Case study: Creating accountability and owner choices

Overview: $20m founder-led business in the entertainment industry. Facing industry disruption. Established a clear functional structure which created team accountability. Founder now has exit options.

Issues addressed

  • Family owned business, regarded as the industry leader
  • Significant disruption in the industry. Barriers to entry were falling, resulting in consecutive years of falling sales and profitability
  • Limited team structure, resulting in a culture of low accountability, and ineffective/inefficient work practices
  • Everyone looking to the Founder MD for feedback & advice, resulting in ‘overwhelm’
  • No plan for succession for the business, and unclear how the Founder MD could disengage from the business
  • Intuitive approach to capital investment,  loosely linked to revenue.

Actions implemented

  • 2-Day Strategy Offsite to clarify and align the company’s strategic direction and project priorities, followed by a program of regular implementation meetings
  • Functionality review conducted, resulting in clear job descriptions, KPI ‘s and increased personal accountability and Clear workflow practices established
  • Senior leadership team established, and coached on their responsibilities to lead and mentor others
  • Revenue focus established, with client review process
  • Advisory board established incl. coach and external accountant.

Results achieved

  • Turnaround in sales and profitability. The business is now growing again
  • A clear team culture, with accountability at its core
  • Significantly improved team morale
  • Leadership team in place with founder MD significantly freed up from day to day team management, and able to refocus on new product opportunities
  • Founder exit now possible (offer received).