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Below is our recent interview with interview with The LMC Group’s Kristen Carroll:
Q: Could you provide our readers with a brief introduction to The LMC Group?
A: For the last five years, The LMC Group has provided fractional management and executive services to companies nationwide and in various industries. We are a team of experts in areas such as Sales, Finance, Operations, Marketing, Social Media, Training, and Human Resources, and we’ve worked closely with our clients to help them reach their goals. Some keep us on retainer, while others hire us for specific project work: regardless of the form our services take, we are committed to astonishing our clients. The LMC Group is a woman-owned company.
Q: What kinds of services do you provide to your clients?
A: When we launched our company, human resources, business development, and operations services were our most prolific offerings. These services are still in high demand, but over the years we have added social media, creative services, public relations, MBTI services, customer service, mergers and acquisitions, and finance to our suite of services. The quality of our team has been the key to our growth. Each member is completely engaged and self-motivated to enact our vision. Observers are amazed at our visibility—just about everyone on the team presents or lectures at local, national, and international events. The entire team creates content based on our areas of expertise—we are in high demand for our blog posts, journal articles, webinars, and training.
Q: What is the biggest challenge you’ve faced in launching your business and how did you overcome it?
A: Our biggest challenge has been the resistance of some smaller businesses to invest in the solutions we offer. We always ensure that we will either earn a company more than they spend with us or save them more than they spend with us. Still, many small businesses can barely make payroll, so when it comes to investing in their future, it is hard to make that a priority, even though that investment is essential to growth. It’s like the business version of Maslow’s Hierarchy of Needs: if they can’t keep their lights on, it’s hard to think about strategy. However, we have been very creative with our pricing models and service offerings so we can overcome this challenge.
Q: What are your plans for the future?
A: Five years from now, we anticipate that our company will have grown by 100% in terms of workforce and well over 100% in terms of revenue. We have recently added a payments processing arm to our consulting services, and we believe that our unique approach to consultative merchant services will be very well received. We also see great demand for our finance, recruiting, social media, and public relations offerings specifically. We believe that our industry reach will be broader than it is today. We may have as many government clients as we have business clients and will increase our number of non-profit clients as well. We will continue to innovate the ways we provide services:
• Automated solutions such as the self-service HR option we currently provide
• Training videos and modules—training from our consultants is in great demand, and we can provide it to many more organizations through videos and online resources
• Multiplying our access points to increase our availability and leverage economies of scale
• Releasing targeted apps that we currently have in the works, such as ones related to our payments processing arm, as well as an HR app and an MBTI app.