Venturity Financial Partners, founded in 2001, provides outsourced accounting, fractional CFO services, and operational consulting to privately held companies. Their mission is to provide clients with financial peace of mind, ensuring accurate and insightful financial reporting. This case study explores how Venturity leveraged The Great Game of Business (GGOB) to achieve remarkable financial success and solidify their company culture.
Transforming Financial Performance with GGOB
Venturity faced a persistent challenge in improving gross margin and profitability. In 2017, they adopted GGOB, a system that empowers employees with a stake in the company’s success. Guided by coach Wayne Whitesell, Venturity implemented company-wide goals and a transparent, consistent game process.
This strategic decision led to significant improvements. Gross margin increased from 37% to 45%, and the bottom line grew by 10% annually. Even amidst the 2020 pandemic, Venturity achieved 9% revenue growth, surpassing $6 million for the first time.
CEO Chris McKee attributes this success to GGOB’s emphasis on teamwork and shared ownership. The system fosters a proactive environment where employees are invested in daily operations and continuously strive for improvement. This has also resulted in a more positive work-life balance for McKee, as he spends less time worrying about the company’s performance. Staff Accountant Justin LeBrilla echoes this sentiment, noting increased confidence in job stability and a deeper understanding of the company’s trajectory.
Navigating the Pandemic with GGOB
The COVID-19 pandemic presented unprecedented challenges. However, GGOB provided Venturity with the framework to adapt and thrive. The system enabled them to proactively address operational uncertainties and maintain their forward momentum. Consequently, 2020 became their most successful year, with 9% revenue growth and an average gross margin of 42.3%.
Chief Revenue Officer Deanna Walker emphasizes the value of real-time financial information and shared knowledge facilitated by GGOB. The system fostered flexibility and new ways to connect, even while working remotely. Furthermore, Venturity transitioned to 20% ESOP (Employee Stock Ownership Plan) ownership in November 2020, further reinforcing the ownership mindset cultivated by GGOB.
MiniGames and Employee Engagement
Despite remote work, Venturity successfully implemented two MiniGames in 2020. “Summer Lovin’,” inspired by the movie Grease, focused on increasing participation in internal events and committees. Another MiniGame centered on enhancing online marketing and social media presence. This resulted in a significant increase in LinkedIn engagement, rising from an average of 5.5% to 15.85%.
Project Manager Logan Clary highlights GGOB’s impact on Venturity’s culture, fostering unity and a sense of shared purpose that extends beyond financial performance.
Future Growth and Continuous Improvement
Venturity recognizes the ongoing learning process inherent in GGOB. In 2021, they prioritized training for their Design Team, known as the Venturity Experience Team (VET), recognizing their crucial role in maintaining the GGOB momentum.
Venturity is also revisiting its Critical Number in light of the ESOP launch and exploring new business lines through High-Involvement Planning. They are committed to a five-year budget and continually refining their strategies.
Marketing Coordinator Tori McLaughlin summarizes the transformative impact of GGOB, stating that it has become a cornerstone of Venturity’s culture, fostering unity, understanding, and a shared commitment to success. Venturity Financial Partners’ journey exemplifies the power of GGOB in driving financial performance and creating a thriving company culture.
