Category: Uncategorized

The hospitality industry has operational and strategic challenges that require a special breed of leader. From the pressing need to adapt and thrive in the digital marketplace to the critical requirement of streamlining operations for scalability and efficiency, success doesn’t come easy.

These challenges are compounded by the industry’s rapid pace of change and ever-evolving consumer preferences, not to mention razor-thin margins. As companies seek to expand their reach, enter new markets and prepare for significant milestones like IPOs, the demand for specialized expertise and interim leadership becomes even more apparent.

The transition to e-commerce, the professionalization of finance functions and the strategic expansion into new business channels represent just a few of the multifaceted challenges that food and beverage companies face.

Addressing them head-on, with the support of expert solutions and strategic partnerships, can transform potential roadblocks into opportunities. Let’s explore how these challenges can be effectively managed and how the right external support can turn businesses around and increase their value.

READ MORE: Why Hire an Interim CEO?

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Navigating e-commerce, Digital Strategy Transitions

The shift toward e-commerce is critical for food and beverage companies that have been slower to adapt to technological advances. Interim e-comm leaders play a pivotal role in establishing robust e-commerce organizations, revising digital strategies to better align with evolving customer insights and making informed decisions on platform and vendor selection.

This is crucial for enhancing online presence and driving customer engagement in a highly competitive digital marketplace.

Filling Strategic, Operational Leadership Gaps

The industry’s rapid evolution often leads to gaps in strategic and operational leadership, particularly in pre-revenue or rapidly pivoting companies. Interim CFOs and CEOs with deep operational and commercial experience are vital for steering companies through these transitions.

READ MORE: Why Hire a Temporary CFO?

They oversee day-to-day operations, set strategic directions and drive expansions into new business channels, ensuring companies remain agile and growth-focused.

Professionalizing Finance Functions for Growth, IPO Readiness

Preparing for significant growth phases or public listing necessitates a professionalized finance function. Senior finance professionals are instrumental in implementing back-office systems, enhancing reporting capabilities and ensuring IPO readiness.

Their expertise ensures that companies are well-prepared for audit activities and public scrutiny, laying a solid foundation for future growth.

Operational Leadership in Co-Manufacturing, Supply Chain

Effective management of co-manufacturing and supply chain operations is crucial, especially for companies that outsource manufacturing. Interim operational leaders bring leadership, elevated professionalism and strategic oversight to these areas.

They ensure that operational teams are aligned with the company’s strategic goals, optimizing efficiency and productivity across the supply chain.

Enhancing Finance Department Capabilities with Outsourced Solutions

Outsourced finance and consulting firms offer valuable support in bolstering the finance departments of hospitality companies. By assisting with financial reporting, KPIs and staffing needs, these firms address the challenges faced by companies, especially those navigating seasonal business fluctuations.

This external expertise enhances the finance department’s capabilities, ensuring accurate and timely financial management.

READ MORE: Interim CFOs for a Financial Crisis

HR Transition, Strategy During Critical Phases

During significant transitions or the establishment of new platform companies, the need for interim CHROs becomes apparent. These professionals ensure smooth HR processes, support carve-out activities and act as strategic HR partners to the CEO.

Their involvement is crucial for navigating HR transitions effectively, ensuring that the company’s talent strategy aligns with its broader operational goals.

READ MORE: How To Hire the Right Interim CHRO

Implementing Systems, Processes for Operational Efficiency

The implementation of PE-grade back-office, information and reporting systems is a critical step for companies aiming to upgrade their financial operations.

Fractional CFOs experienced in the food & beverage sector lead these initiatives, enhancing operational efficiency and financial transparency. Their efforts streamline financial operations, setting the foundation for sustainable growth and operational excellence.

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The Business Builders’ Network is full of pre-vetted resources who are ready to help your food and beverage company connect with a game-changing interim executive.

Our research and operations team already knows who you need before you contact us, and is prepared to connect you with a short list of industry-specific options.

Partnering with BluWave can not only gives you more confidence in your temporary leadership, but we can help you get started within a single business day. Set up your scoping call today, and we’ll provide a short list of situation-specific candidates.

From ensuring the effectiveness of customer success and implementation processes to modernizing the professional services organization, optimizing operations for technology-software businesses can be challenging.

As these businesses scale, the need to streamline operations becomes crucial for maintaining efficiency. For those about to go public, organizational design for IPO readiness requires careful planning and execution.

The challenges, while diverse, share a common thread: the need for specialized expertise to drive performance improvement and excellence. At BluWave, we’re increasingly seeing demand from software companies – whether private or public – as well as for private equity-owned portfolio companies for external experts and service providers who can offer tailored solutions and strategic insights.

Whether it’s restructuring customer success operations to improve retention rates, leveraging technological advancements to modernize service delivery, or preparing the organizational structure for a successful IPO, the right partnerships can make a significant difference.

Enhancing Customer Success and Implementation Processes

Software companies have their work cut out for them when it comes to customer success and implementation processes, with issues leading to poor customer retention and operational disarray.

The complexity of SaaS implementations often requires a strategic overhaul for organizations that haven’t kept a close eye on internal processes.

Outside experts can help with this by providing evaluations and strategies focusing on people, processes and technology, ensuring organizations are primed for success.

READ MORE: Demand Gen Resources for Software Organizations

Modernizing Professional Services Organizations

As software companies experience rapid growth, there’s a pressing need to modernize professional services organizations. This includes developing professional service P&Ls and redesigning forecasting and pricing models.

External experts can offer tailored advice and best practices, helping businesses align their operations with industry benchmarks.

Benchmarking R&D Spend

Software companies seek insights into R&D spending for mature companies and operational benchmarking to enhance their operations playbook.

Consulting firms with deep knowledge of R&D organizations offer benchmarking against industry standards to identify areas for improvement and competitive advantage.

