CS No. 97014 – Softura Inc. a $5M software development company in Novi MI.
The Engagement: Coaching a successful entrepreneur to become a highly effective CEO. To support his effort to build a high performance management team.
Since its inception in 1996, the company had struggled to break the $1M mark in revenue. The management team was facing some of their biggest challenges yet:
- How to break the $1M mark
- How to expand the management to fulfill on all of the company needs
- How to build a sustainable sales force
- How to repackage the company’s service offering in the most effective way
- How to organize the company’s internal operation support
The Predictable Future:
The lean management team will keep operating most of the time in a reaction mode to the daily demands with no real planning for future business development. The company will not have an internal support staff to run day to day operations and office management.
- The CEO of the company will work long hours with a lot of stress and remain overwhelmed
- The lean management team will struggle to fulfill all of the company management accountabilities
- The CEO and a senior project manager will be responsible for most of the company sales
- The company will end the year with approximately $900K in revenue
- The company will not deliver significant growth over the past five year period
- The company’s financials will be very tight prohibiting investment in future growth
- The company will continue to manage expenses and payroll on a month to month basis
- The company’s product offerings will be undermined in the market place for lack of marketing support
The breakthrough targets were as follows:
- To salvage the book of business
- To re-invent and re-engineer the program management group
- To increase on-time delivery to 60% in 6 months
- To establish new and renewed communication lines with all customer points of contact
- To increases sales by 25% at year-end
After a year of coaching we produced some remarkable breakthroughs towards the company’s future:
- The CEO of the company reduced his hours about 40% and no longer spends the weekends in the office
- The management team created clear and powerful state of accountabilities that handled all of the company operation without loose ends
- The company now has a sales department; the CEO and senior project manager are no longer the prime sales drivers
- The company will end the year with $1.5M in revenue, about 166% over 2002
- The company created a budget for future business development and has sufficient overhang in operating capital and is no longer “booth scraping” from month to month
- The company’s product lines are well defined, organized and have marketing support
- The company created an opportunity in the market place to become a lead force in off shore application development with a multi-million market opportunity
What did the client say?
“Taking on Transformational Coaching has allowed me to more clearly define my priorities and focus on the parts of my business where it will truly make a difference.”
“Working with a coach for the last 12 months has had effects in all aspects of my life. As the company’s CEO, I find myself focused on what will truly make a difference in accomplishing our corporate goals. I find myself tremendously more effective and at peace with the direction and growth plan of the company. We had very close to a 166% increase in revenue over the same time last year; and we are on track to have an estimated 200% increase next year over this year. Without the coaching it looked impossible and was completely unpredictable. Most importantly, I am finding myself with a lot more time to be with my family.”
“I know this may seem like a small accomplishment but for me it is big. Before we took on coaching when I was at home I was never really at home. What I mean by that is I was always thinking about work and what we had to do there. My daughters would always catch me in my thousand mile stare and say “Daddy, stop thinking about work” when I was with them. For the last 6 months when I am with my daughters I’m actually “with them”. I’m clear that without the coaching I would not have really seen all the great and miraculous things they do, and I would have missed a lot of wonderful times we have together now.”
Mark Murphy – Founder & CEO
Based on the year end financials, the breakthroughs generated out of the coaching were 9 times R.O.I.