Construction & Trades

Baltimore Fabrication Doubles Revenues & Improves Sales Efficiency with Executive Coaching

    Client Profile

    In 2014, March Rich and Scott Foreman had an idea to create a business doing the very thing they were most passionate about — metal fabrication. Both had been with separate companies but each wanted to be in charge of their creations. Additionally, they saw a need for high-end, aesthetically pleasing metal work that was lacking in the local market. Today, Baltimore Fabrication is a custom metal fabrication company specializing in commercial and residential projects in the Baltimore area. In 4 short years, the business has experienced excellent growth, Rich and Foreman oversee 20 employees in a 10,000 square foot shop, creating custom furniture, railings, and structural steel for a variety of local architectural projects.

    Client Challenge

    After starting their company, Rich and Foreman reached out to friends and colleagues regularly to mentor them through various situations regarding their new business venture. As time passed, the first-time business owners realized they needed a more consistent sounding board that would advise them and push them in the direction they needed to be going. After being introduced to David Kelly by a friend, they decided that Executive Coaching with The Growth Solutions Team (GST) could benefit them and help them focus on increasing sales revenues.

    “Initially, we had many self-limiting beliefs, thinking we couldn’t do a particular project or we can’t take on risk. David has helped us over the past year to realize not only that we CAN do, but that we SHOULD do,” said Rich. The owners also were reinvesting the majority of their profits back into the business. GST helped them evaluate their current sales model so that they could find ways to improve revenues and profits, and feel more personal success with the work they were doing.

Recommendations & Solutions

  • PHASE 1: SALES & BUSINESS DEVELOPMENT, CASH FLOW

    • Establish a target demographic of clients and referral partners
    • Create a contact marketing campaign to build relationships
    • Develop an effective value message and value delivery process
    • Utilize a sales process for successful conversations leading to new client acquisition
    • Build a network of referral partners who send new opportunities for business (contracts)
    • Examine their debt, P&L, and other financial statements to determine areas for improvement

  • PHASE 2: OFFICE STAFF, TRANSITION TO PROFITABLE WORK

    • Hire key positions (Office Manager, Bookkeeper or outsourced solution, shop workers, project managers, metal fabricators, a detailer and/or estimator)
    • Sales Training for Office Manager – to set appointments with referral partners and potential referral partners
    • Raise Prices, find and gain opportunities for more negotiated bids
    • Test and measure marketing methods (networking, lunch and learns, architect and developer contacts)
    • Recruiting future team members for continued growth in projects and revenue

  • PHASE 3: SALES & PRODUCTION CAPACITY

    • Identify future key positions for team
    • Delegate responsibilities from owners to key team members
    • Create internal processes for each position
    • Equipment purchase and reconfiguration of workflows to allow for more production and sales capacity

Results

Baltimore Fabrication has been working with The Growth Solutions Team for just over a year, and during that time, their growth has been extraordinary. “The Growth Solutions Team makes it easy for us, especially networking. When we need an introduction, GST has an extensive network, and just makes a phone call,” remarked Rich.

The Growth Solutions Team has helped Baltimore Fabrication realize the following results:

  • PHASE 1: SALES & BUSINESS DEVELOPMENT, CASH FLOW

    • Increased qualified referral partners, resulting in more qualified leads
    • Identified a plan to nurture referral partners
    • Established ROI actions
    • More than doubled revenue in 2017, and anticipate doubling that in 2018

  • PHASE 2: OFFICE STAFF, TRANSITION TO PROFITABLE WORK

    • Increased staff from 6 to 20 employees
    • Established approximately 20% increase in prices
    • Improved profitability for owners

  • PHASE 3: SALES & PRODUCTION CAPACITY

    • Identified 20% of owners work to be delegated to other employees
    • Created processes for employees
    • Developed plans for equipment purchases to increase production

Baltimore Fabrication has achieved the benefits so many Growth Solutions Team clients are able to realize. “Operations, production, and business development have all improved. Things just run smoother,” commented Rich. The Growth Solutions Team will continue to support Baltimore Fabrication as they continue to grow this year.

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