Helping a lighting company reinvent itself.

What they needed:

• With a new disruptive lighting technology (LED) entering the lighting industry and new products lasting years instead of months, this lighting company was struggling with an ever-shrinking legacy market and new, lower cost, faster moving competitors awaiting them in the new world.

How it’s traditionally done:

• Follow the well worn path of digging deeper and trying to increase share in the legacy space even as returns continue to dwindle.
• Ask employees in the core business to uncover new and innovative business opportunities which they might be ill equipped to identify and at a minimum would create focus and bandwidth issues.

How we did it:

• A start-up team of eight people was created to act independently from the mainstream legacy business.
• This new start-up team was empowered and incentivized to explore new markets, particularly large, strategic commercial and industrial lighting prospects.
• To accelerate the team’s impact, radically new reporting and compensation structures were created.
• Weekly coaching helped the start-up stay focused, ask different questions, take calculated risks, learn and adapt in real time.

How it worked out:

• In less than six months, the team broke out and created a new outcome-oriented LED lighting business focused on commercial and industrial solutions for large enterprise customers.
• They netted ~$30,000,000 in their first year.
• Less than two years later, their pipeline now exceeds $300,000,000.