Business notebook: Hendrickson Business Advisors marks 10 years

Local consulting firm Hendrickson Business Advisors celebrated its 10th anniversary last week with a ribbon-cutting.

The milestone is an achievement in itself, but as CEO Jennifer Hendrickson pointed out, it may be more impressive considering where the world was a decade ago.

"We started the consulting firm in July of 2007, and if you remember, that was about two seconds before the recession hit," she said via email. "We had no idea it was coming, and so we thought we would be doing 70 percent marketing work and 30 percent management work.

"Right out of the gate, we had to shift our focus and concentrate on how to help companies stay in business and survive the downturn. That experience served us well and shaped how we operate today."

Hendrickson Business Advisors provides research, consulting and other services. Since opening, it has launched smaller consulting businesses tailored to particular types of clients.

For churches, there's the Faith Perceptions division. Its Dale Carnegie Training services train employees in useful workplace skills.

For business owners looking to buy or sell a business, Hendrickson Business Advisors' Murphy Business division helps handle sales of up to $500 million.

"Adding those services to the mix has dramatically changed what we do," Hendrickson said. "No two days are the same, that's for sure. Our clients span a wide range of industries and are scattered across the country, so it's very diverse and challenging. We love that.

"One thing that sets us apart is that we don't just swoop in, offer our advice and leave. We walk with our clients and help them implement the strategies we develop. This creates a fun and exciting environment for our team."

She said the key to her business' continued success is "the people we surround ourselves with -- both team members and clients."

But arriving at a working model wasn't always a smooth process, she said.

"Early on in our business, clients would ask us to do something for them and, while it wasn't core to our business, we would do it. We ended up being fairly fragmented as a result, and it spread us too thin," she said. "That experience taught us that we needed to be laser-focused on our core competencies, which are market research, planning, execution, and training."

She said that focus is part of what's helped bolster her firm's reputation for quality.

"Our business model doesn't work without incredibly talented, passionate people who are committed to helping our clients grow and make the very best decisions," she said. "And without fantastic clients who are dedicated to becoming even better, well, we wouldn't be here."

Hendrickson said her goals for the business are basically to stick with what's working.

"We currently own and operate four businesses under one roof, and that's plenty. We're not looking to expand the number of businesses but rather to scale up and find ways to add more value to our clients," she said.

"We also plan to grow strategically with more complex organizations who have more sophisticated needs."

tgraef@semissourian.com

(573) 388-3627