Relationships Are The Key To Success
Middle market companies make up roughly one percent of all businesses in the United States, yet account for more than 30 percent of the Gross Domestic Product (GDP). With such a high level of influence on the economy, the health of these companies during COVID and now post-pandemic, matters greatly to the country’s overall stability and economic recovery.
We are happy to report that many of our clients today are thriving as we come out of the pandemic. One of these success stories is Reliant Group, Inc. Not only did Reliant Group successfully navigate through the pandemic and supply chain challenges, but in 2022 they have grown in excess of 40%.
Here is Reliant’s story.
Reliant Group was founded by CEO Scott Nguyen in 2004 initially as a staffing company supporting the employment needs of its customers. As their customers’ needs grew, Reliant expanded their products and services to meet new demands. They transitioned away from staffing to become a full-service facility management and IT support company. This new business focus helps companies design and implement workplace solutions for a variety of different types of office/commercial spaces.
In early 2018, Scott hired Jesse Perbix to join the team as President to help manage the growth and bring additional leadership expertise to the company. Jesse is a serial, experienced entrepreneur that Turning Point has worked with for over a decade with several of his companies.
When COVID hit in March of 2020, Scott and Jesse knew immediately that it was going to have a significant impact on their business as offices were closing and people were transitioning to working from home.
They also knew they had a strong team of committed employees and were dedicated to keeping the core team together. They quickly began to strategize a plan to keep those key employees working by focusing on the future of the business. From the beginning, their guiding principle was to communicate often and honestly. First, they moved to deeply cut all non-essential costs. Government COVID-relief programs helped offset their reduction in revenues and allowed them to keep everyone employed. Knowing the pandemic would not last forever, they pivoted staff to internal projects with an eye on the future of the business, positioning themselves to move forward when the shutdown was over.
Scott and Jesse kept in close contact with their customers who were also feeling the pain of the COVID shutdown. They helped clients carefully navigate through the crisis, providing design solutions for modified work environments that allowed essential staff back in the office. This commitment to their employees and their focus on helping customers weather the storm kept key relationships, such as Alaska Air, strong and ready to grow out of the pandemic.
As Scott and Jesse analyzed the business, they recognized a need for easier access to new and used office furniture. They purchased Ducky’s Furniture, an iconic Seattle Company, and entered the business and office furniture space. This combination of workplace solutions, direct access to furniture, and strong employee and customer loyalty has set them up for the best year in the company’s history.
As they look to the future, they see a profitable growth pattern combined with more opportunities to purchase other companies in their space.
Turning Point was founded in 2009 in Seattle, WA and has worked with over 500 companies on the West Coast. Turning Point brings financial expertise and operational improvements that improve cash flow and increase profitability for their customers. Turning Point strives to be the premier Financial and Strategic Consulting firm and Executive Search partner for businesses along the West Coast. Turning Point will always focus on creating an environment of growth and opportunity for our consultants so that they can help redefine the role of the CFO in the middle market.
