Sabre Integrated Security Systems was selected to participate in the Goldman Sachs 10,000 Small Business Program, a four-month interactive program created to stimulate the growth potential of small business owners. We recently had a chance to speak with Cliff Franklin, CEO and Owner of Sabre Integrated Systems, LLC, to better understand his experience developing Sabre’s growth plan to include the Brivo OnAir® and Eagle Eye Security Camera VMS solution:
1. How did you hear about the program/get introduced to the idea of applying?
A friend in my networking group went through the program some years ago, so I was familiar with it. The application is time-consuming, as you have to provide a lot of historical data on your company. Back in 2015, I started an application but stopped when I ran out of time. Then, in January of 2016, I received an invitation directly from the program organizers. I took this invitation seriously and submitted my application.
2. What valuable skills have you gained from the 4-month program?
I received so much information from the program–how to read financial statements; how to produce a process map; effective marketing techniques; how to successfully negotiate. But, more than anything I’ve learned to become an effective leader for Sabre Integrated.
3. By how much do you expect to grow your revenue now that you’ve graduated?
The growth plan I produced during the course is a roadmap that will see a tenfold increase in Sabre’s revenues over the next five years.
4. What are you looking forward to the most about working with your personal business advisor?
Like most small business owners I used to believe there was a ceiling to the growth potential of my company. The Goldman Sachs’ business advisors will push me to go beyond the potential I perceive.
5. Has your objective for joining the program changed over the course of the program?
Yes, most definitely. I thought I would learn a few neat business processes and that would be that. What I ended up learning was a process to identify opportunities, test their viability and how to plan for fruition. During the course, I attended a panel discussion that included Warren Buffet, Michael Bloomberg and Jack Dorsey (Twitter)–Berkshire Hathaway, Bloomberg and Twitter all started as small companies–they had a belief system and processes that grew them to large companies.
6. Overall, how has the program impacted your business?
From day one of the program, I realized I was doing too much in my business–a typical small business owner trait. I realized that by putting the administrative tasks I needed to do on the back burner, I was affecting my business, particularly cash flow. I advertised and ultimately employed an assistant who now handles billing and collections and my cash flow has increased significantly.
7. Why is this program something other Small Business owners should consider?
Small business owners work too much in their businesses and not enough on their businesses. Most, do not have a solid strategy for growth and tend to be reactive with business decisions. This course will teach you how to gain the time that will enable you to strategize and reflect on the direction of your business.
8. How do you plan to evaluate your future revenue growth progress?
The course taught us that it is important to have verifiable metrics that monitor your growth progress. Sabre now has a live dashboard that reflects the metrics we monitor. Such as; subscription accounts gained and revenue per employee.
9. What was the most valuable lesson learned?
The security systems market is very competitive so we have to wow our clients, not just satisfy them. If our systems cannot provide value above the price the client paid, we just become a commodity and will attract clients that will just buy on price.
10. Do you plan to stay in touch with members from your growth group?
The Goldman Sachs 10k program is renowned for its alumni network. I have been assigned an alumni manager and future events have already been planned. This week, there is an event in NYC that brings together New York alumni for a networking session. This will be my opportunity to meet businesses that have gone through the program and have had time to implement their plans.
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