Three Tips for Faster Growth from DWH ConsultingBy Amanda Lewan on November 25th, 2015 /
More often we’re seeing companies expand to open up a Detroit office. For DWH, a business consulting firm founded in 2006 by Doug Wilterdink, their Detroit clients were literally asking them to open up shop in Detroit.
Now a year along their Detroit location, Director Ericka Warmack shares with us some tips and insights from the world of scaling companies. DWH specializes in business consulting through assessment, unique modeling, and forecasting.
“The company recently opened a Detroit office because the demand was there. Clients were asking them to,” she said. “We also saw opportunity in Detroit, with succession planning, transitioning businesses over to a younger generation.”
A Chicago native, Ericka now works to provide intensive business consulting and financial insight for companies scaling. She joined the Detroit office in February 2015. The type of growth she helps foster is something a startup might not be ready for yet, but usually has big ambitions for.
“If you’re at 15 million and you want to go to 100 million we’ll go through and assess your leadership, your finance, and your operations and marketing for opportunities for improvement and make suggestions on what you can do to see more growth,” she said.
What could a startup or growing company do now to prepare for faster growth? Ericka suggests several valuable tips below.
Develop processes. One thing their firm advocates for is systems and processes to be put in place. Often she sees companies aren’t systematizing their work. Ericka suggests to list out every single step needed, for example, to promote one of your products. Make sure everything has a systematic process around it.
“A lot of businesses grow so they can be sold. If an investor looks at your business and says ‘Wow!, you have consistent systems in place that seem to be working’ that is more attractive,” said Ericka.
Hone your value proposition. Something Ericka suggests for any startup is to really think about the value proposition you’re offering. Think about what you offer to the customer. Every decision should support your value proposition. Does your growth plan capitalize on it? Do you have a clear strategy for the value proposition?
Be strategic with hiring. Developing a strong team is always crucial for a growing company. You have to have a team. You can’t do it yourself. Ericka suggests to hire people that really bring something to the table to grow the company.
Ericka herself got into the world of business and financial consulting to help make a greater impact on the health of our communities.
“For me, being involved in finance directly, I’m making decisions that improve the organizations within a community,” she said. “When an organization is sustainable it continues to grow and provide services, products and jobs that impact the greater whole. The community’s life expectancy will increase as its income and wealth increase, too. As a new Detroiter that is important to me.”
The firm typically works with leadership in the company. Check out more from this business consulting firm at DWH.