We just finished our 2017/2018 fiscal year at PowerLink. I was working on my final report for our governing board, and one of our CEO Advisors gave me an idea. “You should be blogging regularly about what your small businesses are learning in their Advisory Boards. Let everyone hear the stories about how your clients are growing, meeting challenges, hitting the $1 million revenue goal and whatever other lessons they are learning.” When Peter shares an idea, it’s usually a great one. So, Peter, this series of lessons is thanks to you.
Of the 104 small businesses we helped in this past fiscal year, a I have few trends to share:
- 100% of our owners are in the 27-county Western Pennsylvania region.
- 87% of our owners were generating less than $1 million per year when they started working with us, and 13% were generating more than $1 million in revenue.
- Four companies surpassed the $1M revenue mark while they have been working with their Advisory Board or CEO Circle, and another 8 companies are very close to that milestone. Very exciting for us to be a part of!
- Of our $1 million+ clients, their greatest needs were around leadership development, financial controls and reporting and a longer-term growth plan (~10 years) including succession.
- The five greatest “Lessons Learned” we witnessed were highly customized for each small business in the following areas:
- Recurring revenue
- Recurring lead pipeline
- Branding and social media strateg
- Hiring and leading
- Sales process and pricing
This has been a banner year of growth and new lessons for PowerLink and its clients. We can't wait to see where our business owners will go next!
September 7th, 2018