Anchor Advisors, Ltd.

BACKGROUND

Introduce your business and what you do there.

I'm the CEO of a real estate firm. We work in construction, property management, investment brokerage, and residential leasing.

OPPORTUNITY / CHALLENGE

What challenge were you trying to address with Anchor Advisors, Ltd.?

At the time, we were a 60-person company looking to scale our business. We wanted to adjust our internal organizational structure, preparing a solid foundation to support us as we continue to grow.

SOLUTION

What was the scope of their involvement?

We started with a comprehensive interview where Anchor Advisors asked a series of questions. For example, they asked us how we measured our performance, which none of us could properly answer. With that response in mind, they quickly helped us implement key performance indicators (KPIs), allowing us to manage our responsibilities.

The team also restructured our finance department to better accommodate our rapid growth. In addition, they assisted with recruitment and HR processes and updated our company's vision, mission, and core values to accurately reflect our brand.

Now, they're helping us find a new director of construction, a role that will lead a new department we've implemented internally. Anchor Advisors is leading that campaign and designing the new position's role and responsibilities. 

What is the team composition?

I work with Brad (Business Growth Advisor, Anchor Advisors) and Barb (Business Advisor, Anchor Advisors).

How did you come to work with Anchor Advisors, Ltd.?

We interviewed three people that we found through a Google search. Anchor Advisors outshined the other candidates with their technical abilities, problem-solving skills, and overall potential. We were confident that they could help us realize our vision and meet our goals. 

How much have you invested with them?

So far, we've spent $60,000.

What is the status of this engagement?

We started working together in May 2017, and it's an ongoing partnership.

RESULTS & FEEDBACK

What evidence can you share that demonstrates the impact of the engagement?

Internally, we've improved a lot. Before partnering with Anchor Advisors, our finance group was in rough shape. The staff was talented, but they weren't necessarily working efficiently. Restructuring that department was a huge help, alleviating some stress from the CFO and better allocating responsibilities among employees. We implemented a new hiring plan, which was also very well received. 

In terms of HR, Anchor Advisors taught one of our resources how to phone screen and how to use ZipRecruiter. They also provided several relevant questions to ask throughout the recruiting process. With our improved HR department, we're able to scale more effectively and grow our business. We've landed on the Inc. 5000 list multiple times.

How did Anchor Advisors, Ltd. perform from a project management standpoint?

Overall, they do a great job. The team excels in larger, overarching projects, but when we get into the smaller details, we sometimes lose focus on the big picture. We meet every couple of weeks at a minimum, but communicate via email as necessary.

What did you find most impressive about them?

Because Barb was formerly an investment banker, she has a holistic view of organizing companies and deals. Brad worked in private equity, so he's experienced in buying organizations, restructuring them, and selling them. 

With that background, they thoroughly understand the inner-workings of a company. Their expansive knowledge is extremely valuable. I highly recommend their services.

Are there any areas they could improve?

With everything considered, they're not bad. During one of our specific onboarding initiatives, our chief learning officer (CLO) requested a more detailed approach, but Anchor Advisors, Ltd. didn't deliver. They provided a basic framework, but the CLO had to make several adjustments to get it up to standard. I assume this was because they had a busy schedule and didn't have enough time to address those needs. To avoid this, we've upped our engagement with them recently.

BACKGROUND

Introduce your business and what you do there.

I currently act as the CEO of a company called Debt Cleanse. When we first engaged Anchor Advisors, I was the CEO of another company. They worked with me for both companies.

OPPORTUNITY / CHALLENGE

What challenge were you trying to address with Anchor Advisors, Ltd?

I initially hired them while working for a previous company. We wanted to grow the business by working on our compensation plans and optimizing our hiring processes. After I started Debt Cleanse, I re-engaged them to help grow my current company.

SOLUTION

What was the scope of their involvement?

They provided consulting services across two companies. In the first company, we collaborated with them to refine our compensation plans, interview new candidates, and hire employees. They introduced us to personality profiles and did behavioral interviews with a number of candidates.

However, over the course of the work, I realized that I was better suited to growing businesses at the startup level, so I decided to hire a CEO to take the reins of my previous company and start a new one. Anchor Advisors helped us identify my replacement and design her compensation package. I became Chairman and principal shareholder. As we drafted her contract and engaged her, they also provided valuable feedback.

We disengaged for a while as I built my new business, but I eventually brought them back on to help craft my company vision. They provided input on pricing, design, marketing, and other important aspects of the business. They also helped me refine my ideas and assisted with hiring new employees; again, personality profiles and behavior interviews played a major role in this process. Currently, they continue to provide consulting services.

What is the team composition?

I work with Brad (Principal, Anchor Advisors, Ltd) and Barbara (Business Advisor, Anchor Advisors, Ltd).

How did you come to work with Anchor Advisors, Ltd?

I’m a member of a group called Vistage. I asked the chair of our group for recommendations and she referred me to Brad.

