The Big Picture Home Theater Company is a home-theater design and installation business based in Wilmette, Illinois. Owner Patrick McFadden, a sound-system enthusiast, opened the business in December 2003 and quickly built a customer base through customer referrals.
The Big Picture Home Theater Company started as a one-man operation but as new business continued to pour in, one man could no longer handle all the work. Patrick hired several new staff members but was still too busy tending to the day-to-day operations of the business that he could not focus on what was needed to bring his company to the next level. He wanted his company to grow in a manner that would ensure its long-term success. He needed to hire additional staff members, establish more effective procedures and systems, and ultimately chart his company’s future.
Patrick met Brad Farris, principal advisor of Anchor Advisors, at a networking event. Patrick said having a business advisor appealed to him because he thought an outside perspective could help point his company in the right direction. “I wanted to learn about the best practices that worked for other companies so that I could implement them in my company,” he said. He signed on with Anchor Advisors in 2006 to help him tackle the various challenges he faced as a small-business owner.
Using its personalized Business Advisory Program, Anchor Advisors helped The Big Picture Home Theater Company identify its weaknesses and strengths and then devised a plan of attack. One critical area for The Big Picture Home Theater Company was budgeting and prioritizing. An advisor helped Patrick in budgeting upcoming expenses and showed him how to re-adjust his budget when unforeseen costs arose. They also assisted in helping him find eligible candidates for staff positions that he needed to fill.
Today, the company employs eight people, and the business is running smoothly, Patrick said. As the business continues to grow, though, there is much work left to be done. An ongoing project is establishing a company operations system – a systemic way to handle their jobs – that will help make the company run more efficiently. Anchor Advisors is working with Patrick on establishing and implementing this operations system, while continuing to advise him on other aspects of his business.