Trailblazing Inventor Seeks Business Introductions for Growth
Situation at Hand
A prominent trailblazing inventor developed a one-of-a-kind manufacturing process that produces less rework and scrap, saving multi-millions of dollars annually in manufacturing and shipping costs. However, he lacked the necessary resources and leadership to scale his customer base.
Problem to Solve
It was crucial for the inventor to obtain the expertise and resources to properly assess the technical and business capabilities of the innovative process. Plus, he needed to identify and reach fitting partners and customers to grow the company.
Approach and Solution
A summary of the key technical and business capabilities was outlined. Then, the first-year plan was established for growth. Metrics were clearly defined and broken down by quarterly milestones. In the first phase, key decision-makers and customers/partners were identified. Connections between the inventory and potential customers were made. The second phase entailed growing the revenue by double digits and aggressively impacting bottom line growth. Additional customers of interest were identified and sales outreach was launched. A baseline manufacturing facility was set up, while a pilot was executed for special manufacturing needs using investments and grants from various sources and incentives.
Results
2 successful new customer introductions were made…the business value proposition was presented to key decision makers
10-15% increase in bottom-line growth…also utilized tax incentives and grants for revenue growth
1 facility set up…baseline manufacturing and special manufacturing pilot established
Engineering Services Sales and Business Growth:
Situation at Hand
A leading Engineering Service Provider (ESP) has been a major player in the industry for decades and needed to grow its business in a fast-changing environment. It immediately needed 3 – 5 personnel and expected that range to grow to 10-20 resources by the end of the year with a target revenue exceeding $1 million.
Problem to Solve
The ESP wanted to expand its customer base beyond traditional aerospace and defense OEMs with Tier 1-3 suppliers. It was also under pressure to close deals because the 4th Quarter was ending. To support this growth, it required additional resources.
Approach and Solution
Working with the leadership and various industry network groups various criteria like cost, revenue, growth potential in near terms and statistical success methods were used to identify 20 potential customers who are typical buyers of the ESP’s services. The list was dwindled down to the top 5 priority customers who were looking for immediate service and a specialized skill level. We engaged with the client through various methods (i.e networking events, tradeshows, business meetings etc…) A sale was closed with a key customer.
Results
Building Relationship: Closed the sale within 3 months by closely engaging with customers to build rapport, understand their problem, and offer value proposition. Started with 5 personal of different skill level at $0.5 million to grow to $1miilion-$2 million in a year.
Customer Service: A Customer First attitude engaged them successfully while solving their most pressing problems. Customer was extremely happy with quick response time and staff of desired skill level within their budget!
Manufacturing Resource and Operational Efficiency
Situation at Hand
A leading aerospace manufacturing firm experienced troubles trying to deliver high-quality products on time to a large OEM.
Problem to Solve
The manufacturing firm faced two significant challenges which included the lack of skilled resources and the absence of a strategy to provide on time and cost-effective solutions to its customers. The existing suppliers were missing the deadline and not meeting the quality requirements.
Approach and Solution
A list of potential suppliers specialized in specific machining and finishing process for aerospace parts of the required size and type was identified. The criteria used was specific capabilities, supplier track record, enthusiasm, and whether or not they brought value to the customer through cost, product, operational etc efficiencies. In the end, the manufacturer chose supplier(s).
Results
Cost effective: The quoted and completed cost with all the overheads were competitive and within budget. Global competitive rates on material and labor were obtained.
Time and Quality: The materials used were within the approved drawing substitutes adhering to quality requirements and delivered back in a short lead time. 4 weeks lead time and AS9100 quality requirements were achieved. Cost was reduced to about half with saving achieved up to 2X.
Customer Service: Customer satisfaction was of utmost importance. A Customer First attitude engaged them successfully while solving their most pressing problems.
Insight to Make the Right Investment Decisions
Situation at Hand
Top consulting firms are surveying the market in order to advise their clients on sound investment decisions in the core aerospace manufacturing, technology and services sectors. However, they need the help of industry experts to refine their analysis and validate their findings.
Problem to Solve
Utilizing our years of knowledge and experience, we were tasked to help the consulting firms understand the overall nature of the aerospace industry and the important aspects of how business is conducted, market is segmented and what percentage of work yields to how much revenue in each sectors.
Approach and Solution
Quantitative and qualitative analysis was used to identify key factors and indicators that dissolved roadblocks in order to make long-term business decisions. In addition, a deep understanding of people (working with individuals at various level, engineering to executive), operations (working for various organizations, engineering, leadership and manufacturing), and business (working for General, Business and Commercial Aviation) (was combined) with 20+ years’ worth of knowledge in new product development (the commercial, business and general aviation industry specifically in the aerospace engineering, manufacturing) and services sectors. How this works: personal call with consultant to answer all their questions using information obtained above. Once information is found valuable, the consultant works with us to create an attack strategy.
Results
Subject Matter Expertise: Provided alternate insights and thinking processes that were gathered from hands-on experience.
Blind Spots: A strong network of experts and a deep understanding of people, culture, and processes came together to help clients make a profit and position themselves on a trajectory of growth.
Analysis: Understanding when to take high and low road to balance quantitative and qualitative analyses methods that yields accurate and refined results.
Customer Service: Customer satisfaction was of utmost importance. A Customer First attitude engaged them successfully while solving their most pressing problems.
There are several other use cases in progress that encompasses business strategy, sales, innovation and partnership collaborations with academia for quick go-to market and growth and will be presented upon request.