Established in 1990, Bearcage Productions Pty Ltd (Bearcage) is now a successful award-winning creative film and production house, employing over 20 people.
The company experienced rapid growth over the last eight years, driven primarily by its business owners and built around a creative production model. However, driving further growth was becoming not only increasingly more difficult, but also more costly to realise.
Ensuring sustainable future growth provided a perfect reason for Bearcage to look at doing things differently. In consultation with Enterprise Connect Business Advisor, Dominic Dolan, Bearcage undertook a Business Review to look at how it could establish a cost- efficient growth- driven business model.
The Business Review process
“To sustain growth especially during difficult financial times, we needed to look at changes to our corporate structure but without diluting our brand, staff creativity, reputation or bottom line” says Managing Director and co-founder Michael Tear. “During the review, Dominic immediately identified areas for improvement and I knew we had the capacity we needed”.
Dominic’s relevant industry background and wealth of senior management experience meant that he could offer a combination of relevant strategic and practical advice. With Dominic’s guidance, Bearcage reviewed its business structure, benchmarked its operations, defined key issues facing the business and highlighted the business outcomes needed to be achieved.
The recommendations
The
Business Review recommended developing a strategic plan, a supporting marketing plan, undertaking a skills gap analysis and value stream mapping to improve internal production processes. Being eligible for an Enterprise Connect subsidy, Bearcage engaged a consulting company, Non Executive Management (NEM) to assist with hands-on implementation of the above recommendations.
The value of the review
While Bearcage was still rich in potential, the Business Review showed the company needed to be more flexible to take advantage of both technological advances and larger business opportunities.
“We are currently re-engineering a new business- outcomes structure, focusing on market needs but also ensuring we maintain our creative prowess. Our more commercially- focused structure enables better business processes to meet deadlines, to measure performance, to manage intellectual property and to develop and successfully manage larger business opportunities” says Michael.
“In this more open culture, roles are clearly defined, with staff being more empowered to take on both greater responsibility and to drive the business. They see the benefit of this new structure- it makes their life easier and liberates their creativity.”
Michael compares the Business Review process to holding a mirror up to the business owners. “You need to be ready to self-analyse; to want to get the best out of your people; to want to compress five years of driving business into two years of previous effort” says Michael. The overall outcome of the Business Review and new business structure is forecasted to see a doubling of profit over the next 15-18 months.
“In today’s market you need to be equipped to drive sustainable business growth” says Dominic. “A successful company, striving to be an employer of choice, not only minimises resourcing costs but it improves business productivity.”