Briggs boss reveals secrets of his success
BRIGGS Equipment CEO Richard Close, who oversaw a tenfold increase in his firm’s profits last year, is offering tips to other businesses about how to prosper during a downturn.
The Cannock materials handling equipment supplier posted profits of £3m for 2011, compared to £300,000 for 2010. Turnover increased by 17% year on year.
Close, who took over the running of the firm in 2005, has taken the company from a loss-making organisation to a profit generator, the latest in four loss-making companies he has brought into multi-million pound profit.
Close said: “Manufacturing and industry in the UK has been through a number of years’ doom and gloom and 2011 was no different. With news on a daily basis about the decline in UK manufacturing, we’ve had to work smarter, taking a more flexible approach in order to ensure the customers’ needs are always satisfied.”
His tips for business growth in tough economic times are based on the measure he implemented at Briggs.
He said: “The key change I made at Briggs when I joined the company in 2005 was a cultural one. I’m a firm believer that a business is successful if its employees are engaged.”
His tips include encouraging employee responsibility and autonomy, having a vision for the company’s long-term future and being single-minded when it comes to customer service.
Close’s plans for Briggs include the launch of the Briggs Academy – a training programme designed to help staff reach their full potential in their careers.
