Accelerating Growth
A Blueprint for Strategic Transformation
by Vern Davenport
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Pub Date Jun 04 2024 | Archive Date Jun 04 2024
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Description
Transform Your Company and Achieve Phenomenal Growth
How did Azurity Pharmaceuticals grow from $30 million of revenue and $5 million of EBITDA to over $500 million of revenue and $200 million of EBITDA in just five years? How did Catalyst Clinical Research transform itself from a startup with eighteen employees and $12 million of revenue into an industry powerhouse with nine hundred employees and $150 million of revenue in just four years? The answer is: they partnered with growth investment private equity firm QHP Capital and deployed The Management System, QHP’s phenomenally successful framework for transforming companies that are at a growth inflection point.
Is your company at an inflection point? Do you see great potential for transformation and growth but don’t know how to make it happen? Transformation is possible. Rapid, significant growth is possible. But you need a blueprint for getting there.
Finding financial investors is not enough. Money is only the starting point. Any investments in your company must be used intelligently and purposefully, or it will just be money down the drain. What you need is a proven methodology for getting your company from where it is now to where you dream of it being. Accelerating Growth describes how The Management System makes that possible.
Advance Praise
"This book should be essential reading for any executive who wants to build a culture of execution in their company. The concepts Vern lays out are simple, but implementation is hard unless you have the right tools. Accelerating Growth provides both tools and inspiration to help you realize the true potential of your organization."
Richard Blackburn
CEO, Azurity Pharmaceuticals
"In my 8th year as the Founder-CEO of a rapidly growing company, I began using the term ‘frustration iceberg.’ It was a simple way of continually referring to the endless opportunity that lay beneath the surface that we just couldn’t quite figure out how to tap into. Yes, we were rapidly scaling but we knew we could scale faster. That is when we dedicated ourselves, our entire Founding, Executive and Senior Management Team to The Management System. I have learned a lot of things in my last ten years as a Female Founder CEO―many by luck, many by pure grit, trial, and error―but one thing I know for sure is The Management System works. This book lays out every step we took to drive The Management System into our organization. Eloquently written, it is your step-by-step guide to get you from where you are now to where your company is destined to be. If your team follows this book, this plan, this methodology―you will cross the chasm and tap into that unlimited potential. It won’t be easy, as change never is, but I can promise you, it works!"
Bethany Bray MRes, MBA
Founder and CEO, AutoCruitment
"Vern lays out what companies need to grow with intent. His proven system enables teams to develop, executive, and monitor business strategies in a continuously changing business environment."
Faisal Mushtaq
Former CEO, Trueveris
"Accelerating Growth is a must read for any founder and/or CEO whose company is at an inflection point and struggling with financial, operational and strategic issues. Vern Davenport provides an easy-to-understand roadmap for implementing a new management paradigm that will revolutionize the way a company conducts its business. By uniting employees in vision, mission and purpose, helping them to better understand functional as well as individual roles and responsibilities, and, last but not least, providing a construct for delegation of authority, Vern’s business tool, The Management System, enables companies to rapidly professionalize and scale."
Ashton Poole
Partner, QHP Capital
“'Results' are the quintessential measure of success for a business. As a management team, it is always a challenge to isolate what truly matters most to drive optimal results. In each of the companies that I have brought the Management System to, the System has proven to be an invaluable tool to drive alignment, prioritize what matters most, and create an efficient, fact-based approach for relentless management focus―all of which directly yield results. The results produced each time have been mighty and allowed us to reach transformational goals."
Amy Amick
CEO, Aspirion
"Business success often depends on a company's ability to be brilliant in the basics. The Management System is ideal for maintaining a spotlight on these few most important measures."
Ben Clark
Customer Service Executive
"Now there is a powerful must-read book that really shows that Private Equity Investment is not just about the financial engineering of companies but can transform businesses into value-creation enterprises to the benefit of all stakeholders. Vern Davenport uses his wide business experience to show how the Management System―which is the essence of the book―works in practice and brings to life, through actual examples, a proven comprehensive methodology for company boards to employ as the path to great success."
Gerry Brown
Chairman, G Brown Associates Ltd
"Accelerating Growth presents a clear and important way of driving strategic growth. I have personally witnessed the power of the System and believe it is a differentiator for QHP and the companies they work with."
Bob Greczyn
CEO Emeritus, BCBSNC
"I often reflect on the years I have been in management, the countless hours I have spent in meetings and think, If only I had read this book sooner. This is a book to highlight, dogear, and read cover to cover."
Jeanne Taylor Hecht
CEO and Chairwoman of the Board, Lexitas
"Accelerating Growth clearly and succinctly lays out the key elements of The Management System that have been at the heart of our growth journey for five years. The Management System itself drives alignment, transparency, and focus across an extended leadership team and in the course to the teams who report to those leaders. I am excited to see those concepts laid out in this book."
