Award Winning Creative Company Increases Revenues 300% within 12 Months
Sector: Creative, Web & Digital Agency
Location: Northern Ireland
Service: Commercial Leadership Programme
Challenge: Reduce costs, Increase profits in existing services and identify new revenue streams
One of the largest design companies in Northern Ireland had the same trials and tribulations as many growing businesses in the Creative Industry. In short, the owner was working long hours, was stressed and in effect was just working to cover his staff salaries. He was neglecting himself and his family by working ‘in’ the business and not on ‘leading’ the business. They were uncertain what was the best direction for the business to follow – but it all became much clearer after our first few meetings.
I initially spent time helping the owner develop a vision, strategy and an action plan so he could really focus on business growth and the results more. And importantly, communicated clearly to all his team to increase motivation and build momentum.
They then worked on how the firm manages clients, so they get more value and improving processes so client service could be enhanced. Over the coaching we also;
- Established measurable goals for their businesses.
- Set in place strategies to achieve these goals and realistic deadlines
- Identified their roadblocks to success.
- Dissected their market and defined their services clearly
- They re-organised their business and changed the way they worked.
- They started measuring the results across existing and new clients
What they’ve achieved after just 12 months is incredible, their growth rate has accelerated, they are picking up higher profile clients and most importantly the team are all enjoying the challenge. They also;
- Discovered hidden assets in their products, services and their market position
- Reviewed pricing models and increased prices across all products
- Upsold and cross-sold to their existing client base
- Developed clear KPIs for all the team
- Re-wrote their sales process and create new sales templates
- Created and designed a client proposal with clear T&Cs and payment terms
- Created an innovative innovative marketing plan to approach new higher fee paying clients
- Developed clear case studies to illustrate their expertise to win business
- They felt in control of their businesses and they found they had more time to work ON their business.
- Applied and successfully won three leading design and business awards
- Secured Invest NI’s GAP Funding and Job Fund to assist them grow the business.
…and this is what allowed them to make more money by working less, and with less stress! There is nothing magical about what these owners did, but there is a formula, a system, that they followed, that you can follow to reduce costs, increase profits in existing services and identify new revenue streams
Business Growth Achieved – A 300% Increase in Profits
The numbers say it all, they have seen a 300% increase in profits and they project more increases for 2016 – the owner and the entire team are feeling very positive about the future. As a consultant himself, he really appreciates expert advice and idea sharing is the key to business growth.
Do you fully understand the Creative Capital or Creative Value in your Business?
You will fully appreciate that when creativity is valued its capital gains most when it is managed and made purposive. Business Consultancy uncovers the intellectual assets that lie hidden in client’s product, services and companies. As the above case study shows – business coaching is one of the most effective means of uncovering these ‘hidden assets’ in the minds of creative workers – and therefore a vital way of increasing the value of your creative business.
Your Next Step to Increased Profitability
Would you like to be our next success story? Call Ann today on 07725052349 to discuss I can assist you to reduce costs, increase profits and identify new revenue models