Monthly Archives: August 2019


Printing & Branding


by on Aug 30, 2019 12:15 PM

A premier printing service specializing in luxury print graphics and display installations.

Background

In a rapidly changing and competitive industry, the CEO/owner of a growing service company worried how to increase revenue and achieve the culture that he wanted for himself and his team. The Executive Team (ET) had limited ability as there was no management training, processes, strategy or defined core values and while staff doubled over 5 years, there was virtually no middle management to support growth. Silos existed between departments resulting in resentment and ambiguity about how individuals and departments contribute to the company’s workflow, client satisfaction and overall success.

Trilogy Guided Solutions

FINANCIAL

  • Helped the owner recognize the need for an experienced financial professional to prove timely and accurate reports.
  • Utilized Trilogy’s Profit Drivers™ to help identify opportunities to improve top and bottom line.
  • Identified most profitable jobs to refocus their efforts and quantify profitability by salesperson.
  • Performed an analysis of renting vs. buying a new building.

STRATEGY

  • Roadmap to align thinking amongst the owner and his Executive Team.
  • Identified three Critical Success Factors and the person(s) responsible for each.
  • Helped the owner reconsider the financial, people and processes needed to achieve his goal of doubling his revenue over the next 5 years.
  • Evaluated the owner’s risk-reward of delegating to others vs. staying involved in all areas of the business.
  • Illustrated how expansion and restructuring of operations would be more cost effective, affordable and help improve client service and drive profit.

PEOPLE

  • Trilogy leadership coaching for each member of the Executive Team to elevate their skills, knowledge and confidence.
  • Job descriptions for every position, including the CEO, to address ambiguity around job function.
  • Performance evaluations to clarify roles/expectations and to demonstrate commitment to staff development.
  • Trilogy designed weekly meetings for supervisors and their teams to improve dialogue and keep staff informed about company performance.
  • Trilogy helped facilitate quarterly “all-team” meetings to encourage company-wide collaboration and understanding about how one department’s actions impact workflow through the entire organization.

Results

  • Revenue exceeded owners target by more than 20% and cash flow and profit increased.
  • Executive Team and their managers reflect on company values to make swifter and objective decisions and are far less tolerant of behaviors that do not align with the culture.
  • Culture dramatically improved now that the Executive Team can confidently offer realistic direction and timely, honest feedback.
  • Job descriptions and performance evaluations result in less confusion, greater accountability and allow for team members to understand possible career paths.
  • Commitment to develop middle management through weekly and quarterly meetings increased manager engagement and a willingness to take on more responsibility.
  • Weekly huddles ensure that teams are focused and thinking strategically about how their actions impact the business.
  • Quarterly “all-team” meetings promote further understanding and appreciation of individual and department contributions.
  • Collaboration increased with individuals feeling responsible for each other’s success.
  • CEO freed from day-to-day operations to focus on developing a sales team, networking and client relationships; he is optimistic that business can double now that Trilogy has helped build a structured, accountable and professional organization.

Structural Engineering


by on Aug 30, 2019 11:51 AM

Established firm committed to providing innovative solutions to corporations, government agencies, institutions, industrial facilities, legal and other design professionals.

Background

Client retained Trilogy Partners to assist with due diligence regarding employee purchase of the organization. The buyer required oversight and guidance to complete the ownership transition and understand the financials and key metrics to ensure profitability and sustainability. In addition, the new owner wanted processes to increase revenue and deliver high-level service.

Trilogy Guided Solutions

FINANCIAL

  • Walked buyer through transition and financial process, demonstrating how to fund the purchase with no outlay of money.
  • Recommended hiring a CFO who could provide timely, meaningful financials and help identify areas to drive profit.
  • Assisted internal finance department to develop Key Performance Indicators to exceed the industry average by more than 40%.

STRATEGY

  • Identified employee’s “WHY” for purchasing the business, potential benefits and impact.
  • Developed a 3-year strategic business plan to guide decision-making and minimize disruption during transition.
  • Assessed operations and culture and created alignment around core values and initiatives.

