When I started Vistage six years ago, I was about to embark on the wildest ride of my life. At the time I was totally unprepared for it. The largest team I had led was six people, and as a CEO of a new spin-out company, I was about to take the reins of a brand new 300-person company making $60,000, 000 a year in sales. At the start, it felt like an out-of-control truck careening down the highway at 90 mph with the wheels coming off. Vistage helped me get control, build, and execute a highly successful plan. The speakers, peer group, and chair mentorship were indispensable. I formed the necessary leadership and management skills to rebuild and develop my executive team, build my company structure, culture, and vision, and solve some of the most seemingly insurmountable challenges. It all led to an exciting six years of growth (to $300,000,000 in annual revenue) and a highly successful exciting exit.
James, President of a software company was delivering double-digit growth six years in a row but was unable to maximize results as his two partners disagreed on almost everything making execution extremely difficult. Finding the situation untenable, he found a private equity firm to buy out his partners and obtain more equity. After several acquisitions, the private equity firm sold the company for $175,000,000 offer and James is a rich man.
For 15 years Andy built his technology products and team and 4 years ago, joined Vistage. Members helped him to hold his team accountable, upgrade his team, improve his technology, develop policies and procedures, flawlessly execute. He recently sold to a public company for $50,000,000.
Roger was hired as President by an aging founder to grow a tired distribution company. The company was stuck with lackluster performance and declining profits. By creating accountability, helping people become what they never thought they could be and developing a new supply chain, he was able to grow revenue from $27,000,000 to $37,000,000 and EBIDTA from $4,000,000 to $11,000,000 in 3.5 years.
Archie and his friend Bernie were 50/50 partners. When profits began to dwindle, Archie became frustrated and joined Vistage to learn what Bernie knew. He built up his confidence, took out a loan and bought out Bernie. Under Archie’s leadership, the company’s revenues have grown from $6,000,000 to $40,000,000 and from 200 to 1300+ employees.
Ira founded his company hiring a CEO because he loved to sell. Two years ago, with revenues down dramatically he fired the CEO for mismanagement and took control. Ira is a learner embracing and implementing what he learned at Vistage. With a new culture of accountability, tracking KPI’s, getting things done and having fun and sold for $35,000,000.
Elliot’s home improvement company was experiencing rapid growth. With the assistance of his Vistage group, he learned to delegate, relinquish control, help and support to weather the recession and positioning the company for sale. He was acquired by the largest manufacturer in their category for $12,000,000 and stayed on for 5 years growing the company from strong regional player to a multi-channel national brand and receiving an additional $8,000,000 performance bonus for his efforts.
Six months after joining Vistage Philip’s 6 auto dealerships and 2 body shops with $140,000,000 in revenue was delivered a death sentence when the manufacturer declared bankruptcy. Our group created a Tiger Team two week before Christmas and spent all day Saturday developing survival strategies and winding down the business with 350 employees. He operated the body shops, and neither he or the business was forced into bankruptcy. Philip says, “I could never have done it without that initial help, and the ongoing support. This is the best group I have ever been part of.”
In 2008 Bill’s $60,000,000+ revenues dropped below $30,000,000 with losses increasing exponentially and he decided he had to leave the group to deal with problems. Members, knowing this could happen to any one of them, attended a day-long brainstorming session suggesting both strategic and tactical alternatives. The guidance, support and encouragement gave Bill the confidence to stay and fight making nearly $2,000,000; relocating to smaller quarters; and stopped taking unprofitable projects and today he is profitable again
Prior to joining Susie had revenues of $20,000,000 heading for $24,000,000. As she was coming to her first Vistage meeting her biggest customer terminating its contract reducing revenue to $8,000,000 requiring laying off 100+ people. At her first meeting, our speaker described non-bank financing She engaged him to find financing to buy out her biggest customer and now has a run rate of $24,000,000.
Vivian, President of one of San Diego’s largest training companies, decided after spending years with Vistage entrepreneurs started her own company. Recognizing clients were tired of paying high commissions, creating a fixed price model and today she cannot handle all the business. Today she decides how hard she wants to work and loves working for herself.
Alex had a series of poorly performing clinics. He adopted a modified EOS/Traction framework, built out his executive team and willingly closed unprofitable clinics. At the end of the year, Alex doubled his $4,800,000 revenue in a year.
Alice a controlling CEO realizing she needed a strong team, hired a President and COO to increase accountability. She defined company values including her signature “100% jerk free environment.”; Her employee happiness score hit 4.8 out of 5 and replaced weak performers rather than tolerating them. Her revenue increased from $5,300,000 to $16,000,000 in 2.5 years.
William, an actuary and widowed father, spent 18 years raising his three children. Now with children grown up, his life was his work and clearly something was missing in his life. We agreed to him trying a couple of blind dates and 7 months later his third date turned into a spring wedding honeymoon in Tahiti. This year they are off to Europe, and they have a full life thanks to Vistage.
*Names & Industries have been changed to maintain confidentiality.
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