Case Study Company E: Ferris/Turney
Company Profile
Company E is a highly specialized construction company-a general contractor that specializes in tenant improvement projects; within this market, they primarily work on sensitive environment-occupied space projects.
Company E's construction services focus on Medical and Dental Clinics, Hospitals, Biotech and other Processing Laboratories, as well as a mix of Business and Class A offices, retail and showroom spaces.
Company E also performs turnkey design-build tenant improvement alterations and renovations; its service department provides customers with fast response design-build small projects along with commercial repair and maintenance projects, many are initiated and completed within days and hours when required.
Annual Revenues: Available upon request
Employees: Available upon request
Locations: Available upon request
Situation
The CEO/owner of Company E had spent the past 6-8 months reorganizing the company in order to position it for growth. The administration of the business had been taking more and more of the owner's time and his sales efforts were being impacted by the growing amount of time being spent in the office and away from responding to client requests for pricing and proposals as well as visiting and working with his site project management. The owner needed an administrative office set up that would provide him with timely and dependable data with which he could run his business on less than 15 hours per week of administration and financial reporting review.
Solution
Barry MacKechnie, founder of CEO Services, initiated his proven methodology and process for helping CEOs and business owners analyze their business operational requirements and then establishing the procedures and hiring the personnel to maintain the systems and daily reporting required to operate a business successfully.
MacKechnie worked with the owner of Company E and reviewed the current financial operations and personnel requirements. MacKechnie worked with the owner on identifying and contracting the services of a contract CFO that would provide the business with strong financial oversight as well as providing guidance to the controller and other administration staff. The owner and MacKechnie developed the scope of services for a two phase contract that was negotiated with a contract CFO services company. A CFO with strong financial background was brought in for Phase 1 to reconcile the financial information and provide the owner with accurate current financial statements. Phase 2 utilized the same CFO to provide guidance and training to a newly hired controller as well as provide oversight on the daily, weekly and monthly operations of the office team. That same CFO will also review the financial statements at the end of each month with the owner to confirm its accuracy and reliability. The contracted services provide the owner with a consistent team that is working as a cohesive unit to provide him with accurate and timely financial data as well as enhanced monitoring and reporting methods.
Client Comments
“Barry helped me to understand more clearly what it means to think like a CEO; helped me to gain clarity in role descriptions for the financial operations of the business.
“Barry walked me through each step of restructuring the financial operational roles and systems; he outlined and implemented a model for deploying global strategic goals throughout every strata of the company. Barry was able to do this in a very unobtrusive and seamless fashion. It was surprisingly easy and he always made it fun too-I did not expect that in a restructuring exercise!”
“Barry has developed an excellent practical model of effectively implementing and accurately monitoring actions that fulfill goals. This is a model that runs all the way up, down and throughout the organization. One of the real beauties of Barry's model is how versatile it is-it can be used for virtually any type of strategic goal implementation, from the simplest to the very complex. It is a very impressive, very well designed and user friendly model!”
“Barry always brings a very infectious positive "can do" attitude to his work. He is very actively engaged and demonstrates a genuine desire to see me as an owner and everyone in my business to enjoy greater levels of success. We have all enjoyed his charismatic style.”
“Barry was extremely helpful in redefining the roles of the financial side of the house. Our growth had created new role requirements and new systems to support and sustain our growth as well as keeping us on our desired growth trajectory. Along with redefining the roles he assisted in the hiring process of both outsourced and in-house personnel.”
“Barry's implementation methodologies are surprisingly simple to implement. The model's magic is that it breaks the goals down to specific actions steps that are easily understood and performed by all levels of employees. And, it has built in monitoring mechanisms so it is obvious when an area needs bolstering and when it's time to celebrate.”