Conducting Functional Maturity Assessments

Assessing the functional maturity of professional services and support functions is critical for identifying inefficiencies and areas for improvement.

Independent consultants can conduct thorough assessments, offering roadmaps for improvement aligned with industry best practices.

Validating Technology Strategy

Companies are looking to validate their current and future technology strategies to identify potential opportunities and ensure alignment with industry standards.

Experts evaluate technology organizations and stacks, comparing them to competitors and industry standards.

Implementing OKR Frameworks

Quickly scaling software companies face the challenge of implementing effective Objectives and Key Results (OKRs) frameworks.

Experienced consultants can share best practices in creating OKRs, tailoring strategies to the unique challenges of scaling businesses in the B2B and B2C tech sector.

Streamlining PayFac Operations

For software companies involved in payments, making PayFac operations more efficient and scalable is a significant challenge.

Former payments operators can provide valuable insights into streamlining operations, advising on strategic decisions that impact efficiency and scalability.

READ MORE: How To Select an ERP System for Software Organizations

Optimizing Organizational Design for IPO Readiness

Software companies on the pre-IPO path explore how to optimize their organizational structure to support a successful IPO journey.

Strategic org design consulting can help these companies assess and optimize their organizational structure for IPO readiness.

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Our research and operations team already knows who you need before you contact us, and is prepared to connect you with a short list of industry-specific options.

The Business Builders’ Network is full of pre-vetted resources who know what it takes to optimize operations for software companies.

BluWave’s network can give you more confidence in your ops strategy, and we’ll connect you with the best resources within a single business day. Set up your scoping call today, and we’ll provide a short list of situation-specific resources who can help your business.

Whether it’s breaking through the noise to capture the attention of potential customers, carving out a distinct brand identity post-merger, generating high-quality leads in niche markets or scaling eCommerce operations, digital marketing demand generation offers many challenges.

These are exacerbated by the new platforms and technologies that seemingly multiply every month.

To overcome these barriers, companies are increasingly turning to specialized services in digital marketing, branding, lead generation and eCommerce. Each of these areas, critical to a company’s growth and market presence, requires a nuanced approach tailored to the unique needs and challenges of the business.

Addressing these challenges requires more than just internal resources; it demands the strategic insights and expertise of external partners who specialize in these critical areas.

BluWave’s Most-Demanded Digital Marketing Demand Gen Services

Companies are in a race to generate quality leads effectively, especially in specialized markets where traditional approaches may fall short.

Branding is also a common challenge, especially right after an acquisition has been made and businesses face the daunting task of unifying multiple brands under a single cohesive identity.

Lead generation is another area where we receive a lot of requests for third-party help. Business leaders don’t just want to attract attention but also convert interest into tangible outcomes.

Finally, as eCommerce shops continue to gain popularity over brick and mortar stores, companies need innovative strategies to optimize their online sales channels, from enhancing platform functionality to navigating the intricacies of marketplace transactions.

Here’s a little more about these most-requested services and the problems they can help you solve, along with PE-grade, pre-vetted resources that will come alongside your team to execute.

READ MORE: Digital Marketing Demand Gen Challanges in Consumer Products Industry

Digital Marketing Services

In digital marketing, businesses face challenges in reaching niche markets and optimizing strategies for better lead generation and ROI.

Leveraging external experts, such as fractional marketing consultants and strategic consulting firms, can provide tailored strategies and insights for niche markets, website alignment and digital media optimization.

These partnerships offer valuable support in improving digital marketing effectiveness, transforming challenges into growth opportunities.

LEARN MORE: Sales & Marketing Effectiveness Resources

Branding Services

Whether launching a new company or giving an existing one a perception makeover, a comprehensive rebrand is important to create a cohesive identity. This is especially true after mergers and acquisitions.

READ MORE: Why Mergers & Acquisitions Fail

This process involves not only the visual aspects, such as logos and websites but also strategic PR considerations to effectively communicate an organization’s story.

Specialized marketing, branding and PR firms with experience in your specific industry can offer the expertise needed to crush a rebranding, no matter how complex.

Whether developing a new corporate identity, sub-branding for product offerings or crafting PR strategies that minimize customer disruption while maximizing brand impact, the right expert can make this a much smoother process.

Lead Generation Services

Building robust marketing and lead generation capabilities is a common challenge for companies with strong growth ambitions. This is particularly pronounced for businesses seeking to improve lead quality at the top of the sales funnel.

A holistic approach to strategic marketing, encompassing both digital and traditional methods, can significantly enhance lead generation efforts.

Comprehensive marketing consultancy services can provide market segmentation, buyer journey mapping and voice of customer work to refine messaging, allocate marketing spend effectively and drive increased awareness and customer acquisition.

READ MORE: Voice of the Customer KPIs

eCommerce Services

For companies looking to enhance their eCommerce capabilities, especially on platforms like Amazon FBA marketplace, expert third parties can save your business a lot of headaches.

They provide proven eCommerce strategies focused on B2B or B2C products and services, regardless of your industry. Additionally, experts skilled in eCommerce transactions can facilitate account transfers, mitigating risks such as loss of goodwill and product placement status or advising on the nuances of asset vs. stock deals.

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From fractional marketing consultants who can tailor digital strategies to niche markets, to branding experts who execute post-merger identity formation to eCommerce strategists who unlock new avenues for online growth, the right partnerships can transform obstacles into launchpads.

The Business Builders’ Network is full of pre-vetted resources who are ready to help your company master digital marketing demand generation.

Our research and operations team already knows who you need before you contact us, and is prepared to connect you with a short list of industry-specific options.

Partnering with BluWave can not only gives you more confidence in your overall marketing strategy, but we can help you get started within a single business day. Set up your scoping call today, and we’ll provide a short list of situation-specific resources.

