Insights
- The company was a high-flying business using sophisticated technologies in a highly specialized industry
- Maintaining year-over-year growth was proving increasingly challenging
- The CEO was overwhelmed with the amount of day-to-day work running the business
Action
- The Newport partner conducted an independent assessment of the company
- The expertise of other Newport partners was tapped to assist and identify key issues
- Client concentration, CEO overload and dependence on large government contracts had resulted in the company’s defocus from the development of products destined for scalable commercial markets
- The Newport partner helped the company scope its market, refresh its product strategy, identify areas of demand growth and address the needs of new commercial clients
- New strategic partnerships were forged that accelerated growth prospects
- The company was professionalized in all silos of operation and an exit strategy was developed
Results
- The Newport partner’s deep background led to a better understanding of how technology, finance and strategy had to be integrated to achieve long-term success
- The partner assisted in recruiting new board members, networked with industry leaders and larger corporations, and attracted strategic partners that could benefit from the company’s innovative products
- The Newport partner helped the company prepare for institutional funding by connecting it to market leaders, as well as developed a professional board, a dynamic market strategy, and a competitive pricing strategy
- A new organizational structure was also formulated to effectively support the company’s future growth
