It was the kind of phone call that wakes you up— no matter what time of day it happens…
For me, it came from a former client. Hearing tremble in his voice and right away, I knew he was in trouble. It had been years since we’d been in touch. During that time, he’d placed a few wild bets that had decidedly not paid off. Now he and his management team were hovering, as he put it, on “the brink of disaster.”
He wasn’t exaggerating, as I would soon find out. Following a day of interviewing the entire staff for insights and perspective, we huddled with the CEO and his leadership team for two full days. After addressing and prioritizing the company’s challenges and opportunities and establishing critical priorities, we assigned specific action items to each member of the team. We also scheduled follow-up calls, constructed timelines, calculated metrics for measuring success and planned a follow-up meeting, a two-day onsite summit to be held three months out.
Today, I’m proud to report, cash flow has regained its vitality, the company is back to making money and we have erased most of the debt that was dragging the business down. None of those results were achieved overnight, of course—but then it took a long while for the problems to develop. In another instance, a former client who was doing very well brought me back for a review and as a result of our collaboration she was able to double her top line and enhance the percent of bottom line profits by an additional 12%. These two experiences woke me up to the possibility that there were likely other former clients who would benefit by having me administer a “tune-up” to their businesses.
After all, what business owner wouldn’t appreciate having a fresh set of eyes make an objective assessment of the company’s well-being? With the pace of change roaring ahead at breakneck speed, it makes sense to have someone you know and trust give the company the guidance it needs to ensure that operations keep humming.
That’s why I’m offering this new program, so YOU can Jump Start Your Breakthrough
The onsite Sustainable Breakthrough Program provides an objective, independent, real-time, comprehensive review and assessment. My goal is to provide you and your leadership team with a forward-moving concise action plan. Your plan will be instantly executable with timeline-based steps. Leveraging the Sustainable Breakthrough Program, we’ll start by assessing the difference between your company’s condition when we last worked together, and where it stands today. Most importantly, we’ll come up with the right strategy for achieving the goals you’ve set for your company.
This is the power of fresh but familiar eyes: these eyes can see what gets overlooked in the day-to-day challenge of running and growing any business. Every business has opportunities for growth and greater profitability that I can help you identify.
We will determine what’s important to you (see examples below) and allow that to establish the scope.
“I would not be standing here today without Rich’s guidance and support. He is my coach and mentor and has been an endless source of knowledge, wisdom, motivation and business expertise.”
Meeting with you this past Monday was life changing! I can’t thank you enough for all the valuable advice. I am confident now in what I am doing, and feeling equipped, energized, and able to take on even the most extraordinary of business challenges. Thank you, thank you, thank you!Kelly Winkler
I have been involved with building and selling two businesses over the past 20 years, I have heard thousands of business people speak – Rich Russakoff remains one of the most influential in my business career, thanks Rich!
We will determine what’s important to you and allow that to establish the scope.
- Assessing your quarterly, annual and long-term priorities
- Reviewing assumptions and initiatives around core strategic business issues
- Helping identify and quantify growth opportunities
- Determine if you are putting your resources and capital where you will likely get your best return on short- and long-term investment
- Profit centers – Separate your cash cows from your sick puppies (many businesses have no idea how to do this)
- Reviewing Core Values
Tactical: Do You Have a Can-Do Culture? Are You Executing Goals On A Timely Basis?
- Providing feedback and coaching on your day-to-day operation flow and challenge
- Assessing your current management team – are the right players in the right seats?
- Providing feedback on staff recruiting, hiring, and management issues, including employee reviews and promotions
- Reviewing your organizational chart
- Fine-tuning meeting rhythms: the daily, weekly, monthly, quarterly, and annual meeting schedules and the specific agendas that make them effective and practical
- Evaluating company alignment in strategies, core values, and execution
- Identifying all the metrics that drive the business and must be tracked on a daily, weekly, or monthly basis
Financial Review and Assessment
- Determine whether you are making the smartest financial decisions
- Review of personnel infrastructure, compensation, bonuses, and possible equity structures
- Are you focusing on profitability and creating wealth for yourself?
- Are you effectively managing the margins to maximize profitability?
- Does your debt and capital structure support growth?
- Identifying the possibility of in-house theft
- Acting as your objective resource for accountability
- Helping you to break through personal barriers that may be holding you back from realizing your full potential
- Assessing your leadership effectiveness and style
- Serving as a sounding-board for ideas, issues, and opportunities
- Examining your work-life balance
Current and Future Capital Requirements
- How much capital do you need and how will it help you grow or even out cash flow requirements
Debt or equity?
- Line of credit and/or term loan
- Are there better sources of capital for you to grow your company?
Possible Growth Through M&A and/or Strategic Relationships
- What are the advantages and risks of acquisition as a growth strategy?
- Are there potential acquisition targets you might want to approach?
- How should you finance the purchase?
- What should you pay to achieve your goals for ROI?
- What strategic partnerships make sense and how can you develop them?
Positioning Company for Resale
- Providing a list of action items of what you must must do today to maximize a future sale
- Deciding whether you are better off keeping a cash cow—or cashing out?
- Developing a strategy to create an (a) strategic sale or (b) a financial sale. The reason? Strategic sales bring way more money! Think Microsoft buying LinkedIn.
To begin, I will review the following information allowing me to fully understand the current state of your company:
- Current and last year’s Income Statements (Profit & Loss)
- Aging reports (Accounts Receivable and Payable)
- Balance Sheet
- Management Organizational Charts
- Samples of contracts from clients/strategic partners for present and future business
- Information about strategic relationships that the business does—or will—rely on
- Current business plan and marketing materials.
- Phone or Skype interviews with you and your leadership team
On-site Visit & Execution Strategy:
- On-site visit of two to three days
- 3 months of scheduled calls focused on follow-through, problem-solving, and accountability
- Full access by email or phone whenever needed
Fees for this service will be determined on a project-by-project basis. BECAUSE WE HAVE AN ESTABLISHED RELATIONSHIP THE FEE WILL BE REDUCED BY 25% FROM MY CURRENT COACHING RATES FOR THIS Sustainable Breakthrough Program!