Consumer products companies need innovative strategies to drive growth, expand their market presence and stay ahead of the competition.

They might do this by breaking into new markets with a compelling go-to-market strategy, expanding product lines to captivate new segments or launching private labels in the competitive beauty and haircare space. But each step toward growth requires a deep understanding of market dynamics, consumer behavior and the competitive landscape.

READ MORE: Digital Marketing Demand Gen in Consumer Products Sector

The journey to successful market expansion and product line diversification is fraught with challenges that are better faced with specialized knowledge and strategic insight. From crafting go-to-market strategies that resonate with key influencers to conducting specialized market research for niche opportunities, consumer products companies must make informed decisions that align with their growth objectives and market realities.

Recognizing these challenges, many consumer products companies are turning to external experts and service providers to bridge the gap between ambition and achievement. These partnerships offer access to industry-specific expertise, advanced analytics and consumer insights, enabling companies to tailor their strategies for maximum impact.

Let’s talk about the specifics of these challenges, how expert third parties help businesses overcome them and how you can connect with one of these resources.

Crafting Effective Go-to-Market Strategies

One of the biggest hurdles for consumer products companies is developing go-to-market strategies that effectively engage key market influencers. Whether it’s home products companies needing to connect with designers or beauty brands aiming to influence salon professionals, identifying the right channels, messaging and value propositions is crucial.

Leveraging insights from specialized market research can illuminate the path to creating strategies that resonate deeply with target audiences, ensuring that products not only reach the showroom floor but also capture the imagination of the end consumer.

READ MORE: Org Chart Planning To Align with Growth Strategy

How Market Dynamics Affect Product-Line Expansion

Expanding product lines, such as venturing into collectible coins or exploring new beauty and haircare categories, requires a nuanced understanding of market dynamics.

Companies must navigate distributor vs. wholesaler relationships, margin expectations and a fierce competitive landscape. Here, external experts with deep industry knowledge can provide invaluable guidance, offering market feasibility studies and strategic planning services to ensure new product lines are well-positioned for success.

Specialized Market Research

For companies venturing into niche markets or seeking to validate new concepts, specialized market research is indispensable.

This research must be tailored to specific end-markets and applications to provide actionable insights. Service providers with expertise in unique market segments can conduct in-depth analysis, utilizing advanced analytics and consumer insights to inform strategic decisions, ensuring companies can capitalize on niche opportunities with confidence.

READ MORE: Voice of the Customer Process, Methodologies

Launching Private Label Lines

Launching private label lines in the beauty and haircare market demands comprehensive market analysis and strategic planning. Understanding the landscape, key users, growth trajectory and regulatory considerations is essential.

Forming strategic partnerships with service providers can streamline the process, offering a roadmap for market entry that encompasses product development, regulatory compliance and effective branding strategies.

Formulating Market Strategy, Analysis for OTC Products

For OTC and consumer healthcare companies, understanding market size, growth and competitor share by product format is critical. Analyzing data from sources like IRI and conducting product format-specific analysis can inform growth prioritization and strategy.

This is where the expertise of external consultants can be particularly beneficial, helping companies to cut through the data and build out a strategy that prioritizes growth based on the best available information.

Differentiating Brand Positioning, GTM Strategy

In the crowded consumer and F&B space, refining brand positioning and developing effective go-to-market strategies are paramount. Assessing customer perceptions and conducting VoC research are key steps in ensuring each brand is optimally positioned in the market.

External experts can offer fresh perspectives and data-driven insights, helping companies to differentiate their brands and tailor their GTM strategies for maximum impact.

Expanding eCommerce Business Across Borders

The challenge of expanding an eCommerce business from one country to another, such as from Canada to the US, involves overcoming logistical, regulatory and market adaptation challenges.

Collaborating with service providers who have navigated these waters before can provide a blueprint for success, offering strategies that consider tariffs, freight considerations and the nuances of cross-border eCommerce.

READ MORE: Growth & GTM Strategy Resources

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Our research and operations team knows who you need before you contact us, and is prepared to connect you with a short list of industry-specific options.

The Business Builders’ Network is full of pre-vetted resources who know what it takes to grow consumer products companies.

BluWave’s network can give you more confidence in your growth strategy, and we’ll connect you with the best resources within a single business day. Set up your scoping call today, and we’ll provide a short list of situation-specific resources who can help your business reach its next stage of growth.

The transition from generating leads, particularly through digital marketing, to closing sales is challenging in any industry.

They’re compounded for manufacturing businesses, though, by the complexity of products and the necessity of a nuanced understanding of customer needs. The journey from lead to conversion is not just about selling a product; it’s about effectively communicating value while being able to close high-value transactions.

This requires tailored, case-by-case approaches to sales leadership, team management and training. It also means leveraging CRMs – like Salesforce – and sales data analytics to improve conversion rates.

Third-party consultants who have a proven track record often make this process much easier, accelerating value creation for businesses. At BluWave, we equip manufacturing companies with the tools and strategies needed to enhance sales effectiveness and training.

Let’s talk more about these challenges and how our invite-only network of experts can come alongside your business to help.

Transitioning from Digital Marketing to Sales

The manufacturing industry often excels in generating leads through digital marketing but may struggle with effectively nurturing and converting these leads into sales. The gap between initial and final purchase decision requires a nuanced, strategic approach.

Expert third-party consultants can offer tailored strategies that bridge this gap, focusing on the development of a seamless transition process from digital leads to inside sales conversions. By implementing best practices for lead follow-up and nurturing, companies can significantly improve their conversion rates, ensuring that the potential of digital marketing efforts is fully realized.

Sales Leadership and Team Management in Manufacturing

The unique selling environment of the manufacturing sector necessitates experienced sales leadership to face the complexities of B2B sales and managing teams to effectively sell high-value products.

