Company: $2.7M Specialty Concrete Contractor
Value Problem: One client represented 30% of revenue for a specialty contractor.
What Wasn’t Working:
- One general contractor represented 30% of the company’s revenue which put at risk the possibility that if the firm lost that customer it would have a major impact on the profitability of the firm.
What was done:
- Immediately relationships were developed and built with other general contractors while the firm began bidding on new projects for these new potential customers for the firm.
- The firm gradually added new customers while keeping the relationship with the top customer and eventually reduced the 30% of the overall business from the primary customer to 22%, then to 15% while adding new customers, thus increasing the total company revenue substantially and not losing anything from the existing customer.
Value Driver: Revenues continued to double annually and EBIDTA increased from $400,000 to $3.1 Million.