PEOPLE

  • Coached new President and key member of leadership team.
  • Helped identify and empower new leadership to help owner transition to a new role in five years.

Results

  • Peace of mind for owner; trusted Trilogy advisors provided step-by-step guidance to ensure a successful transition with no loss of personnel or clients.
  • Net profit, cash flow and equity increased.
  • Seamlessly added engagements for resolution of HR challenges and business development due to the depth and experience of the Trilogy bench (no need to seek additional outside consultants).
  • Company compensation and benefits now lead other firms with similar size/revenue.
  • Owner broadened his thinking, is more open to new suggestions and ideas, is willing to delegate and take on calculated risks due to financial strength and controls.
  • Owner’s feels more comfortable with his financial picture and has engaged Trilogy Partners to help with estate planning for retirement.

Janitorial & Building Maintenance


by on Aug 30, 2019 11:40 AM

Janitorial and building maintenance company delivering professional services supported by stringent quality control practices, time-tested processes, tracking and oversight.

Background

The owner admits that he was an accidental entrepreneur, originally purchasing the business because he wanted to be his own boss. He realized quickly that he lacked the knowledge and skills to lead and grow the company. His family-owned business had no infrastructure and no one internally to run the operations. One of his children expressed interest in running the business to ultimately assume ownership however, his current role was not defined, and he did not yet possess management and leadership skills. Issues with a lack of financial data, accountability, communication and trust distracted the owner’s focus from scaling the business hampering his goal to transition and ultimately, retire.

Trilogy Guided Solutions

FINANCIAL

  • Helped owner and his team to understand the balance sheet and Key Performance Indicators.
  • Offered guidance with job costing, focusing on labor costs and gross proft.
  • Utilized benchmarking to measure performance.
  • Assisted the Controller to provide clear and timely budgets along with meaningful financial reports.
  • Reviewed financials in a consistent, timely manner and took action to improve unfavorable variances.

STRATEGY

  • Created current and future organizational charts to gain a clear picture of the leadership needed to scale the business.
  • Hired an Integrator (COO) to align business processes and help with the day-to-day management.
  • Implemented the Entrepreneurial Operating System® (EOS®) for more consistency, greater accountability, and robust growth.
  • Delivered a written plan for transition, client retention and transfer of responsibilities to minimize the disruption when the owner retires or steps into a new role.

PEOPLE

  • Identified gaps in management, recruiting, onboarding and training for the next generation of leadership.
  • Trilogy executive coaching for the owner to improve management and communication skills.
  • Defined son’s role; began Trilogy coaching to gain the necessary skills to run the business.
  • Once infrastructure was in place, engaged Trilogy to support molding a more professional culture.

Results

  • Business  grew both organically (new services) and geographically.
  • Organization tripled revenue in 4 years with a goal to double in size in the next 5 years.
  • Cash flow improved, and company is growing with higher margins and net profit.
  • The Integrator and the Operations Manager have taken tasks off the owner’s plate, allowing the owner to step back from daily operations.
  • Son is thriving in his new, defined role and is developing critical leadership and management skills.
  • Leadership team is unified by the understanding that a more accountable, professional organization and a culture of communication, healthy conflict and trust will result in a prospering, sustainable organization.

Environmental Contractor


by on Aug 30, 2019 11:34 AM

A leading provider of environmental drilling services and preferred partner of top environmental engineering firms in the country. Firm is committed to continually increasing knowledge, professionalism, scope of service, safety, and customer service.

Background

The CEO/owner was not acting as a leader; he was working “in the business, not on the business”. Leadership positions were held by long-time friends and family and the owner was uncomfortable confronting issues. There was no forecast or budget and the owner lacked the financial information needed to drive decision-making, control overhead and scale the business. The company did not have an organizational chart, strategic plan, continuity plan, or sales force. While the company was profitable, it was not growing.

Trilogy Guided Solutions

FINANCIAL

  • Established budgets and financial projections.
  • Systemized business processes.
  • Evaluated better methods for scheduling and labor tracking to eliminate unnecessary overtime.

