My Money Is on Management
Geoffrey Moskowitz, Founder & CEO, Tip-Top Industrial Solutions
I'm the kind of person who always wants to grow bigger and faster. Organically, we’ve grown consistently at over 15% annually (on average) for many years. My aggressive approach has been consistently tempered by the realistic limitations in effectively managing this growth.
The challenge has been in realistically assessing my capabilities and adjusting them correctly in anticipation of targeted growth. Early on, I developed a management system that quickly removed me from too many processes relied solely on me. When your turnover in this business is 100,000 euros per month, you can get by on a one-man show making most decisions, but when it reaches 500,000 euros you need a strong team of leaders to lead and support the company reliably.
For many years, my management team successfully supported 500,000 euros turnover and more. We developed new clients, new services, and our own management techniques. Currently, the company has reached a level of over 1.5 million euros per month. It's especially impressive considering that we are growing and developing amidst instability, where external circumstances constantly present challenges, testing our resilience. Over the past 20 years I have certainly experienced a lot to make me more patient and resilient in the face of change.
But we aim to continue our growth and we have not been able to get past 1.5 million euros per month without great difficulty. My existing management team has come face-to-face with its own limits, much as I did years ago at 500,000 euros turnover. My conclusion has been to develop additional leadership, skills and strategy that can bring us to the next level.
As a result, I have been working on supporting my senior group of directors to develop a second developing group of leaders. We aim to complete this effort for the most part in 2023. Developing a multi-tiered management team, of course, is very complicated and constantly ongoing! But effective management is crucial, with strong specialists heading each department and qualified deputies supporting the leaders. Every component of the company's structure, including HR, Finance, Sales and Operations, needs to be strong. So, we have been investing in the development of key personnel in each department of the company. If we notice any department falling behind, we work purposefully to strengthen it.
Along with developing our mid-level managers, we are highly focused on developing departmental strategies. I want all strategies to be clearly defined, allowing employees to understand them and see new growth opportunities. Collaborative work between departments, particularly operations and sales, is important to me so that they can reinforce each other and generate internal synergies. I am confident that we are moving in the right direction, and I already see our mid-level management taking shape.
Clearly, as this additional support begins to take shape, we will be able to break through this current limitation of 1.5 million. My expectation is that this management structure can take us to 10 million euros per month and higher. And when we see new stress on the organization… it will be back to the drawing board!
Geoffrey Moskowitz, Founder & CEO, Tip-Top Industrial Solutions
I'm the kind of person who always wants to grow bigger and faster. Organically, we’ve grown consistently at over 15% annually (on average) for many years. My aggressive approach has been consistently tempered by the realistic limitations in effectively managing this growth.
The challenge has been in realistically assessing my capabilities and adjusting them correctly in anticipation of targeted growth. Early on, I developed a management system that quickly removed me from too many processes relied solely on me. When your turnover in this business is 100,000 euros per month, you can get by on a one-man show making most decisions, but when it reaches 500,000 euros you need a strong team of leaders to lead and support the company reliably.
For many years, my management team successfully supported 500,000 euros turnover and more. We developed new clients, new services, and our own management techniques. Currently, the company has reached a level of over 1.5 million euros per month. It's especially impressive considering that we are growing and developing amidst instability, where external circumstances constantly present challenges, testing our resilience. Over the past 20 years I have certainly experienced a lot to make me more patient and resilient in the face of change.
But we aim to continue our growth and we have not been able to get past 1.5 million euros per month without great difficulty. My existing management team has come face-to-face with its own limits, much as I did years ago at 500,000 euros turnover. My conclusion has been to develop additional leadership, skills and strategy that can bring us to the next level.
As a result, I have been working on supporting my senior group of directors to develop a second developing group of leaders. We aim to complete this effort for the most part in 2023. Developing a multi-tiered management team, of course, is very complicated and constantly ongoing! But effective management is crucial, with strong specialists heading each department and qualified deputies supporting the leaders. Every component of the company's structure, including HR, Finance, Sales and Operations, needs to be strong. So, we have been investing in the development of key personnel in each department of the company. If we notice any department falling behind, we work purposefully to strengthen it.
Along with developing our mid-level managers, we are highly focused on developing departmental strategies. I want all strategies to be clearly defined, allowing employees to understand them and see new growth opportunities. Collaborative work between departments, particularly operations and sales, is important to me so that they can reinforce each other and generate internal synergies. I am confident that we are moving in the right direction, and I already see our mid-level management taking shape.
Clearly, as this additional support begins to take shape, we will be able to break through this current limitation of 1.5 million. My expectation is that this management structure can take us to 10 million euros per month and higher. And when we see new stress on the organization… it will be back to the drawing board!
