Optimise4

South West SME in the Healthcare Sector - Executive Coaching and Mentoring

Objective: The Managing Director had recently become the sole shareholder having bought out the family's interests. He wanted to expand the business. However, the Company's bank was not confident that the Company was 'an ongoing concern'. The objective was to develop the MD's skills and produce a business plan that would instil the bank's confidence in the business and therefore gain their support.

Activity: A programme of Executive Coaching and Mentoring support was provided to the Managing Director to develop his management skills, address the issues facing the business and create a strategy for business expansion.

Services: An Optimise4 Associate worked one to one with the Managing Director to investigate his strengths and weaknesses, and the business model through a series of face to face and telephone based meetings.

Outcome: A 5 year business plan was written and presented to the Company's bankers in early 2008. The central theme of the business was to grow the Company from a 42 bed to 400 bed operation without diluting equity and to secure an exit for the shareholder within 10 years. An Executive search was initiated for an Operations Director and a Finance Director. Corporate Governance procedures were put in place. The presence of an experienced mentor fronting the plan persuaded the bankers to support the Company.

Value: Operations and Finance Directors were hired in 2008. During the 2008 credit crunch the Company successfully raised 9M GBP in bank finance to support a swap facility to acquire 3 residential care homes, bringing the number of beds under management to 180. Consolidation is well advanced and the Company is positioning itself for additional acquisitions in 2009. The Optimise4 Associate is now a non exec director and continues in mentoring the MD.