XM Solutions is a leading supply chain management company for retail and FMCG-branded companies, and they employ 21 full-time staff at its Head Office in Sallins, Co Kildare.
Emerson says of their rapid rise and expansion:
“As we grew so quickly and as my focus was entirely geared towards the customer, our service and our relationship management, I discovered failings in my business approach to areas such as finance, financial planning, budgeting, cash flow management, strategy and general business structures. I was also lacking in a business confident who I could bounce ideas and aspirations off. To address these issues, I felt I needed a Mentor as I was not prepared at that stage to take on a business or equity partner.”
“I was extremely fortunate in finding my Business Mentor, Mr. Joe Ryan. Joe has a proven track record in running many successful businesses from start-ups to multi-million Euro operations while working for a very large international company. What impressed me initially were not merely his credentials, but his ability to understand quickly the issues my business faced, his aptitude at listening, his impartial but vital advice and his desire not to change or inhibit my passion and drive for clients and sales, but to educate me on the importance of the mechanics of maintaining and developing a strong and viable future-focused business.”
The Mentoring process encouraged Emerson to look at the following areas of his business:
- Financial reporting & monthly management accounts
- Development of a management meeting structure chaired by our Mentor
- Weekly meetings to provide an overview of the businesses performance & development that were previously scheduled monthly
- Establishment of a business plan and strategy
- Cash flow management and its importance
- Identification of required resource structures
- Establishment of staff contracts
- Recruitment of senior staff as the company grew
- Implementation of our “Customer Service Improvement” process
Since the Mentoring Process began with Joe Ryan in 2006, business has grown from 5 employees to 21. Turnover has grown from €1.06 million to €10 million in 2010. Joe has played a huge part in this significant growth by providing the missing tools and skill sets as well as an all-important focus and education on the importance of other areas outside of sales.
Emerson says of the Mentoring process:
“If there is anyone similar to myself, young, driven by ambition, absolutely committed to exceeding their Client’s expectations, without a degree or years of experience in every aspect of business, then they should seriously consider the Mentoring process. I have experienced the results directly on my own business. The personal benefits for me working with Joe has resulted in a more rounded and informed Managing Director with an aptitude for strategy, budgeting, human resources and realisation of the importance of finance. Both myself and my business are far better equipped to manage our continued business growth due to the structures that are now in place with XM Solutions as a direct result of the mentoring process.“
Emerson Palmer realises that Business Mentoring has turned his business around and put him on the road to success. Emerson is currently using Joe Ryan as his Business Mentor
TAKE THE NEXT STEP
The inclusion of a mature, experienced, and capable Mentor is critical for any successful company. For business owners, the issue has always been finding the right person to fit your business and to complement your existing leadership team. Mentors can assist you in your search and find the match you need.