Blueprints for an acquisition and exit

Joining the course, “My mindset was that we needed to do something about our business growth. I wanted to know, where we could go, what I should look at, and ultimately, to get an exit strategy in place.”

The learnings from the course helped Richard answer his questions and drive the business forward with purpose. It also gave him the confidence to make some significant decisions about the future of the business.

Through his peers on the course and his Help to Grow: Management mentor, Richard found a space to discuss his business in a meaningful way. “Talking about your challenges, engaging your brain and considering how others approach problems is good for anybody. You realise your business is not unique and that your peers are facing similar challenges. Because of the conversations we had, we were able to apply the theoretical frameworks discussed on the course.”

Applying some of the course theory and after discussions with his mentor, RDT Architects decided to change how the company was structured. “We made promotions to four senior management team to create a board of directors, giving them greater control and opportunities for their own development.

“This will allow us to begin to take a step back in a structured way.”

With the newly found board of directors, Richard and the management team looked at the “Mission, Vision, and Values” section of the course.

“Internally, we now have regular presentations that let all staff know where the business has been, what we’re doing, and what we see for the future.

"The presentations are a conscious part of making sure we share the same mission, vision and values."

Richard also wanted to refine how RDT Architects was seen externally, “We have updated our website and developed our organisational brand to acknowledge our values of family, collaboration, quality and consistency, with a positive working environment, and of course, that we’re very good at what we do.”

That external focus is also reflected in sales. “Previously we would respond to inbound enquiries about fees with an email. Now we have a more structured sales process in place. We talk to our potential clients to fully understand their requirements from the start to enable the team to know exactly where they are in terms of the pitch.”

During the course, Richard developed a Growth Action Plan that mapped out the future goals of the business. This includes a strategy for his own exit after twelve financial quarters. With the help of a business coach, he has developed a business playbook that details the goals and targets of the business, incorporating the theoretical frameworks he learnt to use in the course. This provides visibility of the KPIs the business is now tracking and enables him to more confidently spend the time working on the business.

With these internal changes in place, Richard and Cheten looked to external acquisition for the business growth.

“When I joined the course if you told me ‘You’ll be buying another architectural business in 18 months’, I’d have said you were off your rocker.

“Looking back to the start of the course I couldn’t imagine the process or the journey, We had identified the opportunity to work on residential properties and through the acquisition of Boast Architects, we can now demonstrate over 28 years of experience in this field to win smaller but more frequent projects which ultimately will spread the risk of the business.”

On the back of the Help to Grow: Management Course and subsequent acquisition, RDT Architects has significantly increased its turnover, has firm growth targets, and importantly is working towards Richard’s and Cheten’s exit strategy. 

“The Help to Grow: Management Course was essential for our acquisition and growth. You get quality time to consider the theoretical and academic side of running a business There may be things you think won’t work in your business. However, that’s an important part of developing your vision of the business and making fundamental decisions.”

“I can’t believe how far we’ve come since taking the course, it’s well worth carving out the time for it and working on your business.”

You can find out more about the Help to Grow: Management Course here.