Grays Clip needed an accountancy firm with a difference. The project required wasn’t just about doing the end of year accounts, but we needed a company who understood what information we needed to gather and produce for a sound model that would stand up to rigorous examination by potential investors. With the background that Niall and Jacqui had, we felt they were ideally placed to be able to provide the specific help we needed. The great thing about the model which Nuvem9 produced for us was that it was so easy for me to tailor it as I moved forward with the business plans. The model wasn’t set in stone and all I needed to do was change a price in one place and the whole model was adjusted accordingly. It was invaluable for trying out different sales prices and costs of the product as it allowed me to immediately see the impact of changing costs and prices.
At the moment we’re still in the pre-revenue stage but even at this point we know what price changes the business can sustain both in the selling price and the cost price. The approach which Nuvem9 took was ideal. It let us see what investment we needed to get off the ground and to see any cash flow implications.
The need to present Smart Online Ordering, as a viable business opportunity to investors was an essential ‘next stage’ of the journey. A professional business plan, complete with financial business model, would establish Smart as a business with the right credentials for investment and future growth. The process of writing the business plan was undertaken with precision. After consultation with Smart the team at Nuvem9 began to build a new business model and plan. Their understanding of Smart as a business and the online ordering market enabled them to produce a highly polished and professional plan. We presented this with confidence to many prospective investors. For a first round seed investment this document was an excellent piece of work. It had the requisite detail of financial projections, staffing, geographical markets, etc. presenting Smart as an exciting, attractive and viable investment opportunity.
The outcome was a blue print to take the business forward over the next number of years. From staged planning which included the production of an effective roadmap to the calculations required to determine investment, the importance of this document cannot be underestimated. The effort required was immense but the end product was a document of quality. To be able to calculate the runway to pre investment and how much time we had to work with Techstart and others was essential information to progress the business both financially and logistically. Nuvem9 provided this detail.
A good business plan can and should evolve. The Nuvem9 approach produced a perfect business plan. – one that is flexible enough to take Smart Online Ordering towards the success it will soon become.