Confero’s Growth & Culture Reflect Our Founder, Joann Buxton’s Leadership
If you were fortunate enough to know JoAnn Buxton and are familiar with the company she began, you will easily see that the company’s congenial determined go get it nature, the attention to detail coupled with strong financial management and valuing others are all a reflection of who she was. These are core principals that Mrs. Buxton lived by. She grew both her company and her family with these core beliefs. Now that her daughter, Elaine Buxton, has succeeded her as CEO, these same strengths live on in building both Confero’s legacy and future. JoAnn Buxton’s leadership shaped Confero’s future in many ways.
Confero’s Modest Beginnings
Confero’s journey from a modest startup in 1986 to a thriving, profitable business is a testament to responsible financial management and long-term planning. Its founder, JoAnn Buxton, faced a significant challenge trying to secure a loan for the business at a time when women were not permitted to sign for loans without a male co-signer. Without sufficient funding, the company grew by bootstrapping. Despite these initial hurdles, JoAnn’s determination laid the foundation for the company’s future success.
Confero began as a local company dedicated to training consulting services. Gradually expanding its services to the regional level, the company secured its first national client in 1992, a significant milestone that demanded nearly all of its resources. However, the recession that followed hit hard, impacting both Confero and its major client, leading to reduced spending and underscoring the need for a more diversified client base.
Seeing a Need and Making a Plan to Improve
Once again, Confero’s growth and culture are a reflection of our founder, JoAnn Buxton’s leadership and determination. After recognizing the necessity to diversify, Confero targeted new industries and aggressively marketed to regional companies, ensuring it was not reliant on a single client. As internet access became more available, Confero began building its own software to manage survey results, mystery shopper databases and reporting. This effort, while essential for growth, increasingly consumed the company’s cash flow.
Realizing that Confero was not a tech company, the decision was made in 2003 to move to a third-party provider platform. This shift allowed Confero to refocus on its core business, expand its client base more effectively and benefit from a pay-as-you-go model rather than tying up cash in software and infrastructure investments.
Testing Strategies with National Economic Downturns
The freed-up cash, focus on its core business and growth of widespread internet usage catapulted Confero’s growth. When the next recession in 2008 tested Confero’s financial strength, its diversified client base, spanning different geographies, company sizes and industries allowed the company to weather the economic storm with resilience. Even when one of its largest national clients, a bank, face failure in 2008, Confero’s business remained stable due to its diversified portfolio.
Confero’s Strong Team is a Winning Strategy
A key factor in Confero’s sustained growth is its experienced management staff. Leadership team members, with tenures ranging from six to 26 years, bring invaluable expertise and stability to the company. This experienced team adeptly navigates complexities of procurement from large companies and secures reasonable payment terms through strategic use of supply chain financing.
Confero’s Growth & Culture Reflect Our Founder’s Leadership
Therefore, Confero’s commitment to responsible financial management and long-term planning has been pivotal in its steady growth. By continually adapting its strategies and diversifying its client base, Confero ensures financial stability and sustainable growth. This strategic foresight, combined with a dedicated and experienced team, has transformed Confero into the established, profitable business it is today.
From overcoming early financial barriers to thriving through economic downturns, Confero’s journey exemplifies the power of strategic planning and responsible financial management. With a legacy of innovation, resilience and dedicated leadership, Confero continues to inspire and lead in the customer research industry, proving that sustainable growth is achieveable through careful planning and diversified strategies.
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