Bringing on fresh sales leadership and team management can provide targeted consulting to develop the skills of your sales team.

These experts provide industry-specific knowledge and strategies for optimizing performance, focusing on metrics-driven management and the development of a cohesive, effective sales team.

READ MORE: Manufacturing Industry Growth Strategies

Customized Sales Training for Manufacturing Products

Standard sales training programs often fall short in addressing the specific needs of manufacturing sales teams. The diversity of manufacturing products demands training programs that are not only comprehensive but also customized to the product range and target customer base.

We see demand for products relating to glass, construction, aluminum, steel, copper and many other sector-specific products.

Expert third-party providers can develop and implement customized sales training programs that cover product knowledge, sales techniques and customer engagement strategies tailored to the manufacturing industry. This ensures that sales teams are equipped with the knowledge and skills needed to effectively sell complex products.

Leveraging CRM and Sales Data for Manufacturing Sales

Manufacturing companies frequently underutilize CRM systems and sales data, missing out on opportunities to optimize their sales strategies. Outside consultants can offer guidance on effectively capturing and analyzing sales data, utilizing CRM tools to their full potential.

By training sales teams on the strategic use of sales data for decision-making and strategy adjustments, companies can enhance their sales effectiveness, identifying opportunities for improvement and refining their sales approaches based on data-driven insights.

READ MORE: Maximizing Customer Retention: Building Long-Term Relationships

Strategic Sales Strategy Overhaul for Market Alignment

For manufacturing companies seeking to realign their sales strategies with current market demands, a strategic overhaul may be necessary. Expert solutions can assist in developing an omnichannel sales strategy that balances direct sales, ecommerce and other channels.

These strategies are designed to reach the diverse customer base typical in the manufacturing industry, ensuring that sales efforts are aligned with market trends and customer preferences.

CASE STUDY: Interim CEO for Manufacturing Company Seeking Permanent Leader

Organizing Sales Training Infrastructure for Diverse Products

The absence of a structured sales training infrastructure poses a significant challenge in the manufacturing sector. This can be addressed with training programs that accommodate the breadth of products and sales scenarios typical in manufacturing.

By creating a comprehensive training infrastructure, companies can ensure that their sales teams are well-prepared to address the diverse needs of their customers, enhancing overall sales performance and productivity.

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Whether you’re a PE firm supporting a portco in the manufacturing industry, or you’re a private or public company looking for sector-specific resources, the Business Builders’ Network is at your disposal.

Our research and operations team knows who you need before you contact us, and is prepared to connect you with a short list of industry-specific options.

READ MORE: Procurement, Sourcing Resources for Manufacturing Industry

Partnering with BluWave can not only gives you more confidence, but we can help you get started within a single business day. Set up your scoping call today, and we’ll provide a short list of situation-specific resources who can help your business reach its next stage of growth.

Healthcare services organizations face a wide array of regulatory complexities. From laws that vary by location to patient privacy to fierce competition, the challenges are endless. For many, a growth strategy may not even seem like an option – they’re just trying to survive.

With the right resources and a practical plan, though, these hurdles can be overcome.

BluWave’s Business Builders’ Network already knows the pre-vetted, high-value third parties that can help with these industry-specific challenges. These experts bring a wealth of knowledge and experience, providing tailored solutions for healthcare services businesses.

Let’s take a deeper look at the many variables healthcare services companies face along with the importance of strategic planning, market research and regulatory knowledge.

Challenges in Growth for Healthcare Businesses

Navigating State Expansion in Healthcare Services 

The decision to expand healthcare services into new states is one way to grow market size. If only it were as simple as opening new locations.

Each state (or region) presents a unique regulatory environment, payer landscape and reimbursement rate structure that can significantly impact the feasibility and profitability of expansion efforts.

Expert third-party consultants, with their deep understanding of these nuances, can provide invaluable guidance. They help healthcare organizations evaluate potential markets, navigate state licensing requirements and understand the intricacies of payer dynamics.

“The specialized growth strategy resources in the BluWave network understand the nuances of the healthcare industry as well as those of specialty practice areas,” says Keenan Kolinsky, BluWave co-head of Research and Operations. “They can help businesses grow while complying with challenging regulatory environments that can vary by market.”

This strategic insight ensures organizations can make informed decisions, mitigating risks and maximizing growth opportunities.

READ MORE: A Look Inside the Industry with a Healthcare Expert

Strategic and Operational Planning for Healthcare Growth 

Healthcare organizations, particularly those specializing in areas such as substance abuse and detox, face the dual challenge of navigating a highly regulated environment and positioning themselves for growth or sale.

Strategic and operational planning is crucial in this context. Experienced third-party experts know how to navigate corporate governance and market positioning while understanding the buyer universe.

Their strategic advisory services can help healthcare organizations develop a clear roadmap for growth, identifying key opportunities and challenges, and formulating strategies to address them effectively.

Market Analysis for New Healthcare Operating Markets 

Entering new healthcare markets, such as women’s health or specialized care services, requires a comprehensive understanding of commercial insurance trends, competitive market dynamics and state policy outlooks.

Working with someone who has done this before can be a significant advantage. These groups conduct thorough market analyses, offering insights into the payor landscape, provider supply and population demographics.

This also helps healthcare organizations assess the viability of new markets, understand competitive pressures and develop tailored strategies for successful market entry.

READ MORE: Healthcare FP&A Resources

Market Research for Identifying Growth Opportunities 

For healthcare organizations looking to identify growth opportunities within their existing markets or penetrate adjacent ones, market research is indispensable.

Neutral third parties can evaluate the competitive landscape, assess market size and potential and identify untapped opportunities for your business.

