Challenge
Like many professional practices, FMVC’s process for growth had evolved and they needed a more structured method. After being in operation for 50+ years, the Directors recognised that a full plan for the business’s development, marketing and sales was lacking. Plus, three of them were due to retire and no succession plans were in place. In short, the Directors felt they were no longer in control of their own business.
Approach
Initially, we put together a programme of workshops to introduce a structured approach to strategy and marketing, introducing the concept of visible experts as an alternative to direct mail and other forms of promotion (something the Directors felt was counter to the culture they were keen to preserve).
We were then able to help FMVC access grant funding which we used to deliver a series of workshops on Governance, the role of the Director, leadership, and performance support. As a direct result, Directors meetings started being held every four weeks, focusing on both strategic management of the business and day to operations.
We were retained in a Board Advisory capacity, attending Directors’ Meetings and providing additional support on succession, and other areas including IT and telephony, and farm sustainability. In 2019, we ran a strategic review programme to evaluate results and re-set the company’s growth plans.
Results
Two new directors have been successfully inducted onto the Board and are buying into the business. The annual Sheep and Goat Dairy Conference, launched in 2016 as a direct result of introducing the ‘visible expert’ marketing strategy, attracts 100+ delegates and turned a profit in 2019.
FMVC recently demerged to ease future succession and delivers annual growth. Additionally, the Directors now feel confident in their ability to run the business. The company has also developed a successful spin-out project, FM Vet Solutions, which creates products to support farm vets and farmers.
