Numbers & Lifestyle Improvement
I have been wanting to carve out some time to send a detailed update and reiterate how impactful the Rob Nixon program was for our business.
We joined in September of 2018. Below is a high-level summary of our numbers:
- 10 full time chargeable people
- Gross fees $990,000
- Chargeable owner hours: 1330
- Owner comp via salary: $110,000
- Partners were working a ton, overall quality of life was poor, total comp was maybe $200K for two partners.
We were feeling like we had left two well-paying jobs for a very stressful situation. We were not spending the time with our kids we wanted, not sleeping enough and our marriage was struggling due to lack of alignment and stress.
Through the Nixon program we had alignment as a leadership team for the first time. Priorities were clear and we knew we just had to execute on what Rob told us to do. We learned how to measure and track our business performance as well and are still using the metrics Rob taught us.
Current state of our company:
- About 38 team members
- Both partners are zero chargeable. We hop into client meetings when we want to, but we don’t need to be involved in day-to-day client work. Our time is spent on running the company, sales and community involvement.
- Partners both go to the gym, sleep at night, spend time with our kids and work 30-40 hours per week. But this is very much on our terms, the business doesn’t own us anymore. We own the company! I personally have capacity to volunteer at the kid school, spend time with my parents, etc. Our quality of life is so much better. J’s dad is terminally ill, and it is such a blessing we can spend time with them, and we aren’t stressing about work constantly.
- Annualized revenue about $5.4MM, comp to owners about 25% of revenue.
- 1/3 of our team is based out of the Philippines, since we had a virtual team pre-COVID our team adjusted so well to the pandemic. We now have team members across three states and 6 cities as well. We can hire talent wherever they are.
- Clearly defined core values, vision, goals. We hire/fire around core values and hold people accountable.
- Niching the following industries and have “leaders” over each (not totally there yet but moving in that direction): government contracting, nonprofit, construction, and energy.
When COVID hit we had so much exposure in the energy industry our revenue decreased by about 1/3 almost overnight. It was a very stressful time and my communication around leaving the program was so poor. I sincerely apologize for that as my handling of that situation did not accurately reflect how much I value you both. We still have challenges just like any business, but I cannot thank Rob enough for the trajectory he put us on. We would 100% not be here without you all.
Thank you so very much for everything!