Price
249% increase in revenue
Audience
648% increase in net profit
Scale up company Cox London design, manufacture and retail made-to-order lighting and furniture. Selling to luxury markets in the UK and worldwide. Husband and wife team Chris and Nicola Cox started manufacturing from home in 2000. Even building a foundry in their garden shed to scale up manufacturing.
They are creative artists who are passionate about their business and its products. Yet felt they lacked the business acumen to take the company to the next level. When Gil Devlin started working with them, they knew they wanted to become a scale up company. And wanted to establish clear objectives of business.
Gil has provided amazing support and constant motivation for how we look at both our personal goals and those of our company, Cox London.
Gil has introduced us to many different aspects of business that we had no knowledge of before and when we come up against a hurdle she is always on hand with a suggestion or an alternative view.
It’s all too easy for us to ignore the truth behind running our own company.
By setting systems in place we have freed up time to achieve our goals.
“We are more aware than ever that knowing our figures is central to knowing our business, as well as decision-making and forecasting.
Strategy for growing business
Like many business owners, Nicola and Chris were busy in the day-to-day business operations. Designing and making products. And winning the sales to keep the business going and pay their team.
Gil worked with them to define their long-term personal goals. And set a shared vision for how they wanted Cox London to evolve. To become a scale up company, they converted their business and personal goals into plans. And created week-by-week action plans every 90 days as part of their business coaching.
Knowing your numbers
With Gil’s support, Cox London implemented financial forecasting and monitoring. Including ongoing profitability analysis of different products and sales channels. Now Key Performance Indicators support all Cox London’s objectives of business. This has resulted in logical, rather than emotional, decision-making. Helping this scale up company make smarter choices. And proving that knowing your numbers is a critical strategy for growing business.
How to increase efficiency
Efficiency and repeat business lead to increased profits. Gil guided Cox London in many ways to help reduce manufacturing lead-in times. As well as scale up manufacturing capacity and improve workflow. A critical project was to help understand the importance of knowing your numbers.
Another key breakthrough was defining customer profiles. Enabling them to market the right products at the right price to the right customers. By implementing new systems and processes they became a scale up company.
Motivation for sales team
When Gil started working with Chris and Nicola, they were Cox London’s salespeople. They became motivated to create a sales team to scale up. Now they have a sales team of more than five. Together, they created a sales process to maximise the conversion of leads into sales.
They implemented systems and processes for tracking and analysing marketing. And can identify which sales and marketing activities generate a return on investment.
They assess if orders are on time, in full and on spec. Focussing the entire team on first-class customer service. Because ability to deliver underpins the customer relationships and retention.
Gil and her team delivered sales training to the Cox London sales team. This has resulted in better sales techniques and motivation for sales team. As well as improved conversation ratios and higher average order values. The training was vital to help them become a scale up company.
Ready to become a scale up company?
You’ve read about the benefits of having a shared vision. Becoming a scale up company needs clear personal goals and objectives of business. A business coach will help you clarify these. And support you in knowing your numbers and implementing corresponding systems and processes.
All which align with your strategy for growing business. Enabling you to scale up manufacturing or your business in any industry.
The first step in becoming a scale up company is for us to have a conversation about your personal goals. And see how we can achieve these and your objectives of business together.
