Grasshopper Multiplied Profits by 10x in Just 5 Years
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The Scenario
Grasshopper, a cloud-based virtual phone system for small businesses, actively nurtured a high-growth culture and was on the road to success. However, there were several key challenges in the company that needed addressing to make it possible for its leadership team’s goals to be achieved.
The first is that for a long time had neglected to define its core values, allowing the culture to take a shape of its own. Secondly, in the early days of the company, the team would set a growth target but they had no reliable way to know which strategy, tactic, or test would lead to hitting the number.
The Approach
CEO Coaching International implemented best practices from the proven methodology known as the Make BIG Happen System to drive the BIG growth they were looking for:
- Involved employees in refining the company culture and developing cultural values.
- Hired the right people that led them to a mature growth phase.
- Reinforced company culture and core values and created employee incentives aligned to the company’s purpose.
- Created a culture by design, not by default, and implemented disciplined practices that will lead them to a profitable sale of the company.
- Learned how to come up with multiple growth ideas, and carefully test and measure the results of each one to then back the ideas that generated the best results.
The Results
Grasshopper saw 10X growth in profits in 5 years of coaching.
Acquired by Fortune 500 company Citrix Systems in 2015
Valuation of $172.5 million upon sale.
“CEO Coaching International is a big reason that Citrix buying Grasshopper was even a remote possibility. Thanks to your ability to challenge us to think differently, to hold us accountable, and to make connections to the right people at the right time.”
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