Sustaining Profitable Business Growth: Print company dramatically improves profitability
A print company had achieved significant growth in its first 3 years of operation. Existing relationships and referrals had made this possible. Growth had started to slow down but increases in operating costs didn't. Profit was getting squeezed. The owners could see the situation was unsustainable.
After a period of rapid growth it is important to take time out and consolidate the business. Eyes Wide Open was brought in to work with the owners to conduct a full business review. We started from the outside and worked in.
Initially we conducted the Strategy Identification process to ascertain the senior management perspective of what was happening in the business and where it was heading. We then conducted research with clients to gain their perspective. We also conducted internal interviews to map internal activity and determine their understanding of the future of the business. As a result of the process the client was able to:
- Identify which clients were the most valuable to the business and would support the future direction of the business
- Understand what aspects of the print service clients really valued and how that value can be enhanced
- Identify which other companies are likely to value the service in the same way and develop a list of prospective clients
- Clearly map the workflow from initial contact with clients through to order fulfillment
- Identify bottlenecks and gaps in that workflow that were causing inefficiency and client frustration
The process has provided immediate and long-term benefits to the client. It has enabled the client to achieve the dual goals of increasing sales while also reducing operating costs. The business is operating in more planned and focused manner, which in turn has increased the involvement of staff and reduced stress in the business.
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