My Newport Partners and I have been scrambling like crazy to launch our new business. We have had some successes and learned some lessons. Here is my One Year Report:
* We have grown from 6 Partners to 11 and expect to grow to 14 over the next few months.
* In New England, we also draw on the 100 Newport partners across the US with deep CEO and board experience.
* All of our NE Partners are working with clients.
* Most business leaders in New England have now at least heard of Newport Board Group.
OK – my mother would now ask what I have been doing. Here are practice/brand building accomplishments:
* I have launched a blog web site where I will post my articles on challenges CEOs and boards face.
* I moderated a program at the Harvard Club on “How Companies Succeed – Why Many Don’t” Go HERE for Exec. Summary.
* My article entitled “Firing Your Best Friend” on the difficulty founders and founding teams have making the transition from initial success to growing to scale was published in the Boston Business Journal.
* The parent company of BBJ just published the article in all 43 of their online city publications across the US. Go HERE.
* I have moderated or hosted several Directors Roundtable programs in Boston on critical issues facing boards of directors.
* At the Medical Device Summit – 2105 in San Diego, I gave the keynote speech on “What Investors Are Looking For In Medical Device Companies.”
Brand building and gaining client visibility are one thing. What about client work? You know who would be asking me that.
* I am currently on the board of directors of 3 technology companies.
* Two of these companies are in the med tech space and one has an exciting software platform in the fin tech space.
* In addition to normal board work, I have helped two of these companies prepare for a new funding round by clarifying their business model and their value proposition to investors.
You are receiving the One Year Report from my startup effort because I want you to contact me when you or one of your colleagues needs the CEO and senior leadership support that Newport provides to clients all over the US. Here are examples of my client and referral conversations from this first year which may or may not have translated to advisory assignments yet but are good examples of what we do.
1. A partner with a prominent Boston law firm asked me if one of my Newport partners had the industry experience to join the board of his client’s firm. A NBG Partner based in San Francisco was a perfect fit
2. A mid-sized accounting firm contacted me when the owner of one of their client firms was trying to decide whether to make a CEO change. The kind of support the owner needed was outside what the accounting firm believed they could provide.
3. An American who splits his time between here and Europe is working with several EU firms who want to come into the US market. He asked me to help develop their plan for coming into the US and to make the connections needed to build their presence in the US.
4. The CEO of a middle market company whose primary investor is a Private Equity firm is trying to break out of a cyclical revenue band. I was asked how I can, in a cost effective way, support his efforts to grow the company beyond the up and down revenue cycle of the last few years.
5. The CEO of a specialized med tech company wants to find an acquisition that will complement their product offering to current clients. Newport is not an investment banking firm or broker dealer, but we do have a wide network of contacts and can be instrumental in helping to design the search effort and identify candidates.
There are many others, but you get the idea. Here is our Newport value proposition.
The Newport Board Group
The Newport Board Group is a national advisory firm providing experience based independent advisory services to CEO’s, boards and other senior leaders of middle market companies. We work with companies as they overcome barriers to growth; prepare for financing & acquisitions; move into new markets; improve internal operations; and transition to new leadership.
If I can help your company or your client’s company, let’s talk.
My best regards. On to year number two!