Case Study 1: Exclusive Audio, supplier of consumer audio hardware
Although the business was moderately successful, the business owner experienced cash flow problems and relied on an overdraft to cover expenses. Growth was slow, which indicated marketing problems.
- Identified business vision for clear direction;
- Calculated break-even point and implemented weekly reports to monitor key performance indicators (KPIs);
- Set realistic sales goals and provided sales manager training;
- Changed focus to up selling and promoting high-end audio products;
- Streamlined cash collection process and improved relationships with debtors to ensure timely payments;
- Identified target market and formulated new marketing plan; and
- Improved online presence with new website and online marketing strategies
The client’s cash flow improved within two months, and he stopped using his overdraft within six months. Sharing the business vision with his team improved motivation and performance, as did setting attainable sales goals and providing relevant staff training. Monitoring KPIs allowed him to keep his finger on the pulse of the business and rectify problems before they come serious. The new website shared the company vision with customers, educating them, producing more leads, boosting online sales and increasing footfall in the store. After business growth of 25% within the first year, the client expects an additional 20% growth in the subsequent year.
Case Study 2: Mr Crumb, supplier of award winning convenience foods
The client found it difficult to motivate his managers and employees, and this led to poor performance and reduced productivity.
- Established a business vision to inspire employees and ensure important decision take the company in the right direction;
- Developed client’s management skills, focusing on influencing others;
- Worked on communication skills to improve relationship with staff;
- Created manager and employee team building and training exercises;
- Implemented staff incentive schemes; and
- Formulated employment policy and identified required employee skills and characteristics.
Because the business had a clear vision, managers and employees knew what the client expected and made decision that steered the company in the right direction. Improved managerial skills allowed the client to influence his team, keep it motivated and resolve internal issues quickly and effectively. The team-building and training exercises improved team spirit, kept employees interested in their work and made the staff feel valued. Incentive schemes, which included additional days off, meal and activity vouchers and monetary rewards for superior performance, improved productivity and created a pleasant working environment. A clear employment policy means that the client recruits and employs people who are good for the business, the team and the bottom line.
Case Study 3: Polish Bakery, supplier of Polish baked goods available in most major retail outlets
The client needed to identify his target market and formulate an effective marketing strategy to reach his niche market. He also needed help launching new products and improving cash flow.
- Identified the niche market and its demographic information, needs and desires;
- Formulated an effective marketing strategy, created an advertising budget and explained how to make the most of advertising investment by reviewing returns on investments;
- Explored marketing options, including website, social media, print, radio and television;
- Worked on product placement and launch strategies in terms of marketing strategy;
- Identified problematic business operations and streamlined cash handling procedures;
- Implemented effective cash collection system and debtor controls; and
- Improved invoicing and accounts receivable systems.
Identifying the niche market and its characteristics ensured that marketing strategies were successful. Sales improved and footfall increased in retail outlets, and creating interest in new products ensured demand for them. The client saved on advertising by choosing the most effective forms for his business. Polish Bakery products are available from numerous retailers, and improved cash handling, cash collection and debtor controls meant that the company followed up on outstanding invoices as soon as they became due. Similarly, improved invoicing and accounts receivable systems prevented delays and greatly improved cash flow.