As technology executives know, running software, hardware, telecommunications and technology service businesses requires long-term vision and adaptability. We have worked with clients in computer software, hardware, IT services, and telecommunications sectors. Ballard Consulting’s cross-sector expertise and insights help technology companies compete and thrive in an industry where innovation is both an opportunity and a threat.
A sixteen-year-old custom programming company had gained some notoriety for its solutions and decided to morph into a packaged software company. The company had never been above 15 people and at the time had seven people on staff, including the founder.
Ballard Consulting began providing structure to company, implemented a national marketing program, added an advisory board, provided financing consulting, developed company procedures and helped establish meeting rhythms.
As the business grew, the company added highly experienced executives, new systems helped the company grow and key corporate partnerships established. Within two years, the company grew by 300 percent and within five years the company sold for more than $50 million.
Web Commerce Company
A Las Vegas-based e-commerce company had created a new niche in the online real estate transaction marketplace. Company was growing but sales expenses were growing faster. There was also discord in the call center as staff felt rewards weren’t commensurate with effort.
Ballard Consulting assessed the sales performance and compensation, developed a new compensation program, presented to ownership and then staff.
Within six months, sales continued at 30 percent year-over-year growth while selling expenses DECREASED by 20 percent compared to prior year. For multiple years, Ballard Consulting also provided coaching to CEO as the company became the leading company in its category nationally.
Company founder brought in Ballard Consulting because he felt company was stuck. The four-year-old company had raised some initial capital, hadn’t reached $1 million in sales, had five employees and investors that wanted out.
Our team established meeting rhythms, assisted in writing business plan focused on fewer services, and secured significant additional debt and equity capital (to buy out some investors and provide expansion capital to take advantage of impending opportunities). We then began to rebrand the company through a national public relations and marketing campaign and secured significant channel partnerships. With the additional capital, the company was able to grow its capacity by more than 400 percent.
In three years, the company grew from five employees to more than 35 and revenues grew more than seven times. Within five years, the company’s valuation exceeded $100 million.