Case Study

Boosting Company Performance Through Developing a Board of Directors

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Insights

  • A natural gas processing company needed to develop a board to provide market perspective and guidance
  • The company’s leadership team was young and aggressive, but had limited background and experience in the field

Action

  • The Newport partner was engaged to help evaluate the company’s needs
  • Trust was built by implementing small operational improvements throughout the organization
  • A strategy of customized equipment offerings was envisioned and developed
  • The Newport partner helped deal with certain legacy partners who were hindering efforts to move the company to the next level
  • New employees were recruited with the needed skillsets
  • Processes were developed and implemented
  • Ultimately, a board was created and members were recruited

Results

  • The Newport partner continued to advise the company as a rapid growth spurt evolved
  • The company ended the fiscal year at 6x greater sales than the previous year
  • This sales increase was 4x the maximum sales rate previously experienced
  • The company’s run rate accelerated to $75 million per year
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