Tyoe of business: Services
Service company has $2m in revenues, is profitable, but is reliant on one customer for 100% of their sales. Business will shut down if they do not renew 2 yearly contract
How we Fixed It
We got the owner out of operations, to focus on business development and build the operations team to put the real focus on customer service
Two years later revenues have doubled and existing customer is now 50% of total revenue, reducing the risk to the business if the two year contract is not reviewed. Excellent customer service and partnership relationships is a barrier to customers not renewing contracts.