How much have you invested with them?

I pay $4,600 each month, plus a few hundred dollars every time they do a personality profile for a candidate. We’ve spent about $50,000 over the course of our relationship with them.

What is the status of this engagement?

We started working together in July 2017. Our engagement is ongoing.

RESULTS & FEEDBACK

What evidence can you share that demonstrates the impact of the engagement?

The new business is set to launch in a few weeks. We have no revenue yet, but are optimistic about the launch. They have a good instinct for what will succeed and have been a very helpful dose of reality. We feel we can build a long-lasting business that doesn’t necessarily depend on just me to make it successful. We’re avoiding costly mistakes and engaging them was very worthwhile.

How did Anchor Advisors, Ltd perform from a project management standpoint?

Their communication is very high-quality. They are responsive and timely and they’re good listeners. They realize that projects are subject to change and they are open to nuance. They draw on their experience in different sectors and are very thoughtful in their approach. We meet in person at least twice a month. We also email frequently and occasionally speak on the phone.

What did you find most impressive about them?

I’ve learned a lot from them. They’re very helpful and we’ve become personal friends. They provide insights that maximize the impact of decisions we make. They also help keep our vision broad and avoid problems that arise with a narrow viewpoint.

Are there any areas they could improve?

No. Whenever I have a question or a problem, I can ask them and the answer is usually really good. They’re good advisors and they give appropriate input. There isn’t anything I’d like them to do differently.

BACKGROUND

Introduce your business and what you do there.

I’m the CEO of Jayne Agency, a branding, strategy, and user experience company.

OPPORTUNITY / CHALLENGE

What challenge were you trying to address with Anchor Advisors, Ltd.?

We needed business consulting help. We had an extraordinary amount of leads and a large body of clients, and we lacked the skills to qualify and manage them properly. We were contemplating selling the business and needed business advice.

SOLUTION

What was the scope of their involvement?

Anchor Advisors began by internally auditing our pipeline and business development lexicon. From there, they reviewed our interactions with current clients and monitored all client and business development activity. They cleared our pipeline and client list after securing the ones that matched our requirements. They ensured our clients were the right size and realistic for our company. Additionally, they give us operational development support, so we know everyone’s role within our company.  

What is the team composition?

We work with Brad (Business Growth Advisor, Anchor Advisors Ltd.).

How did you come to work with Anchor Advisors, Ltd.?

I had heard of them and when Brad contacted me about making industry connections, we stayed in touch. When I felt I needed to sell my company, Brad convinced me it wasn’t a good idea, so I trusted him with this process.

What is the status of this engagement?

We began working together in August 2017 and the relationship is ongoing. We’ll keep working together as long as Brad wants to.

RESULTS & FEEDBACK

What evidence can you share that demonstrates the impact of the engagement?

Our company has doubled our revenue, thanks in part to the Anchor Advisors team. We are selling and delivering at full capacity. They’ve helped us save about $17,000 in monthly costs that weren’t necessary for our business. Their team’s advice has made us confident in screening our pipelines for deals that don’t suit our company. We also have a better understanding of our operations within the company.

How did Anchor Advisors, Ltd. perform from a project management standpoint?

We communicate through the phone and over email.

What did you find most impressive about them?

Their team shows determination and remarkable empathy toward the work they’re doing. Brad is an essential part of our team, and we love working with him.

Do you have any advice for potential customers?

It’s important to follow the advice they give you.

BACKGROUND

Please describe your company and position.

I am the CEO of Digital Third Coast

Describe what your company does in a single sentence.

Digital Third Coast was founded in 2007 with a mission to make a measurable difference through SEO, content, and paid media marketing services to grow businesses.

OPPORTUNITY / CHALLENGE

What specific goals or objectives did you hire Anchor Advisors, Ltd. to accomplish?

• Get unstuck
• Grow my business
• Empower my team

SOLUTION

How did you find Anchor Advisors, Ltd.?

• Referral
• Other

Why did you select Anchor Advisors, Ltd. over others?

• Great culture fit
• Good value for cost
• Company values aligned

How many teammates from Anchor Advisors, Ltd. were assigned to this project?

1 Employee

Describe the scope of work in detail. Please include a summary of key deliverables.

I had known Brad for years before I hired him personally to help me get unstuck and drive both my own career and my business forward.

RESULTS & FEEDBACK

What were the measurable outcomes from the project that demonstrate progress or success?

I am more organized, better at delegating, mentally tougher, and (not to bury the lede) became the CEO of my company. 

Describe their project management. Did they deliver items on time? How did they respond to your needs?

Brad never misses a deadline, and won't let you either :)

What was your primary form of communication with Anchor Advisors, Ltd.?

Virtual Meeting

What did you find most impressive or unique about this company?

I felt a genuine interest in my success and the success of my company.

Are there any areas for improvement or something Anchor Advisors, Ltd. could have done differently?

n/a