Retail Goods and Services - Branded Apparel
Cultivate Advisors Helps Pro-Am Team Sports Overcome Challenges to Achieve Sustainable Growth in Branded Apparel
Cultivate Advisors Impact
Mary Dolan opened Pro-Am Team Sports to create branded apparel that their customers wear with pride. Through her work with her advisor, she was able to grow and scale her business and her team.
Cultivate Advisors partnered with Mary to:
- Increase Revenue: The company achieved roughly 10% annual revenue growth since 2020.
- Grow Profitability: Pro-Am Team Sports transitioned from a challenging financial position to profitability, having been profitable in 2021, 2022, and 2023.
- Inventory Management: The company achieved more reliable physical inventory management, bringing them closer to their goal of efficient and accurate inventory control.
Cultivate Advisors Impact
Challenge
In 2020, Mary Dolan was struggling with several key challenges in her business:
- Creating a Growth Plan: The company needed to develop a specific plan for scaling and growing its business, focusing on revenue targets and opportunities.
- Building a Leadership Team: They needed to establish a leadership team capable of supporting and facilitating the company's growth and scaling ambitions.
- Problem Solving and Documentation: Pro-Am Team Sports was struggling to replicate results.
Solution
When Mary met her advisor at an NAWBO event, she knew that this could be the answer to her challenges.
Together, Mary and her advisor created a plan and started implementing the following solutions to address these initial challenges:
- Financial Planning: The company created a budget based on real data and identified targeted opportunities. This better understanding of their financials allowed them to navigate the business more effectively, including managing cash flow and profitability.
- Workflow Software: Pro-Am Team Sports adopted workflow software, which enhanced transparency and efficiency in their operations. This improved workflow facilitated scaling as the business grew and increased the team's confidence.
- Leadership Development: The company worked on leadership development, using situational leadership approaches and in setting a clear vision and direction for the company. They implemented one-on-ones, leadership meetings and regular communication to all staff such as weekly updates and lunches to foster a better sense of teamwork and shared vision.
Outcomes
Pro-Am Team Sports successfully addressed the challenges of growth planning, leadership development, and problem-solving. Since 2020, Mary has sustained revenue growth, profitability, and improved inventory management. She is continuing to work with her advisor to grow her business and achieve higher levels of success.
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