Case Study - Five Rivers
Board, sales and operational process transformation facilitates sustainable growth
Transitioning from a small business to a much larger business presented challenges for business Five Rivers despite them being accustomed to steady growth.
Boardroom Advisors worked with Five Rivers to evaluate and develop board-level processes as well as other internal processes resulting in desired outcomes that reflected positively in the business’s financial reports.
Five Rivers has achieved significant growth over the past two years or so. The business was already well run but it needed a little more support to make the transition to the next level of performance smoother.
Five Rivers approached Boardroom Advisors to gain the board-level advice and expertise they needed. There were also specific issues around dealing with large construction contracts as well as resourcing strains around the operational structure of the business which meant that matching an advisor with the right expertise was essential.
Boardroom Advisor Eian acted as an independent sounding board for thoughts and ideas that the Directors of Five Rivers had for moving the business forward.
We conducted an initial review of Five Rivers’ operations which highlighted the need to develop a commercial team within the business. This was achieved by setting up and mentoring an operational board with representatives from both finance and the three main income-generation areas.
Our Advisor conducted one-to-one sessions with the Commercial Board to mentor its members and encourage the completion of tasks; keeping the team focused while gaining confidence in their ability to deliver the required results.
A more in-depth review of processes using a cradle-to-grave approach was undertaken to identify the areas that needed to be strengthened in order for the business to achieve the required results. This covered everything in the sales process from the initial budget/plan through to receiving cash in the bank.
In turn, this helped to identify gaps in the process and see the bottlenecks more clearly such that they could be reduced, lifting the pressure from key staff members.
- The initial strategic review uncovered a multitude of opportunities for Boardroom Advisors to help Fiver Rivers grow.
- The creation and development of the operational board, later called the Commercial Board.
- The financial reports of the business reflect the development of greater emphasis on the practicalities of forecasting and a more proactive approach to order generation. This improvement has become key to helping the business achieve its objective.
- Meetings were made more structured with a focus on purpose, key issues, and achievement of outcomes; leading to better support and results for each member of the team.
- A more transparent focus on health and safety at all levels.
- The business is now well set to operate successfully on a continuing growth strategy.
Quote from Adam Ellis, Managing Director
“Boardroom Advisor Eian has been a real asset to Five Rivers over the last 5 months in supporting us through rapid expansion. He immediately became part of our team and culture, helping to mentor and support a new structure within the business to create an Operational Board. Eian leaned on his wealth of experience and knowledge to give insightful and focused advice to help Five Rivers be the best it can be. Thank you to Eian and Boardroom Advisors for all your help.”
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