What do you do when 90% of your revenue comes from one client?
Our clients called us to help develop a strategy to diversify their revenue stream.
A phenomenal injection molding and assembly company had built its entire business to support a large client in the automotive industry. When the US automotive market slowed down and more and more companies outsourced overseas, our client began to feel their pain. With succession planning right around the corner, they could no longer continue to do things as they had always done.
The Eye Opener
If you do what you’ve always done, you’ll get what you always got. We radically changed the identity of this firm, created a unique selling proposition and translated it to the sales-force.
Actions Taken
- Completed a comprehensive market analysis
- Selected and executed a client relationship management tool (salesforce.com)
- Took aggressive action to implement a compensation plan, job descriptions and marketing communications plan