This foundational research provides healthcare organizations with the data and insights needed to make strategic decisions about product development, market expansion and customer engagement strategies.

Developing Strategic Plans for Rapid Growth and M&A 

Rapid growth and mergers and acquisitions (M&A) are common strategies for healthcare organizations seeking to scale quickly.

But these tactics require careful planning and execution. Expert third-party consultants can assist in developing a 180-day plan post-M&A, focusing on integrating acquisitions, building necessary infrastructure and aligning strategic objectives.

Their guidance ensures that healthcare organizations can effectively manage the complexities of M&A activities, from due diligence to integration, fostering seamless transitions and sustained growth.

READ MORE: Digital Marketing Pain Points, Solutions for Healthcare

Formalizing Processes for New Healthcare Business Lines 

As healthcare organizations grow and evolve, formalizing processes for new business lines becomes critical. This involves financial modeling, business case development and strategic planning.

Third-party experts specializing in healthcare finance and strategy can provide the support needed to formalize these new initiatives. Their expertise ensures that new business lines are grounded in solid financial planning and strategic alignment, enhancing the organization’s ability to innovate and compete in the healthcare market.

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The Business Builders’ Network is full of pre-vetted resources who are ready to help your healthcare services company with its growth strategy.

Our research and operations team already knows who you need before you contact us, and is prepared to connect you with a short list of industry-specific options.

“Healthcare Services is one of the most in-demand industries we’ve served over the past 12 months,” Kolinsky says. “We have a deep bench of growth- and commercially-focused resources specializing in healthcare as well as resources with other functional capabilities needed to provide the infrastructure necessary to support sustainable growth.”

READ MORE: Senior Advisors for Healthcare Businesses

Partnering with BluWave can not only gives you more confidence in your growth strategy, but we can help you get started within a single business day. Set up your scoping call today, and we’ll provide a short list of situation-specific resources who can help your business reach its next stage of growth.

The technology-software industry is rife with unique challenges. Whether dealing with government software contracts or the ever-shifting nuances of e-commerce, it’s a fiercely competitive sector that demands industry-specific knowledge, strategic foresight and adaptability.

Experienced board members can provide invaluable insights for companies looking to grow and innovate. Connecting with the right ones, however, can be difficult. How do you choose from so many polished LinkedIn profiles, second-hand references and countless other variables?

This is why the expertise of third-party specialists in board recruitment can be such a big help. By leveraging their extensive networks and industry knowledge, they can match companies with board members who are not just leaders in their fields but also the right fit for strategic goals and culture.

Let’s discuss some of the specific challenges the software industry faces in board member recruitment, and how the right support can make the process much smoother – and faster.

ALSO READ: Board Members for Manufacturing Companies

How Board Members Help Software Companies

Government Sector Software Challenges

For software companies focused on government clients, the sales cycle and procurement process can be daunting. The intricacies of selling to local governments, with their lengthy decision-making timelines and specific procurement regulations, require a nuanced approach.

ALSO READ: Government Contract Outsourcing: Get Proposal Help

The challenge here is not just understanding these processes but mastering them to scale and grow effectively. Board members with a wealth of experience in government sector sales can be an invaluable resource.

They provide insights into complex cycles, tapping into their expertise to shorten sales timelines and streamline processes.

Third-party board recruitment experts give PE firms, their portfolio companies and private and public companies access to candidates who possess not just the necessary experience but also the strategic vision necessary.

Technological Transitions in E-commerce

The shift from more traditional systems to the rapidly evolving world of e-commerce can be a rude wakeup call for businesses that have failed to adapt.

While full of growth opportunities, transitioning legacy businesses also comes with challenges, including understanding new customer needs and adapting old systems to fast-paced demands.

Strategic guidance from board members who have navigated similar industry transitions can be a game-changer. They draw from their experience with key customers and industry trends to identify untapped markets and optimize operations to ensure your company remains at the forefront of innovation.

READ MORE: 5 Steps to an Effective VoC Strategy

Wealth Management Tech Space

Wealth management technology is extremely competitive. In a space where differentiation is difficult to come by, having the right strategy in place can be exactly what a business needs to get ahead and stay there.

Experienced executives who come on as board members know how to leverage these opportunities and increase enterprise value. A rich background in wealth management technology can offer the strategic guidance necessary to make informed decisions, drive growth and manage executive-level changes effectively.

READ MORE: How To Select an ERP System for Software Companies

A board member’s executive experience and industry networks can open doors to new opportunities and provide the strategic foresight needed to beat the competition. By engaging with a third-party expert in board recruitment, companies can ensure they are matched with board members who not only understand the industry’s complexities but are also equipped to guide the company toward achieving its strategic goals.

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The Business Builders’ Network is full of board members ready to step in and help your technology-software company reach its full potential.

Our research and operations team specializes in connecting you with the ideal candidates, as well as the recruiters who know them best.

Partnering with BluWave not only simplifies the process of hiring a board member but also does it within a single business day. Set up your scoping call today, and we’ll provide a short list of situation-specific resources who can help your business thrive.

READ MORE: Best Practices for Board Recruitment

The deeply personal nature of healthcare services, coupled with the growing demand for aesthetic treatments, presents unique challenges that demand a nuanced approach to marketing.

Traditional, one-size-fits-all strategies fall short when it comes to addressing patient concerns and ensuring privacy. Today, successful healthcare marketing strategies must be as personalized and considerate as the services they promote.

This is especially true in a sector where trust and reputation are not just important but are the very foundation upon which patient relationships are built.

Let’s talk about the specific challenges healthcare services businesses tend to face along with the resources available to overcome them.

READ MORE: Healthcare Compliance: Due Diligence Checklist

Healthcare Services Digital Marketing Challenges, Solutions

Challenge: Respecting Patient Privacy

Healthcare services, spanning from aesthetics to dental practices, demand a digital marketing approach that is both sensitive and strategic. The personal nature of these services means that marketing efforts must prioritize patient privacy while still engaging potential new customers and providers.

