Solutions
Helping you make the right decision.
FaithCo also provides consulting services to those business owners that do not wish to sell their business but is need of a turnaround expert.
We acknowledge that having a distressed business can be a complex and emotional decision for business owners to seek help. However, we firmly believe that such a decision presents an opportunity for a fresh start and renewed growth.
At FaithCo, we approach this process with empathy, understanding, and expertise, guiding business owners through every step. Our unwavering commitment is to treat every business and its owners with the utmost respect, care, and confidentiality.
The FaithCo approach.
Strategy
When seeking FaithCo to assist in the turnaround of a business, we review every single aspect of the subject business.
So many times, we have found that the biggest failures are broken down into two approaches: Leadership and Theft.
Our primary objective is to assist businesses in navigating through their difficulties and positioning them for future success.
By leveraging our extensive experience and expertise, we work closely with business owners to develop tailored strategies that address their unique challenges.
We firmly believe in the power of collaboration and actively seek to forge strong partnerships with the businesses we engage with.
FaithCo is deeply committed to building strong and enduring relationships with businesses and investments at every level.
Our management team is resolutely focused on identifying distressed businesses that can be transformed through a change of approach, thereby creating valuable assets.
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Execution
In the contemporary business landscape, a significant challenge faced by businesses is the need for swift and effective execution. In contrast to the conventional emphasis on business plans in modern university teachings, the reality is that these plans often fall short when it comes to facilitating quick decision-making. The critical question arises: What happens when a business encounters unforeseen challenges that haven't been meticulously outlined in a business plan?
Another major hurdle in business execution lies in the absence of a clear direction for employees. Without the necessary tools and effective leadership, businesses struggle to operate seamlessly. Empowering employees with the resources and guidance needed for the job is crucial in transforming a business into a well-oiled machine. Recognizing the importance of empowerment, we understand that employees who feel empowered in their roles consistently exhibit superior job performance.
Addressing another common execution issue, we often find that crucial tasks are either overlooked or lost in the daily shuffle of operations. At FaithCo, we advocate for the implementation of a guiding principle known as OHIO, which stands for "Only Handle It Once". Embracing this approach empowers both employees and business owners to enhance their daily operations significantly. By ensuring that tasks are dealt with promptly and efficiently, the OHIO method fosters a more successful and streamlined approach to managing business activities.
Data Driven Results
At FaithCo, where we understand that distressed and failing businesses are more than just numbers on a spreadsheet. In the world of business, data is crucial, but it only tells one part of the story. We go beyond the surface, delving deep into the underlying issues that contribute to business failure.
At FaithCo, we believe in a holistic approach to business recovery. While others may focus solely on the figures, we recognize that success or failure is often rooted in a complex web of factors. Our team of experts is dedicated to uncovering the true challenges that your business faces, addressing the issues that may not be immediately apparent in the data.
We understand that every business is unique, and there is no one-size-fits-all solution to turning things around. That's why we take the time to thoroughly analyze your business, identify key pain points, and develop tailored strategies for recovery. Whether it's operational inefficiencies, leadership gaps, or external market pressures, FaithCo is committed to addressing the root causes of distress.
Don't let your business be defined by numbers alone. Trust FaithCo to provide comprehensive solutions that go beyond the data, bringing clarity to the complexities of your business challenges. Let us guide you towards a path of sustainable growth and success.
Client Stories
At the heart of our business philosophy is a commitment to saving struggling businesses through a tough love approach. Much like industry titans Jon Taffer and Marcus Lemonis, Dale Slycord believes in a no-nonsense, results-driven strategy that addresses the root issues hindering a business's success.
Dale's hands-on approach involves a deep dive into the challenges faced by distressed businesses. In Dale's own words, "I don't just analyze the numbers; I get to the core of operational inefficiencies, leadership gaps, and market dynamics that contribute to the struggle. With a keen understanding that every business is unique, I tailor our solutions to the specific needs of each case."
The tough love approach means making the difficult decisions necessary for real transformation. It involves confronting uncomfortable truths, implementing strategic changes, and pushing for accountability at every level. While it may be a challenging journey, the ultimate goal is to lead businesses towards sustainable growth and success.
Much like his role models, Jon Taffer and Marcus Lemonis, Dale is driven by a passion for rescuing businesses from the brink and guiding them towards a brighter future.
If you're ready to face the tough realities and make the necessary changes, we are here to provide the support and guidance needed to turn your struggling business into a success story.
Client: Motel 6
Tasked with a failing Motel 6 from a dear friend, Dale and his team stepped in with solutions and not excuses. After identifying that the General Manager was employing his family, and the trio was stealing cash payments.
Year: 2023
After looking at the expenses and payrolls, Dale instantly knew something was a miss. After doing some digging, the FaithCo team was able to find the culprit and how the funds were being stolen.
Industry: Hospitality
the staff was fired, new hires with great industry experience, with bonuses being allocated to the staff, and new processes being implemented, the money pit was successfully eased..
Client: WashNow
Dale Slycord purchased a heavily distressed retail laundromat from the operator for a mere $1, and within the first month, completely transformed the business to a successful store with multiple revenue sources.
Year: 2020
Not looking at only the four walls, Dale created a hospitality laundry service program to service hotels, event centers, and eventually added other commercial clients to the customer base to increase the revenues.
Industry: Retail
As Dale said "When I bought the business, I knew with the other laundromats near, I had to do something outside of the box, thus picking up and dropping off wash-dry-fold and dry cleaning orders that increased the business 100x within the first 30 days"
Client: Bonham Exchange
The Bonham Exchange in San Antonio was a very dire and distressed nightclub that Jose Cordero worked at. The controller of the Bonham, had been abusing the fiduciary responsibility to facilitate stealing large sums of money, virtually bankrupting the business.
Year: 2017
Dale Slycord immediately jumped into action whehn Jose and his fellow employees could not cash thier paychecks, successfully turning the Bonham around in less than 30 days, thus saving an almost 40 year old brand.
Industry: Hospitality
Dale realized very quickly the issues that had almost bled the Bonham Exchange empty. When Dale stepped in, the club had less than one week of life remaining, but, today, the venue is doing well and has stayed in the position that Dale took the business to for success.