The co-owner of a clothing manufacturer and retailer of custom-tailored clothing came to us after several years of setbacks and changes in the marketplace, including the break-up of a manufacturing facility partnership, a slowing economy and the growing influence of Far East manufacturing. He decided that it was time for his company to regroup and refocus the business.
Working one-on-one with his executive coach, the co-owner was able to more clearly focus his energies and talents on the things that generated income and profit. His advisory board helped him identify new sales streams for his wholesale and retail divisions as well as focus on the systems necessary to operate and manage the custom suit manufacturing operation. In the first four months of working with us, sales improved 12% over the previous year. In the second half of the year, the wholesale custom manufacturing operation began to increase revenues by more than 20%.
In addition to monthly private coaching, participation in the monthly advisory board meetings helped him manage his business more successfully by providing a venue to get other executive level opinions on issues that challenged his business. He regularly consulted with the board on new product development, marketing plans and sales growth strategies.
In his words, “We are too big for corner bar talk and too small to afford a board. The board has been a great platform to bounce ideas off of other well-seasoned executives and come out with a working game plan for action. A company of our size just can't get honest open dialogue like this in the business marketplace."