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How this CEO went from being “The Hub” to having more time grow the business.

Business Challenge:

Even with success, an owner can hit a plateau. The “Hub & Spoke” model was in full force preventing the company from scaling up (aka the owner was making too many daily decisions). The business was also missing key drivers like a strategic plan, the right people in senior positions, leadership development, a plan for recruiting sales talent and a next generation succession plan. The bottomline was stalled because the owner was spread thin running the business while also working to navigate an ever changing industry with complex regulations. Owner recognized he needed an outside perspective to build a business that could run without him.

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Owner Challenge:

Owner not having enough time to focus on the big impact opportunities
Too many decisions were making it all the way to the owner that should be handled by others on his team
Key employee retirements

What Owner Wanted:

Someone else managing HR
Business processes in place to reduce errors and improve efficiencies
Business growth
More time with his family without worrying about the business

31%

Growth in revenue

31%

Growth in profit

19x

ROI on investment in 24 months

priceless

Owner is able to travel with family for extended periods of time and the business runs smoothly

Results of the Compass Point Process

Reorganized the leadership team – removed some, added others
Developed a strategic plan and a meeting rhythm to review results, troubleshoot, and decide next steps
Hired a COO
Hire new Controller to replace retiring CFO
Restructured the business units to reflect curernt needs of the market
Implemented a management/leadership training program
Re-branded the business to better position the company as a team vs an owner
Hired strong leaders in two of the business units to drive results
Implemented an annual company-wide meeting that united the team and provided clarity and direction
Improved sales talent
Maintained revenue and profitability in a business unit that lost nearly 50% of its income due to a regulatory change through new business and business model innovation

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