FD OUTSOURCE

Expertise For Growth

It is not how you will be thinking.........

 

A typical Tuesday began sitting in the meeting room talking with Debbie.  We were just signing off her year end accounts when she decided to spill her heart out about wanting to grow.

 

Debbie worked in PR and owned her own agency

 

Her problem was that she wanted to attract A-Grade clients and couldn't.  Everyone saw her as a 'one-man band'…. excuse the expression!

 

To attract A-grade clients she knew she needed to attract A-grade staff.  So we came up with a plan to raise the image of the company.  The idea was to make prospective clients and targeted employees believe she was going places, and 'THE' PR company to work for.

So, I became the part time, on-call Finance Director.  But no-one else knew this.  At that time I also had another employee within the practice who had a background in I.T..  and I trusted their discretion under these circumstances.

At this point the organisational structure had a Managing Director (in  Debbie), an FD (in me) and

an I.T. director.

With Debbie's existing 2 staff, the organisational structure had some depth.  We spent a little time converting her small meeting room in to a room full of material which would excite any potential young, creative, enthusiastic employee (who would come with their little black book).

After writing the advert looking to recruit full time staff, there were several really good candidates.  The interview process was split into 3 phases, the first was with Debbie's 'hands on' PR Team, to talk creatively. 

 

The second interview was with Debbie, her executive assistant, and the I.T. Director - he stepped up to the HR Director, on that day, who also managed the I.T. within the business.  The final interview was with Debbie and myself.

We showed all of the candidates the depth to the team and oozed positivity as to where this company will be in 12 months time.

 

After hiring, we continued to sit in weekly management meetings and monthly board meetings…… 

for a price!!!

 

12 months later Debbie had seen her turnover exceed £1m.  She felt that she would be better positioned in London and set up a small office with herself and 3 more staff.  Debbie replaced me with a full time FD based with her in the London offices.

 

During the last dialogue we held which was 3 years ago, she had gone from strength to strength with a very profitable turnover of circa £2.5m.

So why am I telling you all this.  Well I am taking all of the credit for the idea….obviously.  It was all of my planning and organising which made the story a success.

The moral to the story is - It proves that talking to people around you (your team) regularly and being creative can overcome and solve solutions in most situations.  Trying to steer a ship on your own can be lonely and less productive.

Take time to ask yourself these 3 questions:

- Have I got the RIGHT team around me,

- Is the image of my business giving the perception I want it to, and

- Have I got enough depth in my management team to strategically grow

If you want to discuss ways to grow your business ensuring that cashflow is not a barrier to growth, call us today.  But don't ask to speak with the I.T. director….. he moved on!!!

© 2020 by FD Outsource Ltd

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