Assignment Task :
Richard Abela:
Value propositions:
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Get Help Now!- Scaffolding business- having high standards & ethical practices
- Highly professional in a not so professional industry
- Takes safety serious, onsite procedures seriously
- International Board- attractive to future investors as it indicates having an international focus
- How stakeholders connect and interact is important- board attracts investors
- Make their own scaffolding- in China to Australian standards (selling in Canada and Holland now)
People-
- Senior managers are in Sydney minus 1 in china
- Hiring people who will take Oldfields to the next level (in the long term)
- Investing in structure & capacity- What people do i need know to put add capacity and let us grow
- Appointment- international manager to help grow offshore (in Asia), then in the UK (only able to think of this since Nov)
- Financial
Deferred Senior Loan Quote-
- Ability to grow was limited due to details of previous “saving”
- Gone as of Nov 2019- can now grow (previously were constrained on how much they could spend)
- They are in the awkward middle ground- no one supports them at all (either large companies or mom and pop stores get support)
- Financing for mid-sized companies is very difficult in Australia
- Solution: investors coming from other countries
Time Horizon-
- In Australia- often 6 months
- Announce their results every 6 months (Oldfields didn’t make any money first half of year- but its a marathon not a sprint)
- Decision making will change depending on time horizon and pressure put on board and CEO- 6 months vs 3 years
- Do you invest in R&D? Do you launch a marketing plan? Do you accelerate a product launch? Do you hire the manager you want?
- This pressure comes because it is a public company- if it is private, less time horizons
- Entire financial structure will change in the next 6 months that will change how it’s operated
- November- change of org structure
- Hasn’t changed much- but can now write 3-year plan in an unencumbered way
- Previously: 80% of free cash flow had to go to bank,
- Doesn’t give short term kick, but affects long term
- Can invest again
- Changes will manifest itself over time
Stakeholders
- Shareholders- invested in business and been patient
- New investor owns 51%
- All shareholders get same information
- Customers- receiving product & service
- Employees-
- Community around us- Campbelltown employer & employees also buy lunch, etc.
- Marketing
- Scaffolding- B2B relationship style marketing (more profitable)
- High-risk product, need to be trusted to keep them safe
- Scaffolding is means to end- just focused on making process as smooth as possible
- Not a cool product, but a necessary
- Best service, in and out quickly, invisible to the customer
- Bad scaffolding- not bad product but bad service
- Paint- mass marketing (difficult, price per unit is low, lots of competitors, low entry barriers,
- For a long time, relied on others to talk to customers
- Taking a more direct approach now
- Upsetting established channels- why?
- They weren’t doing much anyways
- They don’t have direct access either
- So many existing companies introducing home products, they are at risk of being forgotten if they don’t have the one to one relationship with customers
Future marketing
- One to one discussion with the end consumer
- 50% of the market is ignoring Oldfields
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