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July 24, 2017 Issue |
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CEOCFO MAGAZINE |
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Strategic Business Development Consultants providing Mergers and Acquisitions Support for Federal, Defense, & Aerospace, Technology, Telecom, Commercial, Global Health and Wellness, Sports and Entertainment Industries |
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Chief Executive Officer
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Interview conducted by: Lynn Fosse, Senior Editor, CEOCFO Magazine, Published – July 24, 2017
CEOCFO: Mrs. Spaeth, would you tell us the vision of growth (period)? Mrs. Spaeth: The vision, simply put, is to help companies increase revenue generation. This is something all companies, small, medium, or large, can benefit from expert assistance with.
CEOCFO: What do you understand on a fundamental level about revenue generation that most people miss? Mrs. Spaeth: Growth is both a process and an art. Our firm is made up of people we like to refer to as professional killers. We help you win things but do not want to run them.
CEOCFO: Would you walk us through a typical engagement? Mrs. Spaeth: A typical example would be one such as our work with Momentum Aerospace Group, known as MAG. We were hired four years ago to do a “growth to exit” project where they talked about what their goals were for growth and whether they wanted to be bought, go public, or be a lifestyle company. We helped them roadmap how to achieve those goals including identifying what opportunities to chase, what acquisitions to make, and in what timeframe. They then put us on retainer to help them execute their plan. When we started with them they were a $20 million company. Now they are $240 million. I think that is a pretty good example of how we work.
CEOCFO: Over that time period, what changes are you looking at and when do you review? Mrs. Spaeth: We review all of our retained work for each client on a monthly basis because factors that affect your growth that are not in your control can change quickly; for example, if a company with which you are in the middle of a deal suddenly gets acquired. Or if you are trying to work in the public sector and an election ushers in a new administration with a different procurement philosophy. That does not mean we change course monthly, we just go over it every thirty days to ensure that what we are doing stays the most relevant to our client’s needs.
CEOCFO: What do you include that less experienced people would not consider? Mrs. Spaeth: Growth is as much about your company’s management as it is any other factor. People really do make a difference in the lifecycle of the corporate growth process. We want to make sure that they understand that our client’s also understand the difference between business development and sale, as the processes and timelines are different and really do matter regarding how they approach the market. Our firm also works with our clients up front to assess their long term goals for their company and evaluate how they affect their growth trajectory going forward.
CEOCFO: How do you know when someone is right for your company? Can you tell right away if someone will be a good fit? Mrs. Spaeth: No. Usually we have to work with you for a while because the number one characteristic that we value and the number one characteristic that we think is most integral to success in being growers is integrity. As much as you can trust that someone has it, it is important to verify it before you hire.
CEOCFO: Would you tell us about your corporate social responsibility policy? Mrs. Spaeth: For the last ten years we have had a policy where we require every employee – from our support staff to our executives - to perform eight hours of community service a year. We do not care what charity they pick as long as it is a legitimate 501c3 entity. We pay for the eight hours and support the initiative financially, and with other resources, to varying degrees and make sure that in their annual review their efforts are factored into their evaluation. We will support your goals for that initiative and we have great examples of successfully doing that; one of our employees took on running a “Cocktails for Canines” reception for an organization that provides service dogs to disabled veterans. She needed help getting an MC, and was hoping for anyone from the sports world to agree to take on that responsibility, and we our Sports, Entertainment and Hospitality practice lead was able to get her an NFL Hall of Famer to do the job. We go the extra mile to support of all our employees with their efforts. Leadership comes from the top and our employees see the amount of time and effort our senior executives put into supporting non-profits and they follow suit.
CEOCFO: Why is it important for you personally? Mrs. Spaeth: It is how I was raised – I believe that you have a responsibility to participate in your community and the more you succeed the greater the responsibility is.
CEOCFO: Who is turning to growth (period) for services? Mrs. Spaeth: A wide range of companies, some examples are: Next-generation technology companies like Campaign Partners or Teamphoria. Resorts and sporting organizations such as: Nemacolin Woodlands Resort, and Inside Your NFL Experience. Technology companies including Zebra Technologies and Stream. Fortune 100 defense companies like General Dynamics or Lockheed Martin. Small businesses of varying sizes across many industries, ranging from fintech to health and wellness. All of our clients are of different sizes and represent a diverse range of industries, but what they all have in common is that they have hit a place where they need guidance with their growth strategies and with execution. We are very successful at helping them all meet their goals.
CEOCFO: How do you help a company navigate the government landscape? Mrs. Spaeth: We have as a firm collectively over 200 years’ experience helping companies navigates doing business with the federal government. It is a different world, with a language all its own, so our role is even more important for companies that are considering entering the federal space for the first time. Many companies entering the federal space do not understand some of the basic prerequisites to even be allowed to do business with the government, like registering in certain systems and getting codes that the government uses to classify what kind of work they do. We spend a great deal of time putting together a plan that helps them understand the timing of milestones in the federal space for business growth, because the sales cycle to win new work in the federal government is often quite lengthy. We have put together a comprehensive approach to helping companies succeed in this space, including targeting appropriate opportunities tailored to the individual company and advice on how to chase them successfully.
CEOCFO: What would you like to be doing a year from now? Mrs. Spaeth: We would like to maintain our current split of eighty percent commercial work and twenty percent government work. We also have thought a lot about forming some kind of investment entity and doing some investing in some of the companies we are working with.
CEOCFO: Why now? Mrs. Spaeth: We are ten years old and I think whenever a company hits a marker like that it is a big achievement, especially since in the last ten years we have survived the world’s largest recession since the thirties. You take a look at yourself as a firm and determine where you are and where you stand and where you want to be and you learn lessons. One of the lessons that we have learned is that there is a lot to be said for value creation which comes with acquiring an equity stake in entities we are helping with growth versus just wealth creation which comes with growth.
CEOCFO: Why choose Growth (period)? Mrs. Spaeth: We have a ten-year track record of success with an incredibly diverse list of over 100 clients that has been built entirely on repeat business and referrals from current clients. We think that speaks for itself. |
“All of our clients are of different sizes and represent a diverse range of industries, but what they all have in common is that they have hit a place where they need guidance with their growth strategies and with execution. We are very successful at helping them all meet their goals.”- Courtney B. Spaeth
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Contact: Courtney B. Spaeth 703-556-0111
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