From Small Firm to Industry Giant: How a CAD and BIM Company 7Xed Revenue and Grew Its Team 117X!

Background

In the bustling city of Pune, India, a software development company, owned by a dedicated husband and wife team, was striving to make a mark in the CAD and BIM customisation space. Despite their initial success, they were looking for ways to scale their operations, streamline processes, and achieve significant growth. That’s when they turned to Business Coach Tabish Bibikar for guidance. Together the company 7Xed Revenue and Grew Its Team size by 117X

Initial Challenges

When we first began working together, the company was a small team of 13, generating less than a million USD in revenue. The founders faced numerous challenges, including:

• Scalability Issues: Struggled to manage larger projects and expand their client base.
• Sales and Marketing: Lacked a structured sales and marketing team, tools, and strategies.
• Project Management: Needed better tracking and management of software projects.
• Operational Efficiency: Required improved accounting practices and CFO processes.
• Human Resources: Needed to develop proper KRA/KPIs, goal setting, and performance management structures.

Transformation Journey

1. Building a Robust Business Strategy:

• Strategic Planning: Collaborated closely with the founders to define and refine the core business strategy, focusing on long-term growth and sustainability.

2. Initial Efforts and Investments:

• Hard Work and Implementation: In the early days, the founders worked tirelessly to implement the new strategies.
• Revenue Generation: As the strategies started to take effect, they began making more money.
• Hiring Skilled Resources: Used the increased revenue to hire higher-skilled resources.
• Investing in Tools: Invested in better tools to enhance productivity and efficiency.
• Shift in Reliance: Transitioned from relying solely on themselves to leveraging the team, tools, and processes.

3. Enhancing Sales and Marketing Framework:

• Team Structure: Created separate teams for sales and marketing.
• Marketing Tools: Introduced modern marketing tools, hired graphic designers, SEO specialists, and content writers, upgrading the entire marketing infrastructure.
• Sales Training: Conducted extensive sales training, covering sales conversations, objection handling, negotiation, and closing techniques.
• CRM Implementation: Introduced and implemented a CRM system to streamline sales processes.
• Geographical Focus: Bifurcated the sales team based on geography for more focused market penetration.
• Sales Manuals: Developed detailed sales scripts and manuals for the team.

4. Enhancing Project Management:

• Project Tracking: Implemented processes for tracking software projects and creating project dashboards.
• Independent QAs: Introduced independent quality assurance teams to ensure project standards.
• Effort Estimation: Created a project effort estimation budget vs. actual tracking system.
• Resource Utilization: Tracked resource utilization and costs per project for better financial management.

5. Strengthening Financial and Operational Processes:

• Accounting Practices: Installed correct accounting practices and established robust CFO processes.
• Budgeting and P&L Reviews: Adopted practices for creating annual and quarterly budgets, tracking them, and conducting monthly P&L reviews with a focus on gross margin tracking.
• Profitability Improvement: Focused on improving profitability through better financial management.

6. HR and Organizational Development:

• KRA/KPIs Implementation: Developed and implemented proper KRA/KPIs and performance management structures.
• Goal Setting: Introduced structured goal setting for all team members.
• Hiring and Talent Spotting: Coached the founders on effective hiring, interviewing, and spotting the best talent.
• Retention Strategies: Developed strategies for hiring and retaining top talent.

7. Leadership and Governance:

• Founders’ Coaching: Provided ongoing coaching to the founders, offering an outside-world perspective and best practices.
• COO Appointment: Hired a Chief Operating Officer (COO) to manage India operations, allowing the founders to focus on strategic growth.
• Advisory Board: Established an advisory board to guide the company’s strategic direction.

8. Business Focus and Expansion:

• Industry Focus: Created a strong niche in the construction industry and later expanded into the manufacturing segment.
• BU Formation: Formed Business Units (BUs) to manage different segments effectively.

9. Personal and Family Growth:

• Work-Life Balance: Enabled the wife to grow her family, having two children without worrying about sales dropping during her leave.
• Migration and Settling Abroad: The couple was able to migrate to the UK and focus on further business growth and market penetration without being involved in day-to-day operations.

Outcome

The results of this comprehensive transformation were astounding:

• Team Growth: The company grew from a 13-member team to a robust 350-member organization.
• Revenue Growth: Revenue soared from less than a million USD to over 7 million USD.
• Operational Independence: The company started functioning independently, allowing the founders to step back from daily operations.
• Market Position: The company transitioned from being a franchise to an independent entity, outgrowing its principal franchisor and significantly increasing its valuation.

Throughout this journey, Coach Tabish Bibikar remained a personal confidante and advisor to the founders, working closely with them like a team. This partnership not only transformed the company but also enriched the personal lives of the founders, demonstrating the profound impact of effective business coaching.