President grows a declining family business into national company
When President Joe Heaney was brought in, sales had declined from $16 to $12 million over the last two years. This was a family business in the second generation. The snack product had been around for decades. However, it had limited distribution with varied strengths and weaknesses. Overall, the product was growing tired.
Joe went to work analyzing the competition, sales and distribution, packaging and product expansion opportunities. Based on his findings, he began implementing several significant strategies. He added to the company’s sales force by signing wholesale rep groups that sold to different and larger retail distribution, while maintaining the current sales base. The packaging was modified making it more current. And finally, flavors were added to the original product identifying with consumer preference for flavor options.
The results were stellar. The new strategies gave the company national retail scope. The expanded distribution placed the product into many more stores. The packaging presented the product with a clear message. The flavor options were readily accepted by more and more new customers. Bottom line: Annual sales multiplied to $80 million - almost eight times the original volume when Joe took over as President.
Your company may need “fresh eyes” to identify and discover the keys to growth. The key may be an interim executive or interim President/CEO like Joe Heaney, who is one of External Resources leading Interim Executives. As a resource for interim executives, we can deliver solutions to overcoming today’s growth obstacles, resulting in success.
Let External Resources show you how an interim executive can grow your company.
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VP Business Development
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