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Laying the Groundwork Business For Growth
Laying the Groundwork Business For Growth
- Business Strategy Development
With over four decades in the industry, GoDesign is an interior design firm that provides renovation and interior design services. The company prides itself on upholding strong values— integrity, service excellence, creativity, stewardship and collaboration—in its mission to craft beautiful, functional environments. This dedication has consistently earned the brand positive feedback from its satisfied customers, proving a major contributor to its long-term success.
GoDesign, like many other firms in the industry, was heavily dependent on sub-contractors to deliver onsite work. As a result, profit margins are reduced, delivery deadlines extended beyond what was promised to clients. Furthermore, the company was working with a three man designer team, which included the director himself. The two designers were paid a very high commission. The business volume was insufficient and profits were too low.
Business Strategy Development
Revamping the Business Model
Our consultant studied the current Business Model and proposed a Rapid Growth Model. The company will double down efforts to recruit new designers from the current 2 designers to 15 designers in 2024. Focus is also placed on increasing the sales leads generation. Deep analysis to find out why the sales conversion rate was low and corrective measures were identified. More leads will be explored. Marketing through Social Media will be stepped up with professional help.
Growth Through Acquisitions
Our consultants worked out an acquisition strategy and plans for the company to acquire key onsite work expertise like Carpentry, tiles laying, etc. GoDesign is currently pursuing this strategy.
- Profit margin projected to grow by 10%
- Productivity projected to grow by 10%
- An increase in revenue by end 2024, and further increase of 40% in 2025
- A 20.5% increase in profit by end 2024, and further increase by 58% in 2025