Situation
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A national manufacturer of industrial products was hit hard by an economic downturn
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Revenue was cut in half and profits declined into negative territory
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The next-generation owner had just become President, and everyone held him responsible
Action
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We rapidly proceeded to uncover and address the root issues that were holding the company back
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Then we investigated customers, competition, and the market, discovering many new avenues for growth
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We collaborated with management to select and implement the key solutions, including refocusing on the most profitable products, initiating collaborative marketing with dealers, and introducing high-margin Accreditation Courses which also attracted new potential customers
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Employees also worked with us to optimize the culture, communication, and many of the processes
Outcome
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After the first year, revenue growth rebounded by 35% and profitability was restored
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Both the President and employees had renewed passion and purpose
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Over the coming years its employees thrived, revenue doubled, and profits hit all-time highs