A legacy manufacturing company was in an awkward spot where they had to turn down projects because they couldn’t find the resources needed to sustain higher revenues. Since sales weren’t reliable they couldn’t grow reliably. The team either got slammed with too much work or stalled due to missed opportunities. They also didn’t have great sales processes, which limited their ability to chase potential work.
Tier One Growth stepped in to streamline processes, expand market opportunities, and most importantly, establish steady revenue growth with systems to accommodate the increase in work.
3x growth with a smaller sales team.
We helped a legacy manufacturer triple their revenue within 5 years without adding sales overhead.
From $5 to $15 Million & Still Growing Fast and Steady
After decades of stalled growth, the manufacturing company was ready for streamlined processes, work prioritization, and collaborative sales team communication.
The owner was still involved directly with selling and had no formal process for sales or sales training in place. In order to grow beyond the plateau they had hit, the sales team and processes needed to evolve. The owner wanted to create lasting enterprise value, but in order to do that, he needed to grow the company and remove himself from the day-to-day operations.
The first thing needed was to bring on a business development manager. This established a formal sales team and put a key member in place to identify customer opportunities. The Business Development Manager also built, improved and developed new ongoing relationships.
Revenue vs. Sales Overhead (Millions $)
“We really couldn’t have gotten this far without you guys. You changed our whole business for the better.”
- Client Feedback
Continued Growth Partnership
In order to identify new client and product opportunities, Tier1 analyzed the manufacturing company’s strengths- what made them unique and where they could find a competitive edge. Then we identified specific industries they should target.
With a vision and strategy in place, the manufacturer brought in new leads from more lucrative and promising opportunities. The next focus was to improve the closing rates of these leads and manage the new influx of opportunities.
After establishing a new formalized sales process, we empowered the sales team by developing standard operating procedures. This made the entire funnel from leads to closing more efficient. It also gave the sales team greater opportunities to pursue high leverage activities over mundane tasks.
The Results
With Tier One Growth, the manufacturing company saw a 24% jump in sales within the first year. Within five years, revenue tripled (3X growth in 5 years).
We also established and then closely followed key metrics such as: counting qualified leads and following closing ratios. We improved qualified leads by 65%. Closing ratios more than doubled.
They also went from a regional company to a nationally recognized market leader.
The Acquisition
When we first stepped in, the owner did not consider, nor have the reasonable opportunity to be acquired. After Tier One Growth’s involvement, the company was acquired for an unrefusable offer.