Executive Summary
A $6 million metal fabrication company, in business for 23 years, had static revenue generation for the past several years with a small percentage of recurring revenue. The company needed an outside sales expert to put the systems and processes in place to increase revenue and put them on a path to be in a favorable position to sell in the future.
The Big Win
Increased revenue 66+% to $10 million within six months.
Challenges
- Stagnant sales for the past 5 years
- Only $1M in recurring revenue out of $5.5M to $6.5M in annual sales
- No dedicated sales resources, no sales plan and no measured business development activity
- No exit strategy, and the owner wanted to be in a position to sell in 5 to 10 years
Solutions
- Developed job descriptions
- Recruited and hired an experienced sales professional
- Selected and installed a CRM System
- Customized the CRM System to monitor key metrics, pipeline and sales forecasts via a dashboard
- Redefined focus to selling through architecture and engineering firms
- Developed a “Lunch and Learn” program that led to significant pipeline growth
Hiring a Sales Consultant has allowed me to see a path to retirement in the next 5 years and turn my focus back to leading the company rather than executing the day-to-day work. Through this engagement, we are now actively generating new revenue instead of waiting for the revenue to walk in the door.
Results
- Generated $200K in new revenue in only 3 months
- Achieved $10 million in pipeline revenue in 6 months
- Saved $25,000 in independent rep commissions (without any loss of performance)
- Reduced lead generation costs by 50%
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