Collette Murphy, Principal
Ranch & Coast magazine
Ranch & Coast is a luxury lifestyle magazine targeting 35,000 copies each month to the affluent north coastal communities of San Diego. Editorial content covers a diverse array of topics important to its readers’ lifestyles. Every month the editors keep readers informed about what’s happening in their world.
Preparing for Liftoff
Murphy and Stefanko both knew that this strategic plan would be pivotal to their continued success. However, each one had a different vision of what the growth strategy should be. As they discussed their different visions, they agreed on one thing – the referral to CRT couldn’t have come at a better time.
Divide and Conquer
The principals took all of the CRT recommendations to heart and immediately began implementation. “After a clearer division of the operations, we were better able to determine how to allocate resources to each entity, and to project what the return would be,” said Stefanko.
Ultimately, Murphy and Stefanko decided to close the design business in order to concentrate on the magazine. “Our interactions with CRT gave us focus and insight. This ultimately allowed us to successfully build and execute a strategic plan to maximize the long-term value of Ranch & Coast,” concluded Murphy.
- Principals stretched thin
- Divergent principal visions
- Need for strategic growth plan
- Lack of employee commitment
- Clearer separation of the businesses
- Concentrate on the magazine, with its higher long-term value
- Conduct market research for proper focus
- Hire business and publishing consultants to assist with assessment and planning
- Develop a plan to optimize business potential
- Developed separate organizational structures
- Created a strategic plan for the magazine (eventually closed the design firm)
- Conducted reader poll and editorial advisory board
- Hired additional staff and engaged all employees in team building and goal setting
- Changed the name of the magazine to Ranch & Coast to reflect the expanded and growing distribution
- Circulation and revenues up