Nick Dyer
Chairman of the Board and CEO, Catalyst Clinical Research
"Vern Davenport’s careful and thorough work, Accelerating Growth, is truly groundbreaking. It provides a detailed path to scaled corporate growth and success through management structures and documented processes that are built to last. Key notions such as True North, From-To Chart, Alignment Sheets, and many more are combined into a comprehensive, coherent system that is efficient, effective, and easily made operational. Without any reservation whatsoever, I recommend this captivating and practical text for both an exhilarating educational read and a skill set that you will use for professional benefit."
Sir Dennis Gillings, CBE, FMedSci
Chairman and CEO, GF Management
"I was most impressed by the depth and breadth covered by Vern. The text presents a complete management approach for an ambitious company aiming for growth and scale. Goals about education, delegation, and empowerment are aligned with detailed descriptions of compelling management tools. The book is instructive, rigorous, and practical. I recommend it as both an urgent read and an important study."
Lady Mireille Gillings, PhD, Hon DSc
President, CEO and Executive Chair, HUYABIO International
"I have applied and practiced The Management System in companies ranging from large and publicly traded to privately held and early stage. It always amazes me how the System unlocks the potential of employees at all levels of the organization, no matter how big or small. I have witnessed the C-level, as well as the front lines serving customers, embrace its principles to achieve amazing results."
Matt Jenkins
Partner, QHP Capital
"A clearly differentiating aspect of The Management System is how it forces management teams to assign responsibility and drive accountability to a single function. Whatever the metric―Revenue, EBITDA, the Order Book, Sales Pipeline, On-Time-In-Full delivery, Net Promoter Score―The Management System leaves nothing to doubt. Everyone on the team, and when fully implemented, the entire organization knows who is accountable, and exactly how that accountability will be measured and tracked each month. This clarity unifies and energizes the team because each member is crystal clear about how their specific role and responsibility contribute to the whole."
JV Wulf
Executive Chair, Spectra Medical Devices, LLC
“'You can only execute through your people.' Accelerating Growth takes the tools from Davenport’s Management System and teaches readers how to put said tools into meaningful action. It’s filled to the brim with insightful new ideas, robust illustrations, and an empowering focus on human centricity―especially in middle management. Absolutely worth the read."
Alex Miller
CEO, Synergetics
"Accelerating Growth explains concepts and associated principles that any company can implement and adapt to accelerate and sustain success. Through relatable examples, Vern's engaging narrative uses real-world illustrations of companies at various stages to showcase the sustaining transformative effects of applying the Management System at key inflection points."
Ed Seguine
Former CEO Clinical Inc.
"As an independent board director of ClinicalInk, I experienced firsthand how The Management System aligned the team, focused the work on the top impact areas, and accelerated performance. It truly works!"
Diana L. Nole
EVP and GM, Nuance Healthcare Division
"Accelerating Growth expounds a revolutionary framework for companies and private equity partners to achieve transformational growth on a quest to True North."
Eric Deyle
Global Co-Head, Eaton Partners, a Stifel Company
"As a founder, I've seen firsthand how The Management System has transformed our company, showing that when we combine forces, the result is greater than the sum of its parts. This approach has redistributed decision-making, empowering leaders at all levels and invigorating our middle management. Our collaboration with QHP is not just about investment―it's about jointly constructing a framework for growth and providing guidance while valuing our autonomy.
Embracing The Management System has revolutionized our approach, decentralizing decision-making and empowering middle management. This partnership, a beacon of Vern's wisdom on collaboration, has elevated our growth while honoring our founder-led spirit.”
Dr. Moby Kazmi
Co-Founder and President, COPILOT
"Practical wisdom from an extraordinary business leader, and practical wisdom for driving explosive growth in any business. I’ve personally seen the business transformation unlocked by The Management System, and this book generously shares a detailed blueprint for others to follow. Unlike most business strategy books―grounded in philosophical jargon―this book provides a detailed blueprint for business transformation and explosive growth. I’ve had the privilege of seeing the installation and impact of The Management System firsthand, and Accelerating Growth generously shares a blueprint for unlocking transformation and explosive growth in your own business."
Michael Burke
Google Sales Leader, Independent Director
"Accelerating Growth should be at the fingertips of every leader who is looking for a blueprint to drive clear accountability and rapid transformative results―and The Management System offers that blueprint. As a management consultant, I had the opportunity to put these concepts to work with several of the executive teams profiled in this book and they radically changed their odds of success leading transformations. Thank you, Vern, for sharing how the Management System works in practice and demystifying what it takes to drive outsized value in organizations."
