Advisory Board for Growth Case Study: ITC Services
Sector: ITC Services
Project Need: governance, accelerate growth potential, alignment
Intervention used: Advisory Board
“When we established our company, we were small, clever, and agile,” said Nathan. “Now we are 126 people and we see the potential to triple in revenue, but we need to encourage a suitable equity investor by implementing proper governance and strategic focus from our small entrepreneurial origins.”
So Australian Advisory Boards Institute established an Advisory Board with an Independent Chairman and over 18 months implemented fit-for-purpose governance, separated strategy from operational matters, and instigated proper board meetings with focus, agenda, and accountability.
The owner directors grew in confidence in terms of their future needs to fund growth, understanding how good governance process and structure would enhance their potential attractiveness to a larger industry investor to enable triple growth and eastern states expansion and to have a sounding board for new ideas and different perspectives.
Key Outcomes: Confidence on Right Path – Fit-for-Purpose Governance – Fresh Eyes – Planned Growth Trajectory – Attractiveness for Future Investor
Advisory Board for Growth Case Study: Professional Services
Sector: Professional Services
Project Need: accelerate growth potential, alignment
Intervention used: Advisory Board, External CFO
Entrepreneurial spirit from the two founding shareholders and director of this award-winning professional services firm specialising in transforming office buildings and shopping centre into energy-efficient, economic, and compliant assets brought rapid initial growth with associated challenge of finance management, communication, and systems.
An external CFO from our CFO was bought in to bring strategic financial advice and disciplines and to identify strategies for improvement and in turn he recommended Australian Advisory Board Institute to create an Advisory Board with an independent chairman to bring alignment, focus, and structure as well as independent perspectives at the board level for managing growth.
As a result of improved governance and focus by the Advisory Board, the minority shareholders’ 45% of the company was subsequently sold to a strategic industry player with huge potential to fund growth interstate and internationally. Independent focus and new strategies have seen business revenue and profitability improve by 30% and the sales pipeline consistently managed.
The Advisory Board meets monthly and the Chair mentors the MD.
Key Outcomes: Decision Support – Strategic Thinking – Sustainability – Fit-for-Purpose Governance