Silver Fox Advisors - Case Studies

CASE STUDY: Manufacturing Distribution Company

Problem Encountered:

The company was a successful company that had been in business over 20 years and had a solid financial base. The owner was concerned that the revenue had reached a plateau over the past four years and was looking for guidance in creating a more consistent growth revenue curve.

SFA Involvement:

A Silver Fox Advisor met with the owner and felt that there were no particular "problem areas' in the company and suggested the formation of a Business Advisory Board, made up of members with specific experience and knowledge in Marketing, Operations, Finance, and Industry Knowledge, to meet with the owner 3 or 4 times a year. The Board was formed with members chosen by the owner in conjunction with the SFA mentor's input.

The Advisory Board became one of the owner's management resources and has been in place for four years with some rotation of Board members as new areas of experience were needed. One of the early actions suggested by the Board, was to develop a corporate Strategic Plan incorporating input and knowledge from the whole company. A second Silver Fox with experience in Strategic Plan development and execution was called in to help coordinate the internal development of the Strategic Plan and assist in the "Buy-in" of the plan by the employees.

One outcome of the Strategic Plan exercise was the recognition that there was no succession plan in place for the Owner/President. As this owner had children that could have been interested and capable of taking over the company at some point, even though they did not work in the company, the Advisory Board recommended hiring a Family Business consultant to help in addressing the succession issue. A Silver Fox Associate with years of experience in family businesses and transitions was brought in. After working with the children, one sibling was identified as being interested in the company and a candidate for taking it over. That candidate was not interested in leaving their own area of business at that time but has become more involved in the company as a special consultant in Marketing which is the candidate's field of expertise.

Conclusion:

The establishment of the Advisory Board has assisted the owner in decisions related to personnel changes and additions, marketing expenditures, and operational enhancements. Corporate planning has moved to a longer horizon with revenue growth beginning to occur, efficiency and employee dedication have remained at a high level, and there is an articulated and understood common direction in all of the employee activities.

This case study is an example of a company using the diverse experience of the Silver Fox Advisors and Associates to find targeted solutions and direction for specific concerns, including the development of an ongoing Advisory Board which may or may not include Silver Fox Advisors. It is an example of how Silver Fox members collaborate to give the client the best match of company needs and consultant expertise in the most economical fashion.

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