Apr 19, 2013, 5:00am CDT
Why did Greater Yield refocus toward small and midsize companies?
But not anymore. The company, which was founded in 1999, has redirected its focus toward small and midsize companies.
“You look at the economy, and the majority of the businesses that run our country are in the small and midcap range,” said Principal Debbie Womack. “We wanted to bring our Fortune level of expertise down (to these smaller businesses), to entrepreneurs that really need it.”
Greater Yield consults with businesses on how they can run more efficiently, trim costs and improve opportunities without using additional cash.
“Everyone’s trying to be more competitive — do more with less,” said Principal Jim Taylor. “That’s where we come in. We look at the business horizontally, eliminate wasted time and improve the process,” he said.
Greater Yield grossed $2 million in revenue last year and currently has 12 to 15 clients. But with a pool of 110 contractual employees, the company is ready to grow.
“All of our employees are very high-level, senior executives that work on a contractual basis,” Womack said. “A lot of the people we have only want to work (part-time). We give them the flexibility that they want and they provide us with the senior-level expertise that we need.”
Greater Yield works to match its clients’ needs with the skill set of its executive employees, all of whom have at least 20 years of corporate experience, Taylor said.
The company offers services including performance improvement, organizational transformation and risk management.
One offering that has small businesses buzzing is the company’s Board of Advisors service, Womack said.
For a set number of hours per month, Greater Yield employees act as a board of advisers for its smaller, C-level clients that don’t have a trusted board due to the company’s size.
“(Board of Advisors) gives entrepreneurs a level of comfort,” Womack said. “It’s nice to know that someone else is there with a high level of expertise. They know, if something comes up and I’m not sure what to do, I can pick up the phone and have a conversation with (my advisors).”
Smaller, but not easier
Womack and Taylor say marketing their services to smaller businesses has proven to be a challenge.
“We all know what’s going on with J.C. Penney, it’s common knowledge,” Taylor said. “But with $50 million companies and smaller, it’s harder to identify opportunities for our services.”
Greater Yield relies on networking with the advisers of small and midsize companies to make its presence known. “Usually, small to midcap companies think that hiring a consulting firm to come in is going to be expensive and that they can’t afford it,” Taylor said. “Now this is an arrogant statement, but it’s true: We don’t cost you anything, we save you money.”
Greater Yield guarantees to save their clients $5 for every $1 paid for the company’s consulting services. The company’s track record appears to be aligned with this bold declaration.
Greater Yield streamlined the U.S. Navy’s pilot training program from 47 months to 27 months, ultimately saving the organization $50 million per year in training costs.
Joe Lacik, the CIO of a manufacturing, distribution, aerospace and defense company, has used Greater Yield’s services for more than a decade. Lacik did not want his company named for competitive reasons.
“The quality of their work is superior; that’s why I’ve been using them for 12 years,” Lacik said. “They have great resources and experienced people. They get things done quickly.”
NAME: Greater Yield BUSINESS: Business Strategy and Consulting HEADQUARTERS: 15851 N. Dallas Pkwy., Ste. 600, Addison 75001 OWNERSHIP: Private TOP EXECUTIVE: Jim Taylor and Debbie Womack, principals EMPLOYEES: 110 contractual employees ANNUAL REVENUE: $2 million PHONE: 972-308-8533 WEB: greateryield.com
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