Our client added a second brand to their long established first brand, in an effort to expand their service offering. The distinction between the two brands was not clearly identified or communicated - leaving employees as well as prospective & current customers confused.
A one-day session with leadership team and key stakeholders within each brand identified what was critical and what would make each brand unique in the marketplace. Tonic crafted brand positioning statements and rolled them out internally through messaging workshops. The brand statements became the North Star to help each employee truly understand the brands and enable them to talk to customers and prospects. We also adjusted the marketing materials and activities to illuminate the key distinctions between the two brands.
A trade show and permanent installation fabrication company had been unprofitable since a change in leadership occurred three years earlier. They were still very busy, but people were working long hours and weekends, and there hadn't been raises or bonuses due to the lack of profit. Leaders thought they knew what was wrong but they all blamed someone or something else. The employees were demotivated and frustrated, and injuries started to occur more regularly due to the long hours.
Tonic did an audit by conducting interviews with leadership and key employees. Tonic analyzed the input and identified key challenges. After senior management feedback and alignment, Tonic facilitated a workshop with leadership to openly discuss the challenges and brainstorm corrective actions. Tonic then coached each leader individually, to provide support and ensure that the suggested changes were being implemented. The actions resulted in the company achieving an 8% profit in year one, and a 14% profit in year two.
Our client had a sales team who were also busy project managers and didn’t consider themselves “sales people”. Organic growth happened almost by accident and without strategic intent, creating
challenges for revenue projections and internal scrambling when they were awarded a new project. They needed to better define responsibilities and create a process and strategy to arm the Account
Directors for success.
Tonic conducted interviews with leadership and each Account Director to understand the team, processes, and similarities and differences. We found each AD defined their role differently,
understood the company’s capabilities differently and was leaving revenue on the table. We developed a plan and process for capturing organic growth, which we taught through a workshop that
also built camaraderie and consistency within the Account team. We provided the team with strategies and tools appropriate to account size to help organize the initiative and keep them
One of our clients was running their business without any strategic insight into their finances. Early the following year, they knew exactly how much (or little) money they had made the previous year and that’s how they decided on bonuses. But they couldn’t predict if, or how much, they were going to make this year and certainly couldn't strategically plan for next year. They simply made decisions and ran their business on instinct and tending to the largest fires at the moment.
Tonic implemented a proven methodology for predicting financial outcomes based upon past performance. We analyzed past financial performance and created a structure ensuring an “apples to apples” comparison with the current year. We flowed that data into a tool that creates the ability to have past performance predict future performance. From these insights, we developed an operating budget for the current year and a projected budget for the next year. This allowed our client to to manage their business strategically, invest in growth with knowledge and insight, and achieve greater success.
A solo entrepreneur was running a fast-growing agency and didn't have the time or acumen to keep track of the business. They knew they were doing well and were paying their bills, but she didn’t know if they could invest, hire, or even how much money being made. Additionally, they were running so fast that project budgets were filled with mistakes and reconciliations were delayed and poorly managed.
Tonic was initially hired to organize the agency’s finances. We developed a P&L based upon sold work and captured all of the operating expenses. We developed an operating budget for the current year and a pro forma budget for the following year. We reviewed the budgeting methodology and revised it for accuracy. Tonic now works with the agency as a retained business manager with responsibilities including: annual operating budget development, monthly P&L management, business management coaching and guidance, project budget and pricing reviews, as well as budget defense with client buyers.