Client success stories
In addition to the Testimonials (right hand side of each page), we have provided some real life examples of what we do below
Case Study – A Private Business
Paul Smith founded his manufacturing business in 2003 and through his vision, hard work and networks has grown the company to a $30m turnover with distribution across Australia and the opportunity to expand into China and the US.
Whilst the business has been growing strongly, Paul was worried about the sustainability of the current growth and about how to make the most of the opportunities that have presented themselves.
In addition, there was no succession plan in place and if anything should happen to Paul, the business would be likely to fail, leaving his young family with little to survive on.
Overall, Paul felt that all the responsibility was on his shoulders and that all important decisions rested with him, without anybody whom he could discuss them with and gain a different view.
AMPLIFi Governance was introduced to Paul to explain how a governing board could help him with the issues he was facing.
After meeting with all three candidates introduced to Paul, he decided that Cameron Brown would be the right person, with the right personality, experience and skill.
Through the implementation of a governing board and with the help of an independent Chairman; the business now has a strategic plan, management that now know the business’ direction, a sustainable succession plan with a Board as its basis and importantly for Paul; robust decision making.
Key Outcomes: Succession – Decision Support – Strategic Thinking – Sustainability
Case Study – A Family Business
Chris and Sue Brindle have been running their successful plumbing chain for 25 years and were thinking about possibly retiring. Their sons Peter and Bob were both working in the business, whilst their daughter Kelli had never had any interest.
Chris and Sue didn’t know who should be made Managing Director, if one of the sons would be most suitable or whether it would be advisable to appoint one of the other senior managers. In addition, the two sons were starting to argue and fight, whilst their daughter also suddenly wanted to know what her shareholding would entitle her to.
The ongoing family conflict was impacting heavily on the family’s well being and Chris and Sue knew that they would need help if their business wasn’t going to be pulled apart by the increasing fighting.
After finding a suitable Chairman for their business, who also helped them establish a family council, business discussions are now kept to the boardroom with the guidance and support from the Chairman. Succession planning is going to be a big part of the new board’s role.
Both sons are on the board, together with Chris and feel that they are contributing equally to the business’ success. Kelli, who has never worked in the business, now feels comfortable that her shareholding is sufficiently represented and the family has started to repair the rifts that started to develop between them.
Key Outcomes: Succession – Stability – Perspective – Sustainability – Maturity
Case Study – TIDE Training
The directors at education business TIDE Training learnt a key lesson in 2013: how to work to live rather than live to work.
As family business owner-operators, the Russell family were all-too-familiar with burning the candle at both ends, and trying to balance family life with the demands of a rapidly-growing business.
In 2012, they appointed a company CEO, and father and son team Thomas and Andrew Russell decided to attend the annual Family Business Australia conference to get some clarity about the best direction for their business. It was here they were introduced to the AMPLIFi Governance team and recognised the need for assistance with governance, business processes and growth management within TIDE Training – all this while retaining the company’s family culture.
Within a few months of attending the conference, the family created a board which included representatives from each family unit involved in the business to ensure a sense of ownership and control was retained by all parties involved. The board’s first task was to appoint an independent director to help them navigate through the various challenges commonly found in family owned businesses, particularly those experiencing rapid growth.
AMPLIFi Governance set about short-listing a number of possible independent board members that were well-suited to TIDE Training, taking into account the business’ culture, goals and needs. They developed a list of interview questions for each candidate and were actively involved in the interview process to help the Russell family gain a clearer understanding of the strengths of each potential board member and what they could bring to TIDE Training.
The Russell family chose to welcome a board member who was capable of directing efficient business processes, managing growth, deciphering complex governance issues and controls, offering an objective viewpoint, coaching and mentoring various family members and assisting the CEO in understanding his commitment to the business and working within a family structure.
“The greatest benefit we’ve received from working with AMPLIFi was being able to regain control of our lives — both personally and professionally.
Our independent board member has helped us to understand the best ways to grow and manage our business, and also diversify our product offering so the business is sustainable over the long-term.
We have also noticed that our business has gained increased credibility with institutions such as banks, government departments and suppliers thanks to the wealth of knowledge the independent director has brought to the table and the increased governance in having established a board of directors.
Most importantly, we’ve been able to focus on placing the right people in the right roles so our family can take a step back and know that the business can run successfully without us being there around the clock. That alone really is priceless as we now have more time to spend with our growing families and are at ease knowing our succession plan is in place and the business is functioning well both financially and operationally.
We can’t begin to calculate the benefits we have taken from this process – we have our lives back, we have regained control of the business and we’re excited about continuing to work with our AMPLIFi director and what the future holds for TIDE Training.”
More detailed case studies
Please follow the links to a PDF case study sheet. These case studies provide specific information around industry, the reason we were asked to become involved, the solution and the director (and remuneration) we placed.