GIVE YOUR FAMLY THE GIFT OF FINANCIAL SECURITY

Cody was the third-generation owner of a respected oil field equipment company. For over 100 years, his family business had provided for his family and grown steadily. But Cody saw the world around him changing. Regulations, economic shifts, and cultural resistance to his products created challenges he couldn't ignore.

To secure the future of his company, Cody knew he had to adapt. Years earlier, Cody and his Advisor Team started preparing for this moment. They focused on four key priorities to position the business for long-term success:

1. Building a next-level management team centered on growth
2. Differentiating products based on customer success stories
3. Enhancing sales training
4. Implementing strong incentive plans

Their ultimate goals were to grow the business, ensure Cody could exit with financial security, and sustain the company despite shifting sentiments about its core offerings.

Harnessing Expertise to Evolve

The first and most crucial step Cody took was assembling a strong next-level management team. This included external experts, and internal employees he had trained to lead the business forward.

Cody’s expertise was in oil field equipment. He recognized that while demand for his products remained steady, he needed to address concerns about their environmental impact. Cody had already invested in making his equipment as safe and clean as possible. But to grow further, he brought in experts who understood the emerging clean energy sector—an area outside his comfort zone.

By combining the fresh perspectives of the experts with the trusted relationships his internal team had cultivated, Cody successfully launched a clean energy division alongside his core business. This diversification not only appealed to environmentally conscious clients but also expanded his customer base.

Clients who might have hesitated to engage with his traditional offerings now had new reasons to partner with his company.

This next-level management team also helped reduce reliance on a few large customers. A broader, more diversified customer base made the company more attractive to potential buyers, as they wouldn’t have to tackle this challenge after an acquisition.

The Broader Impact

These experts strengthened Cody's oil field equipment business while positioning the clean energy arm as a key growth area. By listening to customer feedback, refining sales strategies, and implementing effective incentive plans, Cody ensured his company could meet changing demands while staying true to its legacy.

In the face of evolving challenges, Cody’s proactive approach and commitment to make his company resilient - by focusing on priority value drivers - allowed him to protect his business and employees, secure his and his family's financial future, and adapt for the next generation. His story is a testament to the power of planning, preparation and adaptability in a shifting world.