Susan’s Case study
Susan is in the same boat. She owns a professional services company which she’d grown to over $5 million in revenue last year but then she started losing more clients than she was picking up.
Susan has done a lot of soul-searching and reading in an attempt to stop this bleed. She doubts she can solve everything by focusing on delivering a better experience to those who support her business but she believes it’s one of the things she can change.
Susan is understandably concerned and she needs help in many areas quickly. She needs help coming up with a way to keep her existing clients from cancelling their contracts too and she needs help to attract new clients to replace the lost business. Susan needs to improve the workplace and retain her best employees.
Although usually “unflappable”, Susan needs someone who recognizes how critical it is to stop the bleed quickly while empathizing with her as she is guided through these challenges. She isn’t the type of entrepreneur who typically needs rescuing but right now she would definitely appreciate a lifeline.
Susan’s business is considered “boutique” in her industry and she likes working with other boutique agencies and consulting firms because they know what her challenges are while also being nimble, creative and more open to finding the right mix for her needs.
Susan is excited when she discovers that Marquee Experiences is a boutique agency which offers consulting services and education. While she believes the education will be useful in the long term, she really needs someone to help guide her now.
Susan is intrigued when she hears she can also get help with marketing, employee recognition and engagement services, sales incentives, loyalty programs, events and joint ventures through Marquee Experiences’ sister divisions. She takes great comfort in knowing that the Marquee teams will help her to address her challenges now and in the future and so she retains them to help stop the bleed.
After working with Carol and her team, Susan took stock of what she had built and where she wanted to be in the long term. She took a look at her business model, her vision and her purpose to realign her business with her own personal vision.
Susan and the Marquee team conducted “town halls” and reviewed the complaints and the compliments to find the common themes with a focus on improving the experience for both employees and customers.
After identifying her client personas Susan enlisted the help of her employees to uncover areas where they could alter the services to better address their challenges.
With this new clarity about herself, her employees’ experience and her customers’ experience, Susan and the Marquee team focused on joint ventures and strategic alliances to grow her business quickly. It was a two-pronged approach, where the non-competing yet complementary business partners would refer their clients to Susan’s business and while she could also refer her clients to them for a percentage of revenue.
Susan also implemented an employee recognition and rewards program designed to help solidify the values of the company while inspiring her team to be onboard with all the changes which were needed to stop the bleed.
With mentoring from Carol, Susan also hosted webinars, workshops and Google Hangouts to help her clients. These events started as very intimate events – 1 or 2 people would actually show up – but they grew exponentially over time and she was able to strengthen her relationship with her clients while also attracting new clients.
It was not an easy, overnight fix but Susan was able to stop the bleed by focusing on alignment between herself, her employees, her partners and her customers.
She created systems, processes, training, expectations and measurement to ensure consistency, which was lacking and a major cause of discontent.
Susan ensured that everyone knows the values and purpose of the business.
She tapped into the potential of her employees by including them in the planning and she rewarded the commitment of her employees and partners by providing feedback, opportunities and customized and personalized rewards for specific actions, which showed them that she was committed to their success and needs as well as her own.
Susan had a hard time believing these approaches would solve her challenges when she first spoke to Carol but she was thrilled that this multi-faceted, people and profit focused approach helped her to stop the bleed and turn things around.