In an industry as competitive as healthcare, a robust online presence is not just beneficial – it’s essential. This involves a multifaceted strategy that leverages SEO, paid search and social media to not only reach but also resonate with the target audience.

Solution: Industry-Aware Digital Strategies

Addressing the unique challenges of healthcare marketing requires tailored strategies that respect privacy concerns and the regulatory environment. These strategies must focus on patient acquisition and retention, emphasizing trust and expertise.

This is best done with expert help who can craft messages that resonate on a personal level and effectively utilize diverse channels, such as email and social media. A comprehensive approach that integrates various digital marketing tactics is more likely to create a cohesive and impactful online presence that attracts more clients.

Challenge: Attracting New Patients Post-Acquisition

For dental practices, the post-acquisition phase presents unique hurdles, particularly in local markets. An outdated web presence or lingering information from previous ownership can severely impact patient trust and, consequently, acquisition.

In healthcare, where reputation and trust are paramount, the accuracy and freshness of online information are non-negotiable. Ensuring that a practice’s digital identity accurately reflects its current branding and services is crucial for attracting new patients and maintaining the trust of existing ones.

This requires diligent management of online listings, reviews and content to present a cohesive and updated digital presence.

READ MORE: Financial Planning & Analysis Resources for Healthcare Industry

Solution: Localized Marketing, Web Presence Management

For dental practices and localized healthcare services, strategies focused on cleaning up and optimizing web presence are crucial. This involves not just a general SEO approach but a localized one, targeting potential patients in specific geographic areas.

Emphasizing local SEO and targeted social media advertising can significantly enhance visibility and patient acquisition, especially on platforms like Google and Bing. The better your strategy takes into account the nuances of online listings, reviews and content, the more likely you’ll create a positive impression for your local practice.

Challenge: Lack of In-House SEO/SEM Expertise

Healthcare providers excel in patient care but often find themselves at a disadvantage when it comes to managing the intricacies of SEO (organic search) and SEM (paid search). Staying visible in either case requires specific expertise that many healthcare providers lack.

This gap in skills can leave providers invisible in a saturated market, where showing up in search results could mean the difference between thriving and merely surviving. The right in-house talent – or an expert third party – can help with this crucial exercise.

READ MORE: SEO Recruitment: Hiring Organic Search Experts

Solution: Hire Expert Search Consultancies

Consultants specializing in SEO and SEM provide invaluable guidance, helping healthcare teams develop and implement effective strategies so they rank higher on search engine results pages (SERPs).

The right third-party partner will not only implement a strategy, but also train in-house teams, empowering them to manage these strategies effectively. This dual approach ensures both immediate improvements and sustainable management of SEO/SEM efforts.

Challenge: Dissatisfaction with Previous Vendors

Dissatisfaction among healthcare entities with previous vendors is another common challenge businesses face.

Partners must understand service-specific complexities while delivering effective digital marketing solutions within these constraints. The quest for such partners is often fraught with the risk of mismatches, leading to wasted time and resources.

Solution: Web Development and Online Marketing

Developing user-friendly websites with easy content management systems is essential for healthcare providers. These websites must not only be easy to navigate but also reflect the personal nature of healthcare decisions and communications.

A careful balance of technical functionality and empathetic content strategy is key, ensuring that the website serves as a helpful resource for patients. Online marketing strategies must then extend this approach, using digital channels to communicate the value and expertise of healthcare providers effectively.

Challenge: User-Friendly CMS, Efficient Integration for Multi-Site Brands

Healthcare networks face the unique challenge of maintaining a cohesive brand and patient experience across multiple locations. This necessitates a scalable web solution that facilitates easy content management and ensures a consistent patient experience.

Systems must be user-friendly while also capable of integrating various sites under a unified brand umbrella. This system must cater to the specific needs of healthcare services, allowing for easy updates and management without sacrificing functionality or patient engagement.

Solution: Branding, Marketing Strategy Overhaul

Services that specialize in healthcare branding can navigate these challenges, developing clear, compassionate messaging that resonates with patients who may be facing a difficult diagnosis.

Expert service providers can help implement a strategic overhaul that aligns branding and marketing efforts with the core values and expertise of healthcare providers. By communicating these elements effectively, healthcare services can build trust and establish themselves as preferred providers in their respective fields.

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The Business Builders’ Network is full of exact-fit expertise necessary for businesses in the healthcare services industry to achieve their digital marketing demand generation goals.

Our research and operations team specializes in connecting you with the ideal service provider, who understands the sensitivities of your business.

Partnering with BluWave not only simplifies the process of connecting with the right digital marketing solution but also gives you a competitive edge. Set up your scoping call today, and we’ll provide a short list of situation-specific resources within a single business day.

Companies often rely on limited, internal data to define their ideal customer profile (ICP) and total addressable market (TAM). This creates an echo chamber in which businesses miss opportunities to target their most valuable clients.

To combat this challenge, revenue operations specialists come alongside these companies. They deploy a meticulous process, which equips sales teams with a clear plan to maximize revenue.

“The point is to make sure that you’re reaching out to the right people with the right message at the right time,” says Max Scayler*, co-founder of MegaGrowth.

MegaGrowth is one of the world-class service providers in the Business Builders’ Network. Let’s look at the six steps they undertake to help companies define their ICP and TAM.

READ MORE: How RevOps Increases Time to Value for Investments

1. Interview Internal Stakeholders

No one knows their existing customers like a company’s sales team. While the ICP + TAM process doesn’t end here, it’s a great place to start.

