We recently had the privilege of being invited to speak to local businesses during US Small Business Week. Local chamber members joined us for a discussion entitled Building Your Performance Pathway. Here are some of the highlights:
- The focus for the day was on competing. Small businesses in Connecticut and NY are especially combating challenges that we don’t have enough control over, namely the rising costs of doing business (taxes, healthcare, regulation, global competition, etc). However, we can respond to these challenges by becoming more competitive.
- What’s often holding companies back in sales is either having the time/attention to devote towards performance management or familiarity/experience with evaluating/building the sales processes that drive growth.
- Chip shared his personal experiences within his family business: trying to get everyone on the same page, holding leaders accountable and ensuring following- through. He and others also spoke about the cost of doing nothing.
- Participant dialogue centered around taking action in four key areas:
Value Creation Partners Announces Chip Flanagan to Join the Team
As of May 1, Flanagan is a Senior Advisor alongside VCP founder Fred Ventresca
NEWTOWN, CT – Value Creation Partners, a business consulting firm located in Newtown, Connecticut, just announced that local businessman Chip Flanagan has joined the team as a Senior Advisor.
Value Creation Partners (VCP) is owned and led by Fred Ventresca. Ventresca and Flanagan first became business associates when Ventresca worked for GE Capital and Flanagan was in search of machinery financing for his family’s aerospace manufacturing company. Ventresca quickly became Flanagan’s “go-to guy” for the growing family business.
“Chip has always been proactive, attentive and customer-focused,” comments Ventresca. “All the skills and attributes that I want to be associated with.”
Chip Flanagan is a dynamic business executive with 40 years of hands-on experience working in his family’s aerospace manufacturing enterprise. The family-owned business was successfully transferred from one generation to the next and then prepped for an eventual sale. Flanagan’s efforts helped ensure his 100+ employee business survived through the many economic cycles and competitive threats they encountered. The business was successfully sold to a larger manufacturer in 2016 and continues to prosper.
Flanagan’s involvement in all aspects of daily business operations has imparted a wealth of hands-on experience addressing a variety of challenges, including manufacturing operations, financial strategy, family dynamics and multi-generational leadership. It is this experience that will broaden the expertise and services that VCP can offer to its clients. Flanagan will guide businesses in all stages of growth, whether tackling the pressing issues of day-to-day performance, identifying and managing risk, or helping to anticipate the unforeseen challenges coming around the corner.
“I offer a different perspective, as far as what can go right AND what can go wrong,” Flanagan says. “I want to help clients avoid similar mistakes so they can succeed. I want to share experiences, coach, mentor, analyze and fix problems that translate into success. Seeking out excellence is what life is all about!”
Flanagan’s vision is right in light with that of Ventresca and Value Creation Partners. “Chip has a passion for helping people, families and the local community succeed,” says Ventresca. “When a local business succeeds, families thrive, jobs are created and the community prospers. Chip will bring that all-in, family-owned business perspective to the table, along with his invaluable experience in the manufacturing world.”
With the addition of Chip Flanagan, Value Creation Partners now brings over 60 years of business experience to its clients, ranging from small businesses to Fortune 300 firms.
About Value Creation Partners, LLC:
Value Creation Partners (VCP) is a transformative business consulting firm headquartered in Newtown, Connecticut. The firm is led by CEO and founder Fred Ventresca and supported by Senior Advisor Chip Flanagan. VCP specializes in sales consulting with a focus on building and deploying the proper sales infrastructure, strategy and performance plans for businesses preparing for, or undergoing, a significant transformation - whether it’s succession planning, exit planning, private equity scaling or sales turnaround. For more information, please visit http://www.v-c-partners.com.
Some of the best years of my career were working with local businesses and providing needed capital to achieve their growth plans. For 18 years, I worked in commercial lending for a market leader and reviewed over $2 Billion in potential transactions. I witnessed first-hand how small-medium businesses (SMBs) are the heart of our economy and the important place they hold in the communities where they exist.
As the cost of running a business has risen quite considerably (due to taxes, healthcare, regulations, etc.) and technology has made competition as plentiful as ever, I decided to form my own consulting practice to serve those same local businesses and help the communities within which they play a vital part. At about that same time, I ran into the folks at Sales Xceleration and what I heard absolutely stunned me:
Not once did I EVER recall inquiring about these sales infrastructure components as a commercial lender (or even when leading acquisition due diligence efforts). Boy, did we miss the target! We simply took for granted how sales came in and then counted on them doing so in the future! This “aha moment” affected me so much that I promptly redirected my ENTIRE consulting practice to solely building sales strategy, process and execution for SMBs. There are terrific finance, marketing and operational consultants serving SMBs; however sustainable, long-term growth and success will always be dependent upon solid top line growth. This requires diligent sales follow-through and consistent sales leadership and execution.
Are you as surprised as I was to learn about the dire need for building a sales infrastructure? I'm willing to bet (and did so by establishing my own consulting business) that we can achieve significant, long-term revenue growth for SMBs by putting in place the sales practices and procedures employed by larger firms. How does your company (or your clients’ companies) stack up? Reach out to me at firstname.lastname@example.org or (203) 364-7747.