VEHICLE OFFROAD AFTERMARKET manufacturer and SPECIALTY DEFENSE CONTRACTOR
Goals:
Replace prior president and serve as Interim CEO and lay out rapid action plan to transform a newly acquired stagnant business
Fix stale pricing and product
Bring distributors back
Regain brand visibility and confidence in brand
Fix public sector/government presence
Retain, recruit, motivate and build the right team
Optimize facilities
Rapid Action Steps:
Make significant strides toward reversing the effects of decades of apathy and neglect of product, brand and customers.
Gain back customers, reps, distributors.
Realign freight and shipping policies to boost margins.
Recruit new additional team members including CFO, salespeople to professionally represent products, and recruit engineering and product design team members.
Put new banking platform in place.
Clean up legacy administrative problems and barriers including compliance.
Secure additional owner capital/financing for liquidity.
Convert from sluggish ERP system to one with improved reporting and seamless functional integration.
Put a marketing/social media/conversion engine in place to drive posts and content, celebrating some new product, highlighting some existing product, and exponentially improving web site sales via Shopify.
Sign industry vertical influencers with in excess of 1 million followers.
Sign off road industry race personality and build signature product line with racers’ input.
Put in place a digital marketing agency and fractional marketing officer.
Create and register new product names and IP.
Defend organization from frivolous competitor cease and desist letters.
Put in security protocols required for a government contractor.
Rescued a failed product, redesigned, renamed and rebranded it, successfully exhibiting at SEMA and won two new product awards.
Continued with line extensions for core products.
Conceived and created field kit lines for product line extensions.
Launched a tracker and several development products in product development.
Renewed profitable government contracts.
Invested in our capabilities and people.
Renovated headquarters and offices.
Revamp warehouse and transforming with LEAN based plan developed by external SME.
Participated and exhibited at many shows in many verticals where brand was conspicuously absent for many years.
Identified coverage gaps and rebid insurance program.
Provided strong benefits and generous holidays/time off for employees.
Offer employees opportunities to further education and training.
Renewed ISO Certification twice.
Launched ITAR/DTTC registration.
Improved CMMC 2.0 compliance score to 110, the highest score possible.
Reestablished government bidding platforms such as SAM.gov.
Create bid tracking to generate public sector bidding opportunities.
Fixed pricing at negative margins on 90% of products, ushering through two MAP and trade price increases.
Developed weekly cadence of reports including operational KPI and financial flash report and meetings to keep on task and chart progress.
Develop and maintain weekly and rolling 13-week cash flow.
Begin the process of strategically rebranding and realigning our brand, logo, messaging.
Begin product refresh on stale products.
Landed two retired US Army Colonels as advisors.
Landed major new direct and distributor accounts in the US, Canada, and abroad
Identify and began bidding process on more than $50 million in new government contract opportunities.
Drove 185% increase in revenue, 335% increase in ecommerce traffic.