“The first step is always to talk to the humans. Interview all the stakeholders, have them tell you what they think the ideal customer profile is,” Scayler says.” That’s important. And there’s always knowledge in that, in the tribal knowledge that is valid.”

This sets the stage for business to understand the perceived ideal customer profile versus the reality.

READ MORE: What is the Voice of the Customer Survey?

The interviews are usually conducted with sales, marketing and customer success teams. A revenue operations firm might ask them about their best accounts and personas to gather anecdotal data alongside the internal customer database.

“Have them tell you what they think it is,” Scayler says, “the type of company where they need to be and why.”

Many ICP exercises stop here, severely limiting a company’s opportunity to understand its customers without testing their hypotheses. But MegaGrowth’s process is just getting started at this point.

2. Analyze Historical Data

The process continues with an internal exercise that goes beyond anecdotes: past sales and performance.

“When we look in the historical data, it’s usually previous orders from customers,” says Ryan Murphy*, MegaGrowth’s other co-founder. “You try to follow the journey, so to speak, out of that.”

Specifically, RevOps firms will review past sales orders and customer purchase data to identify patterns and discrepancies in target industries or customer segments.

“You’re just looking at very early signs of like what type of industries or customers they bought into to help develop a hypothesis,” Murphy adds. “A lot of times these people will have an idea who bought, like nonprofits or construction or manufacturing, or they’ll have their own industry segmentations that don’t necessarily make sense.”

Internal data helps clarify these points, but relying on it too much can be limiting.

“They’ll get the data and then be like, ‘Oh, there’s not enough data here,'” Murphy says.

That takes us to step three in the process.

READ MORE: Importance of RevOps in Due Diligence

3. Analyze External Data

Once internal stakeholders have been interviewed and historical data has been pored over, it’s time to get outside help.

“Let’s make sure we’ve got all the list of accounts of people that have Salesforce out there that we could sell to and we have that data,” Scayler says. “What is the universe of accounts I can buy from ZoomInfo that I haven’t considered?”

MegaGrowth then looks at marketing data such as intent signals.

At this point, the company will have a much clearer idea of its ideal customer profile and total addressable market. To be as effective as possible, though, it must also prioritize these targets.

READ MORE: How To Analyze Sales Data

4. Determine Account Tiers

One approach to this step is to divide your accounts into tiers from the highest chance of success to the least.

The top tier, or Class A, if you will, could be referred to as BCOS (pronounced like “because”) accounts. That is, “best chance of success” based on the analysis done in steps one through three.

“Class B accounts that are worth going after, but not top priority,” Scayler explains. “Then class C…you don’t hunt down specifically. They might buy from you, but they’re not really the perfect profile. So you send them some marketing emails, but you’re not having people manually call them.”

With a clear priority of which accounts to go after, the company is now ready to get buy-in from leadership.

5. Align Leadership Team

Achieving consensus among leadership is one of the top challenges of this whole process, but also the most important.

“That’s a non-trivial step,” Scayler says. “You do all this stuff, you lay it all out, you still have to go through the change management process of getting them all to agree.”

Scayler says that this can be a lengthy process, depending on the makeup up the leadership team and their existing understanding of an ICP and TAM.

6. Build Sales Territories

The sixth and final step is often the most exciting. It’s when your sales team can take all the synergy created from steps one through five and start to go after clients with fresh clarity and motivation.

“We help them size how to approach and scale these accounts and then create a mechanism for them to move them correctly,” Murphy explains.

READ MORE: What is Product Positioning?

Armed with a clear picture of client tiers, a team structure and sales territories are redefined. This system enables the company to efficiently manage and cycle through accounts.

“If you have 10 reps, some salespeople will say, ‘Well I’m just going to assign those 33,000 accounts to all these sales reps.’ Well, that doesn’t make sense,” Murphy says. “The sales rep doesn’t have focus. So a lot of the times we talk about structure and creating a mechanism where they can maybe work on a hundred or 200 or 300 accounts and then cycle those accounts as they work them correctly.”

MegaGrowth works hard to get their clients – whether independent companies, public companies or PE firms and their portfolio companies – all the way through the six-step process.

“Otherwise you just get a lot of churn and burn and nothing’s created,” Murphy says.

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The culmination of all this work may look similar to more traditional ICP + TAM exercises – a list of accounts and contacts within those accounts – but a skilled revenue operations resource can help your business go much further.

“Sales teams get excited because they know these are the right folks and we’ve got the marketing materials to back it up and we know who we’re going after,” Scayler says. “That’s the ultimate result. … It’s also building the sales territories, getting it loaded into their CRM and they start turning the crank.”

When you’re ready to work with a BluWave-grade third-party service provider, our revenue and operations team can scope your need and provide a short list of options tailored to your situation within a single business day. Set up your scoping call today to get started.

*Privacy is important to us. While the source and company name have been changed, these are real quotations from a real service provider in the BluWave Business Builders’ Network.

Selecting and implementing the right Enterprise Resource Planning (ERP) system is a crucial decision for technology software companies. The journey from legacy systems to more dynamic solutions offers a glimpse into the ambition of tech companies to harness technology for operational excellence.

Choosing between Sage and NetSuite, Microsoft Dynamics 365 and Acumatica or Quickbooks and SAP are just a few examples.

But this complex process demands a meticulous approach and seasoned expertise. Working with neutral, third-party service providers can help ensure businesses make the best possible decision.

Here are some of the factors these industry-specific experts consider when assisting private equity firms and their portfolio companies, as well as private and public companies.

The Foundation of a Successful ERP Transition

A successful ERP implementation begins with a deep dive into your current processes, systems and technology stack. For software companies, this might involve moving from basic accounting software to a comprehensive solution that streamlines finance, operations and customer service.

Understanding your specific needs — be they enhancing document management in healthcare or integrating complex billing systems in SaaS — sets the cornerstone for selecting the right ERP system.

