Open Air Fit Case Study
Planning Phase
OAF started working with JFP in 2015. The initial planning exercise allowed me to step back from the business and take a clear view of all the issues I was confronted with. It was a very powerful exercise which allowed me to challenge myself and logically, and without pressure, develop a clear Plan on how to move forward with a clear set of Actions, to drive the process and change. JFP also created a 5 year P&L which was a very good reality check on all the ideas that were discussed. Issuing the planning report and leaving it with us for 5 weeks before revisiting to check all the assumptions were sound, was very effective.
It gave OAF a clear, agreed start line and direction.
Implementation - Process
JFP quickly set up a Board Meeting (BM) process which we have followed over the last 6 years. In that time the fixed Agenda has changed to suit the circumstances and challenges prevalent at the time. Whilst for most of the period the meetings were monthly they moved to bi monthly and include ad hoc meetings where necessary, but the format remains the same. They are ACTION driven. This consistency has ensured that we tackled all the key issues appropriately, in a timely manner and most importantly did not drop the ball.
JFP have been involved in the non exec chairman role, which naturally evolved. The big plus is they will work with you to meet whatever your requirements are and are very good at adapting their level of involvement too e.g. the pandemic.
Implementation - Annual Reviews
Every year we have held a strategic review, which began with the original plan, and has now evolved into a relatively straight forward annual assessment of what we achieved in the previous year and what we intend to achieve over the next 3 years and in detail the immediate year. We ensure we know what our objectives are at all stages and every effort is made to meet them.
Issues
Conflict management
Direction of business
Teamwork and commitment
Recruitment of a No 2 for succession
Conflict on speed and direction of sales process
Mentoring key staff
Pandemic Impact
Outcomes
Creation of a Shareholders Agreement
Managed exit of Partner
Ongoing development of the business direction
Implemented a long term management process – incl regular Board Meetings managed in the non exec chairman role
The business is now planning for the future
The owner has a trusted mentor/coach to rely on
Improved business communications
Management confidence
Additional Points
JFP have definitely helped the progress of the business and been able to offer clear advice at all times. They have a wealth of experience and contacts. Having them alongside during some difficult periods including the Pandemic to help make difficult decisions and see them through. The more I have worked with JFP the more I realise the strengths and skills they have brought to help OAF over the years.
I would strongly recommend them in any non exec role within a business. Their flexibility and ability to adapt there input to the prevailing circumstances is invaluable. They are easy to work with.