Allison Bailey
Senior Partner and Managing Director, Boston Consulting Group
"As a board observer and early investor alongside the QHP team, I’ve witnessed the power of The Management System in action. Through alignment around mission, vision, and values and full leadership buy-in on True North objectives, QHP and Management transformed Azurity from a sub-scale compounding kit business to a category-defining provider of innovative, high-quality medicines that serve underserved patients."
Michael Barzyk
Global Head of Private Equity, Allstate Investments, LLC
"In my unique position of having worked closely with Vern during The Management System’s development at Misys and subsequently leading value creation in private equity for the past fifteen years, I have witnessed the evolution of these powerful concepts. Vern’s book, Accelerating Growth, brilliantly applies this system to the dynamic landscape of private equity, and having seen its inception, I can attest to the profound impact it can have on improving company performance. This book is an invaluable resource for both management teams and private equity professionals looking to leverage its power in the increasingly competitive realm of private equity."
Cory A. Eaves
Partner, Head of Portfolio Operations, BayPine
"Accelerating Growth presents the foundational principles for growing a business and articulates a management operating system with a set of tools and processes. The book clearly explains how to engage your people, achieve alignment and focus, and employ metrics that matter to ensure your company gets on track and sustains unprecedented growth."
Jeff Kasher, PhD
Pharma Executive, Innovator, Board Member, Mentor
"It is one thing to hear about The Management System, but quite another to see it in action. Working with Vern for years, I have experienced both. Straightforward in principle, The Management System puts businesses forward in practice."
Patrick Jordan
Managing Partner, NovaQuest Capital Management
"The Management System detailed in Vern Davenport’s book is nothing short of transformative. Its emphasis on simplicity and clarity provides a clear roadmap for success, ensuring that everyone is on the same page and aligned towards common goals. The nimbleness it encourages allows teams to adapt swiftly to challenges, staying ahead in today's dynamic business landscape. Its commitment to connectivity and inclusion truly sets it apart, fostering an environment where diverse voices are heard and valued, leading to unparalleled innovation and collaboration. If you're seeking a comprehensive approach to management that combines clarity, nimbleness, connectivity, and inclusion, this book is your indispensable guide."
Frank Leo
Former Pharmaceutical Executive; Advisor, QHP Capital
"The Management System allowed for a true success story within Azurity Pharmaceuticals. Not only did The Management System integration provide clear granular guidelines for how to operate efficiently, but it also allowed an organization to demonstrate its true potential for growth and success. I live by and swear by the Management System in my everyday execution as I have seen the adoption of The Management System transform a company that operates well, into a company that operates flawlessly."
Phillip Shilling
Vice President of Business Operations, Azurity
"The Management System was initially implemented at Azurity on the heels of QHP’s investment, and then subsequently refreshed during each annual management offsite and at each major M&A integration. Accordingly, I’ve had a front row seat at over half a dozen such offsite sessions from multiple perspectives based on the role I happened to hold at the time―initially as a board member, then as CEO, and finally as Executive Chairperson.
The fascinating thing to me is that each time, I was learning and uncovering insights as much as my fellow colleagues who were participating for the first time. I’ve witnessed the implementation of alternative managerial approaches at many companies including start-ups, PE-backed portfolio companies, and publicly traded companies. What sets The Management System apart is an unmatched level of resulting clarity and alignment. Significantly more time and effort (and debate!) is invested upfront to get through difficult questions regarding objectives, roles, accountabilities, and operationalizing of the overall plan, which then pays dividends when it comes to effectively running a company. This entire experience results in a culture of execution wherein colleagues are inspired to collaborate and perform at levels not otherwise contemplated as possible."
Amit Patel
Executive Chairperson, Azurity
"As a new executive joining an organization that had embraced The Management System already―it not only facilitated my onboarding but also provided support for where and how I could positively impact the business. With the combination of True North, Roles & Responsibilities, Tracking Sheets and red A3s, I was able to learn a lot about where the business was focused, how it was being operated, where it was ahead and behind versus target, and what the team had diagnosed as the root causes of challenges and the proposed areas of action. On day one, I was immediately able to engage with supporting those areas of the business, and their action plans―a massive accelerator of my learning and engaging.
As I established my role and looked at how I could best support the Operations unit with scaling, optimizing performance and removing friction in our delivery―I turned to The Management System and replicated it at a lower level in our operational organization. We repeated the whole exercise with middle management, and through the off-site discussions and resultant R&R documents, we resolved gaps and confusion in accountability and performance, locking in on the accountabilities and metrics that would allow us to continue to improve performance and support growth. As we established our monthly cadence of tracking-sheet and A3 review, the middle management recognized that they were now benefiting from the same approach their executives had been using to drive growth and loved that opportunity to benefit similarly in their current role. For me, it also helps them prepare for future executive engagements―another key benefit."
Nik Morton
President and COO, Catalyst Clinical Research