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| Case Studies |
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Capture Market Share |
Client: <$1MM non-profit commercial staffing firm in a major metropolitan market. |
Challenge: Management needed a plan to increase market share. |
Solution: BCP conducted a market research in the 17 counties beyond the existing location that the organization had license to do business in, determined best opportunities for growth, and then designed an expansion plan covering 6 targeted counties with the greatest growth potential. |
Results: This strategy will increase client's market share from .04% to 1.34% by 2015. |
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Make Strategic Vision
a Reality |
Client: $150MM Professional Services Firm. |
Challenge: Implementing a cross-functional strategic plan across multiple disciplines. |
Solution: BCP conducted a tactical planning workshop with the leadership team during which strategic plan objectives, enablers, tasks, and resource requirements were identified. We then assumed a project management role, assembling a project plan and leading status calls through the execution of over 300 tasks across four business units. |
Results: The firm completed 95% of its initiatives on schedule. |
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Mitigate Direct Cost
Increase |
Client: Multi-billion dollar National Staffing Firm. |
Challenge: Developing strategy for and rolling out a nationwide price increase to address government-mandated employee cost increases which jeopardized the firm's gross margins. |
Solution: BCP enaged with a task team team, working under tight deadlines to develop and execute a plan to position the firm as subject matter experts in employee costs. We crafted the message to clients and developed field communication tools including letters, scripts, and presentations, as well as informational resources for clients to learn more via the company's website. |
Results: The firm met its target, increasing rates in 70% of national accounts and over 90% of small to mid-size accounts. |
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Grow Pipeline |
Client: >$100MM Professional Services Firm. |
Challenge: Sales team was underperforming and the organization had no sales management process. A sales force automation tool had been installed, but user adoption was low, rendering the tool ineffective. |
Solution: BCP customized the sales force automation tool to provide visibility to the firm's key performance indicators. We designed and implemented a repeatable sales management process enabling senior leadership to inspect what was expected, increasing sales effectiveness in a flat organization made leaner by the recession. |
Results: In 90 days: Pipeline grew 24%, number of sales opportunities grew from 0 to 130 with 40 prospects at >40% close rate. |
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Showcase Brand |
Client: $30MM Commercial Staffing Firm |
Challenge: A new CEO and leadership team lacked the time to research employment trends and create thought leadership material to enhance the firm's new brand. |
Solution: BCP was engaged via retainer to ghost-write thought leadership material on behalf of the CEO and select executive team members. We outlined a content plan and publishing calendar, and produced new white papers and blogs each month for the client's website. |
Results: The firm increased its exposure in the virtual world with white papers and blogs picked up by others in social media. Senior leadership was able to focus on business generation versus writing. |
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Strategy Execution |
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"When it comes to getting things done, we need fewer architects and more bricklayers."
— Colleen C. Barrett |
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Unfortunately, most strategic plans are never executed. Rather, they wind up in 3-ring binders gathering dust on shelves.
3 reasons business leaders don't make the vision a reality:
Lack of resources with the competencies or capacity in-house to do the tactical work. Maybe your business processes need to change... or your technology must be upgraded. Bringing a vision to life is a huge undertaking, and your people have day jobs. That's why approaching strategy execution using project management tactics makes sense. There will be many moving parts to manage, and it could be a full-time job for a period of time. Think this through as you're budgeting for resource requirements while in the planning phase. The strategy isn't communicated down the organizational chart. The strategy cannot be executed well unless those at ground level hear it from you, buy in, and then own it. A good execution plan will include routine communication protocol throughout the enterprise prior to execution and as each milestone is achieved along the way. Reward and recognition programs are not aligned with the strategy. Incentive plans should be evaluated to ensure individuals with results which support plan objectives are properly rewarded. And since studies show employees thrive on informal recognition, a sales motivation program providing more immediate informal incentives will keep the team consistently motivated.
We want your vision to become your firm’s new reality, so once the planning process is completed, Bingham Consulting Professionals can walk you through developing an execution plan and even stay engaged to project-manage it for you, ensuring the tactical work is outlined, resources are assigned, and milestones are achieved. Because we’re experts in your business, we’ll coach your team through constraints and roadblocks that could otherwise derail your mission.
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"However beautiful the strategy, you should occasionally look at the results."
— Winston Churchill |
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After your strategy is implemented, you'll know if it's working with our proprietary Quarterly Business Audit process, which measures 5 key performance indicators over time. Applying a simple formula helps you determine if you're in the Pinnacle Zone — gross profit is growing at a faster rate than SG&A and your business is healthy, or the Critical Zone — SG&A is growing at a faster rate than gross profit and you have some work to do.
The Pinnacle of Profit
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