STRATEGY

  • Developed five-year strategic plan.
  • Created current and future organizational charts to clarify roles and accountability.

PEOPLE

  • Trilogy executive coaching for CEO, COO and CFO to transform the business into a professionally managed enterprise to drive both the top and bottom line.

Results

  • Hired a new COO and CFO to assume positions occupied by long-time friends and an experienced salesperson (gaps identified on new organizational chart).
  • Improved business processes and more meaningful financial reports provided a higher level of certainty resulting in the courage to make quicker and bolder decisions.
  • Profit positively impacted through the installation of a project management system to streamline the flow of work throughout the organization.
  • Revenue grew through the efforts of a dedicated salesperson, the purchase of another firm, expansion into a new geographic region, and an increase in service offerings.
  • Bottom line increased tenfold by empowering the management team, understanding costs, eliminating waste and increasing efficiencies.
  • Trilogy created a self-sustaining culture that strives for continual improvement, ensuring the health of the company for decades to come.
  • COO promoted to President; owner assumed the role of CEO and monitors his business with a dashboard, allowing time to pursue additional interests.

Technology


by on Aug 30, 2019 11:25 AM

Family Run IT Business

A leading technology solution provider with a rich history of servicing both the public and private sectors in records management, archiving systems and custom information management solutions and services.

Background

Three siblings assumed ownership of their family business, founded in the 1970’s, from their father without a transition strategy or roadmap. The business was profitable, but process and company values were never formalized. Financial records were never verified due to the siblings’ lack of business acumen and their trust in the information provided by their father. While each sibling had unique capabilities, none had the proper training or experience to run a company. One sibling manually managed the financial data but a deeper, timely and efficient understanding of the financials and profitability was necessary to make sound decisions. Communication styles between the siblings were different leading to many assumptions, negatively impacting communication, trust and accountability.

Trilogy Guided Solutions

FINANCIAL

  • Automated financial process to provide timely and accurate information.
  • Created budgets and cash flow projections to help owners manage the company by the numbers.

STRATEGY

  • Roadmap to set a strategy for people, process and growth.
  • Formalized the company’s vision and values.
  • New organizational chart to assign the right people to the proper roles to scale the business.

PEOPLE

  • Trilogy Executive coaching to ensure that the owners are accountable for their short and long-term goals and in turn, make accountability an expectation throughout the organization.

Results

  • With the organizational chart in place, the proper leadership function for each sibling was clear allowing each to apply their strengths and maintain an area of accountability.
  • Business is run by the numbers; informed decisions are made about cash flow, investment, and company direction.
  • Executive team is mindful to focus on their vision and values when recruiting and hiring to ensure that the growth of the company is in the best hands when they are ready to transition to the 3rd generation.
  • Through Trilogy coaching, the siblings understand each other’s communication style resulting in swifter and bolder decision making, better execution, less stress and fewer unspoken assumptions.
  • Owners have a business valuation and understand the worth of the company, having increased the firm’s future value by being less dependent on any one owner.

Environmental Engineering


by on Aug 30, 2019 11:17 AM

Composed of brilliant individuals with extensive academic training and project experience, the firm provides integrated ecological and engineering consulting services with expertise in natural resource management, water resources engineering, geotechnical design & investigation, and regulatory compliance.

Background

Three partners, deeply committed but without a clear strategy or focus to move beyond maintaining the business. They struggled to comprehend cash flow and had no clear understanding of their financial picture including expenses and profitable services. They were understaffed, had difficulty hiring, and suffered from frequent scheduling issues. Employees were not engaged or accountable, silos existed between departments and communication issues were prevalent. Also, the senior partner announced his retirement, leaving the other two to anticipate a plan to facilitate the buyout, the transfer of knowledge and maintenance of client relationships.

Trilogy Guided Solutions

FINANCIAL

  • Engaged Trilogy outsourced CFO to clean up financial data and create reports with financial metrics for owners to review.
  • Established financial framework for newly hired Controller to build upon.
  • Helped client reduce billing time and increase collections of receivables.
  • Put system in place to focus on engineering billables and utilization.
  • Created process to focus on profitable clients and projects.

