Scaling Success: A Case Study of Tailored Business Coaching and Consulting

In today’s highly competitive business landscape, entrepreneurs often seek guidance and support to achieve their goals. Ethique Advisory works with business owners and entrepreneurs who aspire for more sales, growth, and profits. Our approach to business coaching is distinct — we don’t just hand our coaches a fish; instead, we teach them how to fish.

Today, we share a case study of how we helped a second-generation entrepreneur transform his industrial product manufacturing business located just outside of Nagpur to achieve remarkable results.

Understanding the Client

A Second-Generation Entrepreneur

Our client, the business owner, is a second-generation entrepreneur who brought a unique blend of engineering expertise and early corporate experience. His stint in the USA added an international dimension to his business. His company specialises in industrial rubber products, serving two key sales verticals.

The Business’s Core

1. B2B Tier-One Supplier to Cement Factories: This segment constituted approximately 80% of the business.
2. Dealer and Direct-to-Customer Business: Accounting for the remaining 20%.

The strategic division was clear: enterprise sales and relationships were primarily handled by the owner’s father while he managed the dealer and D2C sales.

Setting Clear Goals

When our coaching engagement began in May 2029, the company’s annual revenues were close to 50 crores. We immediately recognised the need for setting clear and achievable goals. The three primary objectives were as follows:

1. Increase Non-Enterprise Sales: Our first target was to increase non-enterprise sales by 50% for the fiscal year ending in March 2021.
2. Define Unique Selling Proposition (USP): We aimed to work on the company’s USP and the guarantee associated with its rubber products.
3. Incorporate Automation and the Digital piece: Introduce technology and digital aspects to their business model.

Gap Analysis and Challenges

We identified substantial gaps in the business operations during our initial assessments for non-enterprise sales (accounting for around ten crores) and a lack of a formal sales process or measurement system. The company’s website was dated and needed a complete revamp.

Tailored Strategies for Growth

Improving Non-Enterprise Sales

To boost non-enterprise sales, we took a multi-faceted approach:

1. Segmentation: We categorised dealers into A, B, C, and D, focusing on high-value dealers (A) for immediate attention.
2. Five Levers Approach: We applied the five-levers approach to improve average transaction values and encourage repeat business.
3. Dealer Management Program: A comprehensive dealer management program was devised, offering structured support and incentives to high-value dealers.

Arriving at the Unique Selling Proposition

Creating a compelling USP was essential. Our approach involved:

1. Understanding Customer Needs: We gathered valuable insights about the needs and preferences of our customers by conducting surveys.
2. Feature-Advantage-Benefit-Value Matrix: We analysed each product’s features, advantages, benefits, and the value it provided to customers.
3. Customer Journey Mapping: We mapped the journey, identifying key touchpoints and optimising the customer experience.
4. Leveraging Digital Platforms: We utilised WhatsApp to share informative videos about rubber production, customer testimonials, and product guarantees.

Read More on how to create a customer journey map

Transforming Customer Interactions

The company started offering guarantees on its products for the first time in the category, a significant shift that transformed customer interactions.

Measurable Results

The journey started in May 2020, and by October 2020, we witnessed remarkable results. Here’s what our client had to say:

“I started coaching in April this year when I attended a webinar by Action Coach and contacted Mr. Ratish. Since then, we’ve been working together on increasing sales. When we compare the data from the last year, we’ve achieved a growth of 150%, which I initially found difficult even to perceive.”

Conclusion

The success of this case study highlights the transformative power of tailored business coaching and consulting. Focusing on specific goals, understanding the client’s challenges, and implementing strategies unique to the business requirements helped our client substantially grow and overcome obstacles. At Ethique Advisory, our commitment to equipping entrepreneurs with the skills and knowledge to thrive in the ever-evolving business world remains unwavering.

Always remember that achieving your business goals is not just about getting a fish to eat; it’s about learning how to fish.