Creating a clear strategy for growth is among the major reasons why a business may turn to mentoring.
BFM Staffs Ltd, a facilities management company based on the Sneyd Business Park, Stoke-on-Trent, is a strong, thriving business but called on the support of Let’s Do Mentoring when Managing Director Mick Burgin saw growth plateau.
“BFM was set up in 2009 and has consistently grown year on year,”
said Mick.
“I started the business in my garden shed and we now have 16 staff and contracts across the UK, including support contracts for 400-plus care homes. In the last 18 months growth has plateaued, we could see the potential was there for further expansion, but we needed strategic business advice.”
After being told about Let’s Do Mentoring by a Growth Hub adviser, Mick was paired with mentor Sean Farrell, a business coach with a strong track record of helping companies to grow. Sean has supported BFM to put plans in place which have led to forecasts of an increase in turnover of around £3 million over three years.
“The mentoring has been shared with everyone in the head office team and has been embraced by all - there is a real buzz and a sense of renewed purpose throughout our team,”
said Mick.
“I am an electrician by trade and we grew the business by simply taking on more work, but there comes a point when you need a business strategy in place.”
Sean said:
“BFM is an excellent company with a strong reputation and a superb customer base. They had previously shown good growth but, as with many companies, momentum had stalled a little and, at that point in the life of a business, getting outside support can give a company a boost. “We looked at who the customers are, assessing exactly which ones offered the potential for growth - targeting the right customers is essential to a growth plan. It was important to involve the whole team, not just the Managing Director, to ensure everyone bought in to the business strategy.
“Identifying and targeting the most productive markets for growth, together with excellent financial management is the only way to ensure consistent, high level business performance.
“As a mentor, I look at putting processes in place, but the onus is on the company team to set their own tasks.”
For further information on the Let’s Do Mentoring scheme please contact Ann Steele at Staffordshire Chambers of Commerce. Email ann.steele@staffordshirechambers.co.uk.
Mentoring outcomes:
- Development of a growth plan with buy in from each member of staff
- Introduction of excellent financial management tracking
- Ongoing continuous performance reviews.