12/01/2023
How a commercial roofing provider hired a CFO that shifted the culture to focus on how their customers valued their service offering and to sell on value over price – increasing sales by 30% and adding 200 points to the bottom line.
EXECUTIVE SUMMARY:
An $18m full-service commercial roofing installation, service, and repair company had a strong value proposition and experienced consistent year-over-year growth. They needed a CFO to partner with the President to help them grow profits along with sales, while also transitioning to a new ERP system.
The hired candidate shifted the culture to sell on value over price and look for ways to expand the profit margins.
The result:
The company has grown 30% from $18m to $24m with 200 points added to the bottom line.
THE CHALLENGE:
POISED FOR GROWTH
Our client provides roofing installation, re-roofing, service and repair, and skylight installation services to commercial general contractors, building owners, and property managers in the Midwest. The $18m company had a strong value proposition and was experiencing consistent year-over-year growth, what they needed was a strong CFO to partner with the President to help them get to $30m.
OUR SOLUTION:
PROFITABILITY
Misura Group identified the need to recruit an executive who could implement processes to help the company grow the profits along with sales, as well as manage the transition to a new ERP system. The company pays their employees higher than market value, which makes it a desirable place to work but was not optimizing their profit margins. The CFO needed a proven history of success growing the bottom line, with the technical aptitude to manage the ERP transition.
THE RESULTS:
CULTURE SHIFT
Being a small company with many tenured employees, things were often done “their way” and not necessarily the “best way”. The new CFO led a culture shift so that employees own the outcome as well as the input. Praise both the results and effort that got them there.
The CFO partnered with the President to create a sales strategy to sell on value and not price – “don’t give the farm away” - and to be more selective about the jobs they accept. They have a reputation for high-quality, top of the line products and services – so bid that way.
FINANCIAL IMPACT
It took the first year to tackle the transition to a new ERP system, clean up payroll, implement new processes, and shift the culture. As a result, the bottom line has gone up 200 basis points while sales have grown 30% from $18m to $24m.
WHAT THE CANDIDATE HAD TO SAY:
“I have worked with recruiters in the past who just focused on filling the role, matching what the title was and not my qualifications. Misura Group actually made it about finding the right fit. I felt like they set me up for more long-term success.”
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