Claudio Bucceri had purchased his dental lab from the founder two years before we first met. He knew the technical and operation end of the company, which makes dental fixtures, inside and out. After a couple of years, however, the business was slipping and he decided he needed help, and quickly. Recommended by two former clients, Claudio called me. At our first meeting I asked Claudio if he could tell me:
- The cash flow requirements for the coming weeks
- The gross profit generated by each product line, and
- The profitability and relationship value of his clients
Claudio’s honest answer to each of the above was “No.” I was clear with him that if he didn’t track key indicators like these, his business was at risk. Like Claudio, many first-time owners understand how to deliver their product or service better than they know the the development, management and financial aspects of running the business behind it. As Claudio put it, “I’m definitely a dental technician first and a businessman second.” I helped Claudio learn his business’ vital signs and how to keep it alive and growing. In the process, Claudio was able to:
- Assess his organization, systems and reporting and identify areas for potential development
- Define and promote his brand identity, enabling him to develop a web presence and capitalize on his unique credentials in his industry
- Discover how to evaluate specific customer revenue and turnover trends
- Streamline cash flow management
- Increase profit margins by strengthening his pricing model
- Learn strategies to deal with employee and productivity issues
“Fred’s honest approach was particularly effective, he calls it like it is. That’s what worked for me. Fred was able to bring clarity by reviewing reports, letting me know what looks good, what doesn’t look good. He would say, ‘This needs to change quickly,’ or ‘In the next three months this must be corrected or else,’…. I appreciated working with him, rather than someone who is wishy-washy or beating around the bush. ”
Claudio also found my dual business-operations background helpful in providing direction from both a precise detail and “big picture” perspective. As a result of our work together, Claudio gained the tools to confidently and successfully move his business forward.
“Fred has a very wide background and a lot of practical experience,” Claudio says. “He knows operations, he knows the numbers and he understands what it takes to run a good business. “
“I have a better grasp of what is working and what is not. I feel more in control of the business. We have better cash flow,” says Claudio. “All of the results that we expect haven’t surfaced all the way yet, but I am confident we are heading in the right direction. I would enthusiastically recommend Fred.”