Strategic Sales Development Group Case Studies 1 DEVELOPMENT OF A GOVERNMENT PROCUREMENT SALES CHANNEL FOR A PREMIER MEDICAL DEVICE COMPANY A Business Development Case Study By Michael Monaco (SSDG Chief Business Development Consultant) When choosing any type of consulting firm to work with, you are committing your company’s valuable resources; money, time, and employees to a project, and we understand that you want to be absolutely sure that your investment will deliver significant results. We offer this case study as an example of our work. We also offer every client a standard Non-Disclosure Confidentiality agreement, and will always keep client details confidential. Summary The client referenced in this document is a very successful ($3.8 billion dollar) Medical Device Company. The following case study explains how this Medical Device Company used consultants from Strategic Sales Development Group (SSDG) to identify unrealized market opportunities and grow incremental sales by over $10M during the initial two years. In addition, the new business segment that we developed together continues to grow, outpacing all other divisions within this company, with current revenues of over $40 Million dollars. Background The Medical Device Company is a premier eyeglass manufacturer servicing the healthcare vision industry with high quality eyeglass products. Although they were leading the eyeglass industry in year over year double digit growth, the company’s growth rate was slowing each year. The management team was aggressively seeking new ideas to recover the type of growth rate they had previously experienced, and they approached Michael Monaco of SSDG to identify significant new opportunities, develop a business plan to take advantage of the opportunities, and work with key company staff to deploy the business plan. Strategic Sales Development Group Case Studies 2 The SSDG Solution SSDG analyzed the company’s current market focus in order to identify and document all overlooked market opportunities. Following this analysis, we wrote a “New Business Plan” to help them expand into the US Government Procurement Marketplace (including: Medicaid, Medicare, Veterans Administration, Department of Defense, Native American…) SSDG worked with their teams In their Business and For their Business to develop 10 Key Steps in the “New Business Plan”: PHASE I Step One: SWOT Analysis What existing and new resources would they need to deploy in order to succeed in this previously unrecognized marketplace? Step Two: Development of Business Goals What level of incremental revenue could the Medical Device Company expect? Step Three: Identification of Market Trends & Opportunities How/where would they need to position the company in order to take maximum advantage of the ever-changing Government Vision Care Marketplace? Step Four: Development of Clear Objectives Realistic milestones and timelines for success were identified, agreed to, and documented. Step Five: Development of Strategies, Tactics, and Internal Team Structure We defined exactly how they should approach the government marketplace, and identified specific internal team member expertise that would be needed to provide leadership and fulfillment in order to maximize success. PHASE II Step Six: Market Segmentation & Analysis We defined how they should best focus their limited money, time, and human resources within the extremely broad government marketplace. Step Seven: Cost Models & Service Needs We provided the company with a better understanding of what they needed to consider in the way of the level of service needed to meet and exceed market expectations. Step Eight: Financial Models We concentrated on how to structure profitable financial deals within the new marketplace. Step Nine: Delivery Models We defined how and where to consider the best delivery models to meet the needed financial expectations Strategic Sales Development Group Case Studies 3 Step Ten: Product & Service Offerings SSDG worked with the Medical Device Company staff to develop new Product Configurations and Service Offerings that allowed the company to develop a strong competitive advantage immediately upon entering the new Government Marketplace Business Impact For The Medical Device Company The Vice President of Development For The Medical Device Company Gave The Following Testimonial: “Michael Monaco of SSDG worked within our business, for our business, to identify new sales opportunities, develop a business plan to address the most promising opportunity, and deploy the plan. As a direct result of this work, our company entered the lucrative government eyeglass market, capturing over $10 Million dollars of new business within the first two years. The initial focus was on Medicaid and the Veterans Administration, followed by expansion into Medicare, Department of Defense, and Native American opportunities. Today, our growth into this new marketplace continues, with current annual sales of over $40 Million dollars.” Conclusions The Medical Device Company leveraged SSDG’s business development expertise to become a major established vendor within the US Government marketplace. The company is now well recognized across this new sales channel as a high-quality provider of vision products and services. Growth into the sector continues, with current annual sales of over $40 Million. SSDG has the expertise and experience to help any business with high-quality offerings develop an optimized business plan to address government marketplace opportunities. SSDG works with clients “In their Business for their Business” in order to identify all unrealized business opportunities that can deliver significant bottom line growth. Find Profitable New Business Opportunities For Your Company If your company offers high-quality products and / or services, but does not currently participate in the lucrative government marketplace, we can help you enter this sector quickly and with minimum cost. Contact SSDG to arrange an initial consultation and discuss your potential opportunity to develop a broad new sales channel that can help boost your profitability to record new levels: Contact: Michael Monaco Strategic Sales Development Group Call: 716-417-2194 e-mail: consultants@sales-ny.com www.sales-ny.com