When this advisory firm partnered with My Virtual COO, they were doing good work but couldn’t grow. Client numbers stalled, roles overlapped, and their tech sat unused while their goals outpaced operational capacity. The team was working hard, but not in a way that supported long term success.
Main Challenges
- Stagnant Client Growth: The number of clients remained relatively unchanged for years.
- Team Structure: The firm had eight staff members and relied on a single outsourced provider, limiting capacity and specialization.
- Unrealistic Growth Goals: Initial five-year projections were ambitious but lacked grounding in operational reality.
- Operational Inefficiencies: Processes were undocumented or inconsistent, leading to friction, burnout, and missed opportunities.
- Underutilized or gaps in tech: Client scheduling was manual, the CRM wasn’t being used, notes were taken manually, and no automations were in place.
- Brand and Marketing Gaps: The firm lacked a cohesive brand strategy and marketing support to attract new clients.
What We Implemented
Over the course of the engagement, the following strategic and operational improvements were made:
Strengthening the Foundation
Team Expansion and Development:
The firm strengthened its internal structure by bringing on a summer intern to support special projects and promoting a Lead Advisor to Partner. The leadership team refined career paths and job descriptions to give everyone clarity and direction. The firm transitioned lower tier clients to the Associate Advisor to support their growth and free senior advisors to focus on business development. The firm also started building a Client Service Associate role to expand operational and technology support.
Provider Network Growth:
To elevate their brand and client experience, the firm brought in a branding attorney for trademark and intellectual property support and partnered with an outside marketing and website provider. The team updated the website to reflect this expanded network, including the addition of their investment contractor’s bio for greater transparency and credibility.
Technology Enhancements:
The team adopted Jump to automate notetaking and GReminders to streamline scheduling and client engagement. The team created Lean processes within Redtail CRM to reduce manual workload and improve delegation. The firm integrated Levitate into the sales process, allowing the firm to launch consistent monthly newsletters and maintain more meaningful client touchpoints.
Client Experience Overhaul:
The firm restructured its client base by segmenting clients according to tiers, services, and experience needs, and updated the CRM to support this structure. The team documented the full client journey, including roles, responsibilities, and growth goals. The firm introduced electronic payment options for financial planning services, and both the prospect journey and onboarding workflow were refined to create a smoother, more welcoming first impression.
Culture and Communication:
The firm invested in its culture by organizing team outings and planning retreats that included “State of the Company” presentations to improve transparency and alignment. Weekly meetings were redesigned with structured agendas to strengthen accountability, streamline communication, and improve team collaboration.
The Results
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Team Capacity and Efficiency: With better delegation and tech tools, the team increased its capacity without adding full-time staff.
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Operational Clarity: Defined workflows and responsibilities reduced friction and improved onboarding and client service.
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Brand Evolution: Rebranding efforts began with Legal’s support, laying the foundation for stronger market positioning.
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Revenue Strategy: Set realistic goals to replace lost revenue, aiming to attract 10 new clients and generate $160,000 in new revenue in the next year.
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Technology ROI: GReminders and Jump helped protect time, reduce scheduling friction, and increase profitability.
Key Takeaways
- Start with People: Operational transformation begins with clear roles, responsibilities, and career paths.
- Lean Into Tech: Strategic tech adoption (Jump, GReminders, Redtail workflows) can dramatically improve efficiency and client experience.
- Realistic Goals Drive Real Growth: Initial goals were ambitious but misaligned. Through reflection and strategy, the firm recalibrated to achievable, impactful targets.
- Culture Matters: Retreats, promotions, and team outings foster engagement and alignment.
- Branding and Marketing Are Not Optional: Investing in branding and marketing is essential to attract new clients, new talent, and replace lost revenue.
Why It Worked
The firm rebuilt its foundation by clarifying roles, improving culture, and adopting the right technology to reduce friction and free up capacity. With a more strategic brand presence and realistic revenue goals, they created a clear path to attract ten new clients and generate $160,000 in new revenue. By aligning people, processes, tech, and positioning, growth became both achievable and sustainable.
Ready for Your Success Story?
Our Fractional COOs help service-based Health, Wealth, and Advocacy business owners and operators optimize talent and systems to scale business operations to support growth. We boost the foundational aspects of your business operations:
- Growth and Profit Projections
- Organizational Design, Roles, Responsibilities and Career Pathing
- Lean Process Design
- Client and Operations Experience Design
- Productive Collaboration
- Time Management
- Business C-Suite Operations Training
