In 2007 Keystore took a downturn and went from being a lucrative business that was running hard to finish the year making a loss.  Changes in the customer base had been predicted due to global market shifts and strategies were in place, however there was a lack of planning and direction.  Keystore went from having a relatively small customer base to having numerous customers all with different demands which became harder to service.  Profits went from good to zero and led to some very hard decisions having to be made.

By working through this process we were able to identify the goals and strategies that needed to be achieved in order to save the company, and determine the procedures that were to be put into practice, which continue to be used today.

Our complete restructuring has taken Keystore from a floundering business to a very profitable one.  Our performance in 2012 meant our turnover dropped by 52.78 but despite the drop in turnover, pre-tax net profit has increased 64% year on year!

As a result of our success we have now taken the decision to expand and by the turn of the year will be operating a direct replica Keystore in South West China.

In September 2012 we decided to take Mandy Hildred on as our ActionCOACH and it is the best decision we have made.

Since that time we have:

  • Reviewed our company Vision, Mission and Culture
  • Re-visited our systems and procedures making changes to improve operations
  • Set up regular Team meetings to improve communications
  • Re-structured the warehouse to make it safer and more efficient
  • Visited China to review the opportunities of doing business there
  • Set up a new company and sourced Team members to run the China operation
  • Met with existing customers to determine their level of interest in our China operation
  • Determined our USP’s

By working with Mandy I have become a much stronger leader, with greater confidence to direct and lead the Team.

The Team are all now held accountable for delivering great customer service and business results which has given us the confidence to succeed in new markets.  This confidence is also apparent in the commitment the Team has to the company and the determination to take the business to greater heights.