A $10 million manufacturing company loosing almost $1 million a month, 84 employees, 30k sq. ft building (15% was utilized) at 40% of output capacity. He was known in his space as offering “cheap” products.
Banks were about ready to call in the loans. An ex-partner had a lawsuit against him, he had a 2nd mortgage on his house, no one in his company even listened to him.
Within the first 7 months:
- Put a GM in place to oversee day-to-day operations, morale improved
- He increased his prices 40%, then another 25% a month after that
- Volume dropped from 10k units a month to 9,800 after the first price increase, then in the second month was 12k units. After the second price increase volume was almost 20K units a month
- Got his ex-partner to have a sit down to work everything out-lawsuit dropped, and the ex-partner went away-happy
- Reduced his un-necessary staff by 80%, to fit in line with production and output
- Negotiated with new vendors/suppliers, which reduced his costs 35% immediately
- With all these changes the bank extended his payback time frame which reduced his stress
- Sold his current building in the 8th month, moved into a more adequate space-saving more than $500k a month
- Bought out his 2nd mortgage by the 8th month.
Would you like to know the kind of results we can get you in your business?
Then contact us today for an introduction call. https://calendly.com/sfeld/30min
“I was amazed how fast we got results working with Biz Coach Steve. He transformed our business from losing money to making money.”