STRATEGY

  • Roadmap to align the owners on vision, values, communication and critical success factors.
  • Organizational chart to define roles and accountability and identify gaps.
  • Dialogue about market sectors and service offerings to eliminate or integrate into other areas to improve profitability.
  • Developed sales targets and collaborate with associates on a sales pipeline process.
  • Wrote a plan for transition, client retention and transfer of responsibilities to minimize the disruption when the senior partner retires.
  • Implemented the Entrepreneurial Operating System® (EOS®) for more consistency, greater accountability, and robust growth.

PEOPLE

  • Trilogy coaching for Executive & Middle Management leadership.
  • Helped owners address conflict and accountability concerns.
  • Developed project managers and empower to become productive leaders.
  • Identified and coached an internal employee to be their first Integrator (COO).

Results

  • Client understanding of the fundamentals of business.
  • Complete reorganization without any loss of existing clients.
  • Roadmap served to create alignment, purpose and focus for the partners.
  • Organizational chart clarified roles, set expectations, increased accountability AND identified the need to hire an experienced controller to improve reporting, optimize the invoice process and reduce the collection period for better cash flow.
  • Company focused on financial stability and growth with an increase to the bottom line and better liquidity.
  • Partners have reports and metrics to track profitable vs. non-profitable areas and can manage the business by the numbers.
  • Owners realize the importance of sales pipeline planning as it relates to workforce leveling and staffing current and future projects.
  • Collaboration, trust and healthy conflict have improved.
  • Leadership is moving with purpose, working to identify, train and develop the next level of management.

Electrical Engineering


by on Aug 30, 2019 10:59 AM

A highly experienced team of designers, CAD operators, administrative staff, and engineers who provide affordable excellence in electrical engineering & electrical project management to businesses.

Background

Client owns two companies, neither which are cash flow positive. He is personally funding the business and is concerned about how to afford retirement. He has no understanding of either business’ financial picture, including expenses and profitable services. There is no clear strategy for the next 3-5 years other than he anticipates an ownership transition and is seeking guidance to facilitate the transaction, the transfer of knowledge, and maintenance of client relationships.

Trilogy Guided Solutions

FINANCIAL

  • A full financial CFO review, including dialogue about what market sectors and service offerings should be eliminated or de-emphasized in order to improve profitability and the bottom line.
  • Developed a plan for financial stability, cash flow positive with the goal to return the owner’s investment in the company over the next 3 years.
  • Identified and reinforced key Financial Performance Indicators, and created a methodology for building accountability, making decisions, and growing revenue.

STRATEGY

  • Roadmap to reorganize the two companies; identify three 3-5 short & long-term Critical Success Factors.
  • Action plan with clear goals and steps for holding everyone accountable, allowing for better oversight and helping to gain traction.
  • Wrote a plan for transition, client retention and transfer of responsibilities to minimize the disruption before, during and after the ownership change.

PEOPLE

  • Executive coaching for President and Vice President to clarify roles and aid the transition.
  • Provided a method of incentive based on the success of the company, to energize encourage employees to more actively participate in suggestions, ideas, and better improved work ethics.

Results

  • Full financial review led to improvements to financial reporting, and leadership has learned how to better manage and control company finances using data to drive decision-making.
  • Dialogue related to the transition of ownership has begun and a plan is underway.
  • Enhanced communication between senior management and employees.
  • Improved recruiting selection and hiring of top talent based on Trilogy recommendations.
  • Created sales strategies to differentiate and stand out from competition.

Manufacturing


by on Aug 30, 2019 10:45 AM

A custom case manufacturer providing shipping cases, transit cases, waterproof cases and presentation cases for commercial, industrial and military applications.

Background

Client had engaged Trilogy Partners to coach 2nd generation to assume leadership of the organization. Following a successful transition, the new President took a critical look at his manufacturing, design and distribution company. While the business was profitable, he felt he was not capturing the full potential of the growth available. Management practices and metrics were not consistent across all business areas and he sought better oversight and accountability.

