Learn how Michael Melendrez grew Red Circle Technology with Cultivate Advisors

About Red Circle Technology

Red Circle Technology Case Study

Red Circle Technology Case Study

Red Circle Inc. is a Chicago-based recruiting firm that helps IT companies grow their teams.

Industry:B2B Recruiting
Company size:5
Skill focus:Financials, Recruiting, Sales
Year Founded:2001

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
Cultivate Advisors Impact
Impact

Results

3x

Revenue in 4 Years

5

Recharged Revenue From 5 Year Flat

5

Achieved 5-year Personal Goal in 18 Months

Michael Melendrez

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.

Michael Melendrez

Red Circle Technology

Challenge Solution Outcomes

Challenge

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.

Solution

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.

Outcomes

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).

How We’ve Helped Other Businesses

Real Estate

Center Coast Realty

Mike McElroy

  • 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
Watch full story

Law Firm

Kogut & Wilson

Eva Kogut

  • Develop leadership skills and best practices
  • Identify, track and measure KPIs
  • Build a plan for recruiting, hiring, and training top talent
Watch full story

Hospitality

Food Tour Pros

Shane Kost

  • Build and develop his executive team
  • Convert operation from owner-operator to scaled
  • Recruit, hire, and train 15 new employees
  • Implemented new products and services
Watch full story

Software Implementation

The WFC Group

Neil Shah

  • Hire a sales team and develop a sales engine
  • Improve customer retention
  • Create alignment and transparency in the business
Watch full story
Cta 1
Cta 2

What Are You Waiting For?

Before we can help you grow, we need to understand your business. Set up a quick call to learn more about joining our community.

Take a Free Assessment