Last month, in Orlando, Florida, 90 people across Lumine companies gathered for the inaugural Strengthening Summit. The summit was created to connect new acquisitions to leaders within the Lumine ecosystem, to hear first-hand the positive impact of utilizing Lumine Group's Playbook, and to learn from our best practices. Attendees included individuals from newly acquired companies and from companies who have been with Lumine for multiple years, those who are seen as experts in their field.
.png?width=400&height=267&name=MicrosoftTeams-image%20(19).png)
For 2.5 days, the group met for a series of sessions, workshops, case-based activities, and of course, networking. With many meaningful connections made along the way, leaders attended sessions led by a range of domain experts, and participated in case-based workshops to gain learnings they can immediately implement in their day-to-day.
Upon joining Lumine Group, companies gain access to the Lumine Group Playbook, a living document containing 250+ best practices for strengthening and growing software companies. The Playbook was built over years of acquisitions and continues to be updated as new companies enter the Lumine ecosystem and new learnings develop. The Playbook is filled with templates, frameworks, and case studies, meant to provide business leaders with the education and resources they need to strengthen their company performance.
Below, we share a few key themes discussed at the Strengthening Summit.
Strengthening a company starts with the right measurement.
At the summit, the majority of the event was broken into three key departmental tracks: Research & Development, Professional Services, and Recurring Revenue. Individuals would attend tracks based on their department led by experts within their sister companies. The content within each track was hyper-specific to the department, but one theme was consistent: measurement. Understanding how to properly identify KPIs, how to best organize departments, set up reporting structures, and more, is the first crucial step to driving departmental success.
While companies always have virtual access to the templates and reporting structures needed to set this up, the ability to connect in person and hear first-hand how the Playbook tools were able to contribute to understanding measurement was key.
At Lumine, you’re never alone.
.png?width=400&height=267&name=MicrosoftTeams-image%20(18).png)
As part of Lumine, companies have instant access to a network of leaders across the portfolio. The ability to connect with others in similar positions, facing similar challenges as you, has proven to be extremely valuable.
“The energy at the summit has been overwhelmingly encouraging,” said Jeff Power, VP of Managed Services at Lifecycle Software. Jeff has been with Lifecycle for 8 years, and since Lumine acquired the company in 2020, he has seen the best practices at work and the positive results they’ve brought to the organization. He is attending the session as a session leader, where he is sharing first-hand his experiences implementing the best practices.
“Our sessions are filled with discussions around real-life scenarios we are all facing as leaders within our software companies," said Jeff. "The Lumine network, the Playbook, is here to help you work through those challenges. Over the past few days, the ability to exchange learnings together is incredibly helpful. Being here is a reminder that at Lumine, you are never alone.”
Success in strengthening is driven by champions.
.png?width=400&height=267&name=MicrosoftTeams-image%20(22).png)
As a business leader or department head, you are responsible for motivating and inspiring your team to drive results.
You need to be the champion. A champion is someone who can motivate and inspire a team so that individuals can find success within their roles to drive collective wins.
The summit was created to ensure all leaders have the knowledge, resources, and tools to be successful. It is our priority to empower leaders to achieve their goals and drive their companies forward. When a business leader or department head feels confident in their abilities, that confidence translates to a mentality felt throughout a team. It is then that a business leader or department head transforms into a champion.
Backed with the knowledge to succeed, a champion is all about unifying a team, being accountable, and empowering individual success that contributes to the collective goal.