Selecting the Ideal Implementation Partner

The expertise of your implementation partner is crucial. Whether transitioning to NetSuite or integrating Epicor’s P21, the importance of partnering with a team that not only understands ERP technology but also the unique challenges of the software industry cannot be overstated.

A third-party resource like BluWave excels in connecting businesses with these specialized experts, ensuring your ERP project is in capable hands.

Navigating Data Conversion and Integration Challenges

Migrating data from various legacy systems into a new ERP platform is a delicate task that requires precision and strategic foresight. The process involves not just technical know-how but also an understanding of how data conversion impacts future operations.

It’s here that the value of a knowledgeable partner becomes evident, offering insights into best practices for data integrity and system functionality.

Custom Solutions for Billing and Subscription Management

For companies with intricate billing models, implementing a new system presents unique challenges. Expert guidance is invaluable in evaluating potential platforms and ensuring the selected system aligns with your business model.

Strategic advice can help navigate the complexities of vendor selection, avoid common pitfalls and manage the implementation process effectively.

ALSO SEE: IT Due Diligence: Technology, Software Industry

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The Business Builders’ Network is full of exact-fit expertise necessary for software companies to achieve their ERP implementation goals, and fast.

Our research and operations team specializes in connecting you with the ideal service provider, turning the daunting task of ERP selection and implementation into a strategic success story.

Partnering with BluWave not only simplifies the process of finding the right ERP solution but also ensures that the journey enhances your competitive edge. Set up your scoping call today, and we’ll provide a short list of situation-specific resources within a single business day.

Revenue operations unify the go-to-market strategies across sales, marketing, customer success and finance, streamlining processes from lead generation to revenue realization.

Whether private equity firms are deploying revenue operations during the due diligence process, or private and public companies want to be more efficient, this process can accelerate the time to value for investments.

“We define RevOps as a holistic approach to all of the go-to-market processes that a company uses to run their sales, marketing, customer success and finance teams all the way from lead to cash,” says Max Scaler*, co-founder of MegaGrowth. “I think it’s important to say it’s not sales ops. A lot of people think RevOps is just another name for sales ops or marketing ops, and that’s not the case.”

Let’s take a deeper look into how revenue operations can bring your business more value on a faster timeline.

RevOps: Greater than the Sum of its Parts

RevOps enhances the efficiency and effectiveness of go-to-market teams by eliminating operational bottlenecks and enabling faster, more informed decision-making.

“It is a force multiplier for your go-to-market teams,” Scaler says, “removing things that slow them down.”

Beyond enhancing efficiency, RevOps fosters a culture of continuous improvement and innovation. By breaking down silos, it encourages cross-functional collaboration, leading to creative solutions that drive growth.

READ MORE: Defining Your ICP, TAM with Revenue Operations

Create Leadership Alignment

Investment in RevOps fosters alignment among leadership teams, ensuring cohesive planning and execution toward revenue goals.

“Investing into our function creates leadership alignment, but it also creates the ability to put into place a plan tracking how they’re driving revenue,” says MegaGrowth’s other co-founder, Ryan Murphy*.

This alignment extends beyond mere agreement on objectives; it cultivates a shared vision for success that permeates every level of the organization, ensuring that every team member is working toward the same goals with a unified strategy.

Track, Drive Revenue Like Never Before

RevOps provides a structured approach to track and drive revenue, supporting strategic decisions on leadership supplementation and operational focus post-investment.

The right strategy not only tracks revenue but also identifies new revenue streams and opportunities for expansion, providing a comprehensive view of financial health and growth potential.

How To Improve Efficiency, Productivity of Sales & Marketing Teams

Implementing RevOps also means embracing agility in sales and marketing strategies, allowing teams to quickly adapt to market changes and customer needs for sustained growth and competitiveness.

“Marketing attribution…lets you reallocate that money to places that are working,” Scaler says.

RevOps optimizes sales and marketing efficiency by ensuring investments like marketing spend are allocated to the most effective channels, improving overall team productivity.

Here are other ways a solid revenue operations strategy can benefit sales and marketing teams:

• Marketing Attribution: By accurately attributing marketing spend to revenue outcomes, companies can optimize their marketing strategies.
• Lead Scoring and Routing: RevOps enhances the management and prioritization of leads, ensuring high-value prospects are engaged promptly.
• Customer Success: It focuses on maximizing customer lifetime value through streamlined support and engagement processes.
• Quote-To-Cash: RevOps streamlines the quote-to-cash process, reducing friction and accelerating revenue recognition.
• Subscription Management: Effective management of subscription models ensures consistent revenue streams and customer satisfaction.

Benefits of Neutral Third-Party Strategy Consultants

A neutral third-party consultant in RevOps can provide unbiased insights and recommendations, helping to resolve internal disagreements and align strategies with best practices.

“Part of the value any strategy consultant brings is an objective third-party opinion,” Scaler says.

READ MORE: Revenue Operations in Due Diligence: How it Creates More Value

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The RevOps resources in BluWave’s invite-only network of service providers specialize in helping the world’s top business builders on an industry-by-industry basis. They have worked alongside countless companies to operate more efficiently, saving time and money.

Efficient implementation of RevOps can significantly reduce the time to achieve investment goals, acting as a multiplier for returns by streamlining operations and enhancing decision-making processes.

“Time is the biggest issue,” Murphy says. “If you can cover the time perspective of that and reduce it, you get a multiplier in your investment.”

Our research and operations already knows the resources you need before you contact them. They’ll scope your business’s unique situation and provide a short list of tailor-made options within a single business day. Set up a call today to make revenue operations a part of your value creation process.

*Privacy is important to us. While the source and company name have been changed, these are real quotations from a real service provider in the BluWave Business Builders’ Network.