A good friend of mine was a senior manager for a software development company who had been there since the beginning. The company enjoyed a steady stream of revenue but by no means were they getting rich. Then one day, the company’s profits skyrocketed. Money was coming in, more hires were made to handle the demand, and bonuses went from bi-annual to monthly. Everyone was happy and at the end of the year, the CEO told the staff to expect more of the same in the New Year.
Then, the bottom fell out from under the company just a few months later. Revenues plummeted. Layoffs were a regular occurrence. Bonuses ceased. How could a company go from the top of the world to the bottom of the barrel so fast?
The answer turned out to be easy; their success the previous year was because they had one, just one, very large client that equated to 75% of their total revenue. That one client only signed a 12-month agreement and did not renew. Though the software my friend’s company produced was exceeding expectations, the customer service and technical support was sub-par, so the client found a company that did both very well. They also neglected their smaller clients, who left to go with other firms...
The Institute of Certified Professional Managers in accordance with the James Madison University holiday schedule will be closed on December 19th, 2018 - January 1st, 2019 in observance of the holiday season. We will return to the office on January 2nd, 2019 at 8:00 AM ET.
Thank You ICPM Board of Regents Members
As we wrap up 2018, ICPM wanted to thank all of our Board of Regents members for helping advance managerial excellence this year. We also wanted to specially recognize 2 Board of Regents members, Scott Gunderson and Bill Davis, for helping us work the booth at the National Resturant Association Show in May. They showed great commitment to ICPM's mission as we look to expand U.S. business in 2019.
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