What’s It Really Worth?
At the age of 70, Jack came to us with a simple proposal: he wanted to retire. He had run his employee benefit plans company, John Chute & Associates (JCA), for over two decades and was looking to sell his business. Yet in spite of his and his company’s success, Jack was still worried. Could anyone possibly run the business without him? Were they specialized enough attract prospective buyers? They were important questions and they looked to Growth Path to solve them.

The First Step
Before we could help Jack solve his problems, we had to answer some of these basic questions. We arranged advisory meetings with six of Jack’s most devoted clients. What was it they saw in JCA? Why did they continue to patronize them instead of their much larger competitors? Turned out the answer was pretty simple: JCA was the foremost expert on the healthcare industry. They knew how to work with nurses, doctors, organized labor and local healthcare integration networks. Quite simply: in the world of healthcare benefits, JCA was king.

An RFP, An Opportunity
Even though JCA obtained roughly 80% of its business from the healthcare sector, they never marketed this as their expertise. They never properly articulated or marketed their true value. Fortunately, an opportunity came in the form of a major RFP. Before engaging Growth Path, JCA had a fairly archaic RFP response process – either: “Yes we do comply,” or “No we don’t.” Growth Path’s job was to create something far more thorough; a template that not only detailed the company’s proficiency in healthcare, but also articulated its true value. 40 pages and a great deal of work later, we had it.

Success
Three months after JCA started using the new RFP template; they received a call from a competitor and one of the biggest players in the industry. They wanted to buy JCA. The planned to expand their business into the healthcare sector and JCA, with their incredible and well-articulated experience in healthcare, was the most valuable organization in town. The key to both Jack’s and JCA’s success was in understanding the value to end-customers. Jack was trying to sell something without knowing why it was so valuable – just having the instinct that it was. We articulated that value, which JCA was able to reap.

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