An individual client who had spent 25 years in corporate America was exploring starting his own retail supply brokerage business. He had no idea where to start or if it was even possible. His head was spinning with too many details, excitement, opportunity, and doubt.
We brought together several All-Star clients who volunteered their time to help. One loved details and had just started his own consulting business. Another had come from small business. All loved the opportunity to brainstorm and help others.
We facilitated a one-day session where we explored everything that needed to be considered including, among other things:
- The financial feasibility of the venture and how profitable it could be
- Supplier arrangements
- Whether he would need to take title to the inventory
- Whether he would need a warehouse and logistics management
- What kind of systems he might need
- How many people he would need and what positions
- What questions needed to be answered
- What he needed to negotiate with his anchor client
- What was holding him back
- All the nitty-gritty details that would have completely derailed him
- We even established a year one budget for him
The results were the following:
- A go-no decision on a company that has been in place for over 8 years now producing more income annually than my client made in corporate America.
- The pairing of a big picture guy with one who loves to organize and orchestrate the details that made this venture possible.
- A simplified business venture that allows my client to hold a separate full-time job as part owner and CEO of a family run business.
- A CFO position at that family run business for the detail-oriented consultant who initially volunteered his time, after several years serving as a consultant to the company.
- Two lives forever changed!