Are you the owner of a successful start-up? And do you have ambitious growth objectives? Bluefield is the specialist in transforming start-up businesses into a successful scale-up.
As a founder you will face very specific challenges when the growth of your business accelerates. Your business was relatively easy to manage when you only had a few employees. But when you move from start-up to scale-up, the increased complexity of your organization involves delegating responsibilities and evolving the organization in order achieve to long-term goals. Making the transition from micromanaging everything as a founder of a start-up to becoming a ‘CEO’ that is in control of a large successful company is not an easy task. Reliable management information is a crucial factor in this transition and that requires a lot more than a nice report or BI dashboard. Reliable information starts at the point of registration and therefore requires excellent end-to-end processes. When the complexity of your organization increases, more standardization will be required in order to stay in control.
Bluefield’s GrowthKit creates the necessary foundation upon which controlled long-term growth can be realized. Optimizing and standardizing processes, professionalizing your finance organization and creating reliable management reporting are the main focus points of our GrowthKit. Every GrowthKit Project starts with a business analysis, the GrowthScan. With the GrowthScan we map the current situation and the ‘to be’ situation. The gap between both is bridged in a pragmatic project plan. You can choose to implement this plan yourself and use the findings of the GrowthScan as a guide or let Bluefield assist you where needed. Additionally, we can offer free consulting hours with one of our experienced c-level advisors. He or she will be able to prepare you for challenges related to managing a large organization.
Interested in what Bluefield can do for you? Click on “Case study Grow Kit” to read or contact us directly.
An Amsterdam-based start-up in business software received a significant amount of venture capital financing. With these funds, the company aims to grow and become the number one player in its industry. As the company grows, an increasing amount of responsibilities will move from the founders to managers and key employees. Additionally, the company wants to open an office abroad.
High quality management information and improvement and standardization of processes, finance and human resources activities are required in order achieve these ambitions. Bluefield has been hired to execute this project and temporarily perform the start-up’s finance activities.
We started with a GrowthScan focused on reporting and processes (Procure to Pay, Order to Cash, Hire to Retire and Record to Report). Bluefield mapped the current situation and the desired situation by interviewing the start-up’s founders and key employees and analysing available documentation. The gap between both was tackled in a ‘hands-on’ project plan based on our experience and knowledge of finance, processes and reporting. The project included:
– Process optimization
– Implementation of control framework
– Implementation of an accounting manual
– Implementation of a planning & control cycle
– Creaton of reliable management information
The individual components of the project resulted in several efficiency gains. Amongst these are the shortening of the month-end closing procedure by 55% and by creating a single source that enables reliable management reporting. The implementation of a planning & control cycle enabled monthly business reviews.
These improvements allowed the founders to shift their focus from running the business to building the business while staying in control of the organization and risks.