the verge of bankruptcy to the third largest and most successful in its home state among a group of peers numbering over eighty. Keys to Success: Careful assessment of the market to identify opportunities for growth; consolidation of three manufacturing sites to two for efficiency; and an intense marketing effort to diversify the monolithic customer base, thus reducing market risk and sales volatility.
- Engaged to help an owner resuscitate the operation of two failing retail clothing stores, we instead suggested and successfully administered their closure. Result: The owners were able to extricate themselves from an unpromising situation on the most favorable terms possible. Keys to Success:Breaking through the owner’s emotional ties to the company by providing realistic, persuasive analysis of the real potential, providing fair and reasonable analysis of the competition, and renegotiating onerous lease terms.
- Crafted a business plan for a manufacturing start up in a highly competitive market. Result: Company obtained previously denied financing with SBA guarantee and became the principal player in a multi-county market. Keys to Success: Sound market analysis, documented assessment of competition, a comprehensive business plan and effective integration of automated efficiencies.
- Developed for a housing industry trade group a long-range business forecast to guide planning. Results: Among other significant findings, accurately predicted four years in advance the collapse of new housing construction, allowing attentive followers to adjust their business plans and offset potentially serious losses. Keys to Success: Thorough analysis of the industry, insightful identification of the critical predictive indicators, and persuasive presentation of the data.
- Turned around sales in a mature company that found itself on a multi-year plateau after coasting on past successes. Result: A 7% gain in sales within six months and an 18% gain in profits the first year. Keys to Success: A fresh, objective perspective that broke the “business as usual” mentality, intensive training on complex sales and “value” selling, and workshops on prospecting in traditional as well as non-traditional markets.
- A manufacturer with direct retail sales outlets requested assistance developing an aggressive growth plan. Result: Added a new line of related products dedicated to a wholesale sales channel that pumped up revenues by 28% in one year. Keys to Success: Keen sector analysis to isolate wholesale market opportunities, classification of the key qualifications required to sell into the new sales channel to assist in the hiring process, and training/coaching on complex selling for the sales force.
- Mentored a business owner who required assistance to prepare his company for sale and coached the ultimate buyers, who were new to the industry. Result: After eighteen month “dress up” period, the business was transferred on favorable terms for the seller and the buyers were able to transition successfully in an untried industry. Keys to Success: Thorough industry research, a trustworthy reputation, and confidence-building exercises.
- Successfully brokered a $1.2 million private equity bridge loan for a fully-leveraged, high tech mid-cap start up that was preparing for a public stock offering with insufficient cash reserves. Result: A successful public offering within two years, with a 560% return to the lender within four years. Keys to Success: Thorough due diligence on the borrower to assess risk and careful screening of the lender to ensure an appropriate match.
- Introduced process improvements in the production line of an established company to reduce a defect rate that was greatly eroding profits. Result: Reduced production defects by 38% and reduced quality losses by 69% in less than one year. Keys to Success: Educating line personnel on best practices, developing teamwork problem solving, and training managers to implement continuous improvement.
- Adapted lean manufacturing concepts to a manufacturing company that was laboring with a poorly organized plant and a production processes that lacked integration. Result: A 15% efficiency improvement in the company’s principal production goals. Keys to Success: Introduction of the “five S” concept to line workers, training of managers, and hands-on demonstration of the techniques involved.
Now, what can Wingspan do for you?