Trilogy Guided Solutions

STRATEGY

  • Implemented the Entrepreneurial Operating System® (EOS®) for more consistency, greater accountability, and robust growth.
  • Used metrics to help client manage business by the numbers.

PEOPLE

  • Monthly Trilogy leadership coaching to guide new president and management team through transition.

Results

  • With direction from Trilogy’s Certified EOS® Implementer, the leadership team defined their vision for the business. Together, they clarified their core values and focus, defined a 10-year target for the business, refined a marketing strategy to achieve that target, and painted a more detailed 3-year picture of the business to keep everyone aligned.
  • The team recognized the value of the EOS® tools and moved quickly to complete their Accountability Chart™ and establish their 90-day goals.
  • They built a Scorecard to track progress and began holding weekly 90-minute leadership team meetings to keep them focused and make it easier to address and solve issues.
  • They introduced EOS® throughout the company, sharing that the operating system had been put in place to instill focus, discipline, and accountability throughout the organization. This transparency, along with an education on the key performance indicators (KPI’s), has created a more results-driven organization.
  • Daily, weekly, and monthly KPI’s are tracked on a rolling 12-month basis to see trends that the business can react and adapt to – and pivot when necessary.
  • Within the first year of adopting EOS®, the growth rate and profitability across all divisions is stronger, more consistent and sustainable.
  • The owner has greater oversight and communication, accountability and purpose have improved.

Distribution


by on Aug 30, 2019 10:35 AM

A leading manufacturer & distributor of specialty ingredients for the cosmetic industry.

Background

The company was successful and profitable however, the owner was not satisfied with the nature of his work. Through discovery, we learned that the root of the owner’s discontent was his lack of desire to deal with day-to-day issues and personnel. He wanted to focus on sales and product development. Also, the company was exploring an acquisition and the lengthy process was often overwhelming.

 

Trilogy Guided Solutions

STRATEGY

  • Roadmap incorporating factors to allow the owner to do the work he most enjoyed and strengthen the company at the same time.
  •  Began transition conversation with owner and helped navigate a potential sale.

PEOPLE

  •  Coached CFO to become COO to assume some of the owner’s responsibilities, allowing the owner to focus on sales and product development.

Results

  • A stronger management team with a more focused and engaged owner.
  • Owner decided to sell the business; Trilogy helped sift through potential buyers ensuring that the owner’s personal, business and financial goals were considered.
  • With Trilogy’s guidance, transition of the business was seamless for all parties including legacy and new management.
  • Through Trilogy’s support, owner successfully sold business at maximized value.

Manufacturing


by on Aug 30, 2019 10:11 AM

Manufacturing

Manufacturer of machines and displays/exhibits for trade shows and businesses.

Background

The client engaged Trilogy Partners to help with a variety of issues. The company was losing money, had little cash and did not have good financial processes. One client represented more than 30% of their revenue creating too much risk. Their unique differentiator was manufacturing machines and they unsuccessfully tried to enter other markets without the infrastructure and cash flow to compete. The owner recognized, but did not want to address, the incompetence and dishonesty of his management team. Finally, the business relocated into a new building and the owner wanted to fix and expand while retaining their original space.

Trilogy Guided Solutions

FINANCIAL

  •  Secured accurate financial information to conduct a full financial review to improve profitability and the bottom line.

STRATEGY

  • Suggested selling the new building and shrinking the company to address the bottom line.
  • Formed an advisory team to offer strategic advice to owner.

PEOPLE

  • Coaching for owner and his wife to create change that would bring positive results.

Results

  • Trilogy helped recapture over $150,000 embezzled by an employee.
  • Trilogy assisted with hiring an experienced controller who could provide timely and accurate reports to drive decision-making.
  • The advisory team guided the owner and was able to get the current financial institution to allow time to get the company’s financing in order.
  • Trilogy found an investor to put substantial funds into the company.
  • Proceeds from sale of new building were invested and existing debt was refinanced, saving thousands.
  • The leaner company became profitable.
  • The owner and his wife were able to get value from the original manufacturing line and rent from their original building so they could retire comfortably.