Client: A technology design house specializing in product development, R&D and innovation with domain and technology expertise in Computer Vision, Image Processing, Embedded Systems, IoT, High-performance Mobile, Web and Software Applications.
Context: Founded in 2002, it was the first student-faculty led technology start-up to have successfully incubated from within IIT Delhi. 14 years later, with 50+ product innovations, 250 global and local client engagements, the company with 100+ employees were at a critical juncture in its growth journey. The company had grown organically without establishing a clear line-of-sight and without a defined sense of purpose or direction. Consequently, it had seen its growth plateau and dip for several quarters with employee morale at an alltime low. The company also lacked an effective sales and marketing team. Founder-Executives (who were all ex-IIT-Delhi graduates) had no prior experience running a business/company nor had they sought to augment that gap in their collective experience and expertise by hiring from outside. This insular culture, inexperience and lack of vision was at the root of its current dysfunction.
The Approach: Recalibrate’s surgical intervention was targeted to get the company turned around in a very short time. It was clear that our intervention needed to simultaneously focus on multiple areas within the company. Accordingly, all four engines of growth (i.e., people, sales, finance and innovation) were subjected to a detailed diagnostic to discover what was at the root of the current malaise. Based on the diagnostic a bespoke and comprehensive intervention was designed to immediately address the core issues responsible for the current state of affairs. To establish a clear line-of-site and develop a renewed sense of purpose and direction, key personnel from the company participated an intensive two-day Vision-Quest Ignition Program. The outputs from this exercise were immediately operationalized via individual and team action plans. From the diagnostic and the Vision-Quest exercise it was clear that the People and Sales Engines required the most amount of recalibration. On the Sales front, a potential multi-million-dollar opportunity was used as a catalyst to lay bare current fault-lines and to build from scratch vital Sales Engine components required for future growth. On the People front, extensive individual and team coaching was provided to the Founder-Executives to renew and strengthen team cohesion, to build rapport and trust, to instil confidence and executive presence.
The Impact: In a very short period of 3-months the company was able to re-align themselves with renewed purpose and vision. People and Sales Engines were recalibrated and renewed. A detailed blueprint and action plan for growth and renewal was devised and set in motion. A crisis of sustainability and longevity was averted.
Situation: The client had seen regular sales growth which has been largely organic and non-structured. The company had been able to build an impressive list of referenceable global clients in its growth journey without establishing a formal sales strategy or process. It had also not fully leveraged those sales wins into additional revenue opportunities (farming). While it had a handful of US based customers, its primary focus had been the UK and Europe with some clients in Southeast Asia. The key products and associated ancillary products of the client constituted two potentially separate but related sales opportunities.The CEO & CTO were plateauing and were looking at an early exit from the organisation in the next few years.
Objective: Client wanted to devise a comprehensive Sales & Marketing strategy for business renewal & growth. The preference was to grow the business in UK, Europe & Asia and possibly target the US aggressively as well.
A 10 month journey was engineered for the client which started with a 2 day intense workshop with the CEO & CTO flying down to India. Before getting into the workshop they were administered an Saville EntreCode Assessment which assesses an individual on 6 core entrepreneur dimensions. A 1:1 feedback session of the assessment followed by multiple pain-storming sessions focusing on the customers & industry needs, the client was trying to solve were set up. The sessions started unfolding a backward journey on aligning the sales & marketing strategy to their end goals.
Post the workshop a team of domain experts (People, Sales, Business, Technology) was involved with the client helping them refining & executing the sales & marketing strategy. The CEO & CTO were on a 6 month ‘Executive Coaching’ journey helping them anchor the development gaps which surfaced from the assessment.
2 months into the journey, the technology domain expert visited the client premises in their home country to assess the technology efficacy focusing on serving the current customer needs and evolving trends in their domain.
What started as an assignment to create & support in executing the Sales & Marketing strategy evolved as a complete business transformation journey.
The outcome of the technology assessment was a ‘Pivot’ moment for the organization and gave them a completely new direction in terms of the value they can build for their clients through futuristic technologies.
The CEO & CTO are now looking at a new start for the next decade. They also are in process of raising funds to grow the business exponentially.