Names & Industries have been changed to maintain confidentiality
From $60M to $300M to Exit
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 doing $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.
From Employee to Entrepreneur:
James,* President of a software company produced 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 who invested $61,500,000 to buy out his partners and provide more equity. After several acquisitions, the private equity firm sold the company for $176,000,000 offer and James is a rich man.
From Scientist to Man of Leisure:
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, and execute flawlessly. He sold to a public company for $50,000,000.
From Sales Guru to CEO
Ira* founded his company in 2002 hiring a CEO because he loved sales. Two years ago he fired the CEO for mismanagement and took control back with revenues down dramatically, turnover high and service poor. Ira is a learner embracing and implementing much of what he learns through his Vistage group. The company now has a strong culture of accountability tracking KPIs, getting things done and having fun. Recently the company sold for $35,000,000.
From Manager to Leader:
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 his largest supplier for $12,000,000 and stayed on for a 5 years to grow the company from strong regional player to a multi-channel national brand receiving a large performance bonus for his efforts.
Rising from the Ashes
Six months after joining Vistage Philip’s 6 auto dealerships and 2 body shops was delivered a death sentence when the manufacturer declared bankruptcy. Our group created a Tiger Team two weeks before Christmas, and spent 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 from my group.”
Disaster Recovery
In 2008 Bill* nearly lost his manufacturing company when his $60,000,000 revenue dropped by 50% and losses were increasing exponentially. Bill announced he was leaving our group to deal with problems, but 11 of 15 members, knowing this could happen to any one of them, attended a daylong brainstorm meeting to offer solutions. The group’s strategic and tactical suggestions, plus support and encouragement gave Bill the confidence that he could turn the situation around. He brought in a part time forward thinking CFO; undertook massive overhead cuts of nearly $2,000,000 including relocating to smaller quarters; and stopped taking unprofitable projects. In 2013 the company is profitable again.
From Social Worker to CEO
Archie* lacked the business vernacular and experience so he created a 50/50 Partnership with his friend Bernie. The Company had a great product and was growing dramatically with no long-term vision or strategic plan. When Archie joined Vistage he received, “a crash course MBA giving him the understanding, tools and language in visioning, marketing, strategic planning, leadership, financials, and life balance to grow the company by himself.” The Company has grown from entrepreneurial start up to sustainable, respected provider in the fast-growing education field. They have a strong, seasoned executive team driving the long term and daily operations and are regularly experiencing 25% to 30% growth based on annual and quarterly benchmarks and data.
There is more to life than running an organization
William* described himself as an actuary and widowed father who had spent the past 18 years focusing on raising his three children. His life was his work now that his children had grown and clearly something was missing in his life. I met my wife on a blind date so we agreed to a couple of blind dates. His third date turned into more and 7 months later they set a spring wedding with a honeymoon in Tahiti. This year they are off to Europe. William and his bride have a full life thanks to Vistage.
From Employee to Entrepreneur
Vivian* was President of one of San Diego’s largest training companies and a well-respected contributor acclaimed by her peers. After spending years in the company of other entrepreneurs in her Vistage group she struck out on her own. Recognizing that clients were no longer happy paying high upfront fees Vivian created a new pay as you go model. With virtually no marketing she has all the business she can handle. Her biggest problem today is deciding how hard she wants to work. She is most grateful and happy working for herself.
How Vistage Group 3494 helped some of our members
*Names & Industries have been changed to maintain confidentiality
