A prestigious event company in the Philippines, Livewire Productions is approaching 14 years this year. Livewire has engineered a system where other companies adopt. It developed a culture that some will not like and some old fellas will do. It has built an image that mostly a mix of passion and art rather than passion and innovation.

On January 11, 2007, Livewire folded the shortest company plan that only took 5 hours. The complan in the past years usually lasted in 3 days. Livewire focused on listing first the problems, identifying possible solutions and strategies, setting the feasible timeline, propose budget and make recommendations and settlements. Managing partners (Ronald Lucero, Martin Jamora, Pogs Mendoza and Benny Cordoviz) agreed on setting goals by having to drive a short-term plan that is more achievable. The management also agreed to make a list of priority, necessary actions for immediate needs, and be business-oriented.For the past years, Livewire had been building its image with its creative-driven belief and brand aid self-imagination. The industry competition has already leaped the level of real business where forces from clients and competitors are derived to succeed.

The bifurcation point has begun and the concept of specialization is beginning to limit the market. It is time to adopt and integrate services that should have been done 10 years ago. Otherwise, the consequence will not be different from being another company whose ideology is a marriage of passion and art, once again.

Livewire set 18 goals in 2007 and I suggested that the goals be achieved one step at a time. The goals were not presented to the staff until December 20, 2007, hours before the company Christmas party started.

Presented are the goals set for 2007.

 

1. Settle at least 50 percent of debt 
2. Move to a new office
3. Hit at least P25M (or US$500,000.00) sales
4. Holiday in America
5. Get an offshore account or partner
6. Buy Ferdie (the company’s visualizer) a new iMac
7. Win at least 3 new clients
8. Keep at least 3 old clients
9. 3-day out-of-town beach holiday
10. Surpass the current average net profit by 5 percent
11. Launch new Livewire website
12. Go wireless
13. Dispose of all junk
14. Settle 50 percent of corporate payables
15. Buy a new laptop for presentation
16. Release in-house project team’s fees and commission sooner than expected
17. Design a new incentive program to all deserving employees
18. Reserve much cash for 2008 projects

How Livewire fared is unique. Ironically, the style of managing a compact organization turns out more effective than what it used to be. The management drives the company without letting the employees know the goals set for the year. Somewhat applied is the idea of not having much corporate culture nor more legalistic and conservative attitude as indoctrinated by some advertising-oriented partners. Out of 5 active partners of Livewire, 3 are advertising ideals, 1 is a hardworking production leader, and 1 is an innovative business and production implementor.  Here are the results:  

• 13 out of 18 goals were fulfilled 
• 3 goals fell short to the expectation
• 2 goals didn’t happen  

 

1. Settle at least 50 percent of debt = 30 percent has been settled
2. Move to a new office = renovated the same office and bought some new equipment
3. Hit at least P25M (or US$500,000.00) sales = more than 100 percent growth rate from 2006 performance
4. Holiday in America = 3 managing partners got the opportunity
5. Get an offshore account or partner = no immediate opportunity
6. Buy Ferdie (the company’s visualizer) a new iMac = delivered in August 2007
7. Win at least 3 new clients = won 8 new clients
8. Keep at least 3 old clients = retain at least 12 clients
9. 3-day out-of-town beach holiday = didn’t happen; swamped with too many projects
10. Surpass the current average net profit by 5 percent= keeps the yearly average net profit
11. Launch new Livewire website = only new email accounts were changed
12. Go wireless = Jurassic Eastern Telecom line disconnected; now using 2 WIFI (PLDT and Globe)
13. Dispose of all junk = mission accomplished
14. Settle 50 percent of corporate payables = almost 75 percent has been settled
15. Buy a new laptop for presentation = delivered on December 29 and unfortunately, cannot be Mac
16. Release in-house project team’s fees and commission sooner than expected = done in settled projects
17. Design a new incentive program to all deserving employees = no new formal incentive program yet but the management gave cash gifts to “early bird” and “5 years of service” achievers
18. Reserve much cash for 2008 projects = the company has more than P3M (US$60,000.00) receivables from clients and reserves at the end of the year