Brief

To help turn around a business that was going to miss its end of year figures and to put in place a new MD to take the business forward.

Company Profile

This venture capitalist backed business had moved the MD to a CEO role leaving the existing Executive team to move the business forward.  Following a series of poor results it was decided to take on an Interim-MD to stabilise the business and provide the foundation for moving the business forward until a new permanent MD was found.

Report

Having taken a few days to review the business with the senior management team a clear short term vision and strategy was created which was agreed with the Board.  The end of the first week was used to communicate to the staff the focus of the business over the next quarter.  A series of email communiqué on a regular basis helped staff to identify with the progress that was undertaking within the business.  Reviews with key customers, suppliers and contractors ensured that the strategic focus was disseminated throughout the business. 

The benefits of the work were several:

• An important product launch that was aimed for completion by the end of the year was brought forward through better project management and focus.
• The 'safe strategy' was implemented ensuring that resources were deployed on activities that the company could complete and invoice.
• Better communication relationships were developed at Board level and throughout the business.
• Year end business objectives were turned around and achieved.
• A major drive on reviewing and implementing all the processes in the business provided the foundation to move the business from a 'small' business to a 'medium' size business.
• A major focus on sales provided the basis for the largest customer contract within the business.
• Business was focussed on striking revenue and profit.  This was underlined by cementing processes to create 'right first time' software implementations.
• The new MD recruitment was completed and a process developed and executed with the CEO ensured a smooth handover before exit.