Situation
A national manufacturer of industrial products was hit hard by an economic downturn
Revenue was cut in half and profits declined into negative territory
The next-generation owner had just become President, and everyone held him responsible
Action
We rapidly proceeded to uncover and address the root issues that were holding the company back
Then we investigated customers, competition, and the market, discovering many new avenues for growth
We collaborated with management to select and implement the key solutions, including refocusing on the most profitable products, initiating collaborative marketing with dealers, and introducing high-margin Accreditation Courses which also attracted new potential customers
Employees also worked with us to optimize the culture, communication, and many of the processes
Outcome
After the first year, revenue growth rebounded by 35% and profitability was restored
Both the President and employees had renewed passion and purpose
Over the coming years its employees thrived, revenue doubled, and profits hit all-time highs
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