Red Circle Inc. is a Chicago-based recruiting firm that helps IT companies grow their teams.
Learn how Michael Melendrez grew Red Circle Technology with Cultivate Advisors
About Red Circle Technology
Red Circle Technology Case Study
Cultivate Advisors Impact
In 2001 Michael Melendrez started Red Circle Technology to help tech companies connect with the right team. Through his work with his advisor, he was able to grow and scale his own team and achieve many personal goals.
Cultivate Advisors partnered with Mike to
- Set achievable goals to increase revenue
- Hire and train new team members to own key processes
- Refined services, increase pricing, and create a monthly retainer with clients to increase revenue
Revenue in 4 Years
Recharged Revenue From 5 Year Flat
Achieved 5-year Personal Goal in 18 Months
3X revenue since we started together. On only 1.9X volume of deals. I know that math doesn’t sound right, but that is what Cultivate Advisors does. They get into every part of your business. It isn’t just about top-line revenue or simply profit. They get into every part of your business and find places that we can make better. A perfect example is that in our last session we said “We can finally get to sales!” AFTER FOUR YEARS. After all of our success, it really does seem that we are just getting started.
Red Circle Technology
In 2017, Mike Melendrez just celebrated 16 years in business. And while the business was successful, it was still a long way from achieving Mike’s vision. They wanted to move faster and, struggled to scale with their current model. At the time, Mike struggled with having a solid structure for his team. He was setting high goals without a proper plan to achieve those goals, making scaling difficult.
When Mike met with his advisor, they sat down to develop a custom plan. Using his business expertise, and understanding of the recruiting industry, Mike’s advisor was able to part with him and take into account Mike’s unique business model and personal goals to build a roadmap. Mike wanted to scale. Mike and his advisor worked together on a play to get 2 new searches and fill 2 new searches every month. Developed a cadence that allowed his team to get into a rhythm. Next, they tackled his financials. They worked together to standardize pricing and structuring a hybrid compensation model that put clients on a monthly retainer. This allowed Mike to recharge revenue growth from 5 years flat. Currently, they’re working on sales. Because of Red Circle’s unique business model, they only need a handful of clients. So Mike and his advisor word together to create a sales strategy that worked to Mike’s strengths and allowed him to continue to develop his large network within the Chicago tech community.
With a system in place, Mike has created more stability in his team from a leadership and recruiting standpoint. He has been able to 3x revenue, and achieve multiple personal goals including buying a family home in Chicago (a 5-year goal he was able to accomplish in 18 months).
- Built an organizational structure and 5-year business plan
- Create turn-key systems and processes to increase efficiency
- Build a plan for recruiting, hiring, and training top talent
- Refine services and create business packages to increase revenue
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