Growing an SME in these times of pandemic, inflation, labor shortage, geopolitical uncertainty and possible recession is not an easy task. The Quebec company Bectrol is getting there, however. And this, at a time when it wants to move from the status of small to medium-sized business. Recipe and advice with Yolaine Benoit, general manager of the company, and Laurent Simon, professor at HEC Montréal.
Posted at 8:00 a.m.
In another life, Yolaine Benoit was a consultant for 25 years. She supported organizations that wanted to grow. Today, she is part of the senior management of the family business which she owns with her brothers and two other shareholders. She puts into practice what she has taught Quebec SMEs over the years. The challenge is daunting, she says.
“We are active in five sectors, all of which are growing,” explains Yolaine Benoit. But because of the pandemic and supply issues, our planning was no longer working. We could no longer deliver and we had financial issues. In addition, we had computer problems that prevented us from having access to our figures. »
PHOTO CATHERINE LEFEBVRE, SPECIAL COLLABORATION
Sylvain Benoit, president, and Yolaine Benoit, general manager of Bectrol
Specializing in automation (from the sale of equipment parts to the completion of turnkey projects), Bectrol has also acquired know-how in charging stations for electric vehicles. Mainly for commercial fleets, but also installations near residential buildings. This sector is on the rise for the SME with 85 employees.
In its growth objective, Bectrol, whose annual revenues reach 17 million, had to rethink its ways of doing things.
In several respects. “For each issue or file, we ask ourselves: ‟What is the best resource to help us?” And not: ‟Whose responsibility is it?” “, reveals Yolaine Benoit.
Instead of endless meetings and other report writing, the Saint-Hyacinthe SME now organizes working groups on specific topics. “Several young people found themselves with initiatives to manage or projects to participate in,” boasts the businesswoman.
Entrust projects to consultants to increase the efficiency of operations; put the employee experience first; do less, but act where the SME has control and power, as well as accept the situation and stop comparing with the “before”, are all changes that Bectrol is putting forward, lists Mme Benoît.
PHOTO PROVIDED BY HEC MONTREAL
Laurent Simon, Full Professor in the Department of Entrepreneurship and Innovation at HEC Montréal
Advice from an expert
Laurent Simon, Full Professor in the Department of Entrepreneurship and Innovation at HEC Montréal, offers three tips for ensuring the growth of a business: looking up, approaching innovation as a normal activity and opening up to better ‘surround.
“We are often told about the strategic focus, mission, plan,” he says. But in an uncertain environment, it is important to anticipate and play the flexibility card. To do this, you have to keep up to date and keep an active watch on your markets. It is necessary to follow the evolution of needs, customers, economic trends, emerging technologies, etc. The more this monitoring will be active and collective, shared and debated, the more it will support the adaptability of the organization. »
Recalling that there is an “innovation deficit among our SMEs in Quebec,” Laurent Simon acknowledges the efforts made by businesses in recent years, as well as the emergence of public programs and support organizations.
All of this is going in the right direction, but we need to change our mindset on the innovation process, which is still poorly understood.
Laurent Simon, Full Professor in the Department of Entrepreneurship and Innovation at HEC Montréal
“You have to be informed and trained in order to take action, in particular to organize innovation in the form of a continuous process mobilizing the various players in the company. This also means that you have to devote time to it regularly, which must be seen as an investment,” continues Mr. Simon.
Moreover, he adds, beyond the great myths of leadership, it is today more than ever impossible to succeed alone. “It is by opening up and surrounding themselves that SME managers will be able to find the resources of knowledge and intelligence for the design, establishment and deployment of their growth strategy. While it is obvious that a competent board of directors is essential, an advisory committee of experts can complement its strengths in a more targeted way. »
And to add: “Discussions with peers in the same industry or related industries, but also with suppliers, thus make it possible to enrich the perspectives on the issues that are experienced by companies. The implementation of a constant dialogue with customers and users is one of the keys to maintaining the relevance of the value offer and its continuous adaptation to the real needs of the market. »