The company is one of 14 on the High Growth programme run by GLE Growth Capital, designed to put SME companies on the fast track. The London Development Agency is funding the programme, which was launched by Gordon Brown when he was Chancellor.
London Companies with at least £1m turnover that intend to expand can receive nine-months’ support from a coach who has been a chief executive of a growing and successful business. The course includes regular workshops on performing for high growth.
Paul Drew bonded immediately with his new coach, sales guru Juliette Denny, who set about turning the company’s focus from selling high quality glossy corporate videos to a sales pipeline that was product-led.
The production team began an aggressive sales drive offering short, sharp videos that delivered tightly targeted messages. It was a campaign that struck a chord with many corporate clients who might otherwise have shied away from the prospect of expensive and time-consuming productions.
“Our coach Juliette stopped us selling a service and treated it like a product. She coached us in sales techniques, so that we are now much better equipped,” Paul commented.
“Prospective clients in a sales meeting might be enthusiastic, but they may not have the budget, or they may not be the decision makers. The client might have his own in-house video unit, in which case we would offer to take elements of the production, where we could add the gloss that is our hallmark – something that they would not have the skills to do.”
Following the sales training, Communicator’s new video product quickly outstripped sales of the traditional video service the company had been producing since it started 21 years ago, doubling sales from the previous quarter.
Zubair Aleem, managing director of IT provider Quadnet Ltd had an altogether different problem. The company was losing £30,000 per month during the final quarter of last year, when High Growth coach Permjot Valia stepped in to help.
“I never managed my staff before,” admitted Zubair. “Sales is all about motivation, and if the team are demotivated they are not going to sell. We had to set clear and realistic sales objectives, and we had to make decisions quickly.”
The company has now stopped burning cash and is back in profit. The business is expecting to increase profits by 20 per cent, despite a £1 million drop in turnover to £6 million.
Jenny Tooth, GLE Growth Capital’s Business Development Director believes the High Growth programme is an ideal opportunity for companies to power their way out of recession: “This programme could be the most valuable priority for companies to ensure they stay on course for growth. They can benefit from the experience of a coach who has already A survived a recession.”
The High Growth programme has space for up to 35 companies, and GLE, like its clients, is keen to attract new business.
Companies interested in the High Growth programme should contact Jenny Tooth at GLE Growth Capital.
020 7089 2331 email: firstname.lastname@example.org