The Business: Provision of mobile asset leasing platform to banks on mobile devices enabling quick straightforward pricing and workflow for finance sales.
The problem : Initially advice was sought on how to grow the business and this led to a change in focus from development of a customer specific product, to development of the wider business.
Support delivered: Early meetings and business plan review, led to a new strategy that required a company restructuring. Ed Cooper and Stephen Foale provided key advice and input at this point to enable this restructuring to take place. The company went on to consolidate its market position and further coaching input from VitalSix helped to ensure the business growth continued and the company was prepared for exit. It was subsequently bought by Sword Group for £3 million.
Future plans: The directors continue to work and manage a division of Sword Mobile and are still engaged with VitalSix for support and training.
Quote: Tom Jones | CTO "The team at VitalSix made a number of crucial interventions into our business that helped us to change direction, grow the business and subsequently secure a successful exit."
Social Retail Group delivers shop floor engagement via training, coaching and monitoring of the operational teams of high street stores. The service supports both operations and the marketing departments of multiple retailers in their ambition to offer exceptional customer service via social media channels.
The challenge: Having secured contracts to supply these services to a small number of multiple retailers the management wanted to better understand the company’s value proposition in order to secure and maintain rapid growth.
Support delivered: Steve Constable worked with the CEO of Social Retail Group to explore the relationship between the customers perceived value of their service and price. This along with the design of an offer that made the customers decision to buy easier, has put the company on track for growth.
Future plans: Stephen Foale and Steve Constable are now working with Social Retail Group’s CEO to develop funding plan that will secure the equity required to take the company to the next stage of growth.
Quote: Pete Doyle | Founder & CEO The support that VitalSix has provided in terms of coaching and business planning has been instrumental in the growth of my company.
Their coaching is derived from their own experiences which I respect and listen to carefully. They are also independent of my board and other stakeholders so their coaching is honest and to the point. Because of the VitalSix team I am now able to move forward with inward investment for scaling up my business. I recommend you talk to them if you are thinking of growing your business but be warned they will also ask you questions that you don't want them to. This is the power of their coaching.
The Business: TrackerSense have developed an IoT based Logistics tracking product suite to cover both low volume, high value assets e.g. medical equipment, and high volume, low value e.g. pallets
The high value asset tracker is a battery powered GPS location tracker with optional temperature, humidity, light and other sensors which allow clients to see in real time the exact position, movement and condition of anything anywhere in the world. The trackers are simply switched on, placed in a package, or freight container and despatched. They immediately transmit their location and continue to do so for 45 days or more. Clients access reports via API or web and can see routes, delays, disturbance, temperature and other conditions.
For the high volume, low value assets, a Hub and Beacon solution has been developed. The hub and beacon trackers use GPS/RFID and Bluetooth and allow large volumes of assets to be tracked within defined areas and networks - think of a postal or carrier network involving multiple depots, retail customer sites and vehicles. A beacon is attached to each asset which transmits data via a hub to our servers at preset intervals when that asset moves. The client receives reports via a dashboard allowing them to locate and manage each individual asset and its environment.
The Challenge: Having successfully helped the entrepreneur to build and then exit a previous business we were contacted again to offer support with a new proposition and to assist with developing the business strategy, financial structures and raising money.
Support Delivered: Starting in 2014 and through the Thames Valley Local Enterprise Partnership Growth Hub project, support took the form of coaching, predominantly supporting development of financial forecasts and structures. The Growth Hub awarded a grant to assist with the development of the software and hardware and this was followed up with light touch guidance, in an advisory capacity. VitalSix’s continued connection to and understanding of the TrackerSense technology, meant that when an opportunity arose they were the first company introduced to Unipart as part of the corporate innovation project with VitalSix. The value that TrackerSense could bring was immediately recognised by the logistics company who introduced them to a major customer, and a paid pilot was initiated through this introduction. More recently, VitalSix has supported the TrackerSense application to raise funds to support the next phase of growth, via the Henley Business Angel network.
Future Plans: VitalSix have the knowledge and infrastructure to support the needs of high growth SME’s and will continue to support TrackerSense with their challenges, when required, as they continue to scale.
Quote: "As a startup in the Thames Valley area, VitalSix’s support has been instrumental in helping us move from an idea, to POC and finally commercialization. They were not only supportive in fund raising and corporate structure, but helped identify and introduce us to new clients too. It was so reassuring to have VitalSix on hand to support us every step of the journey". Wayne Soutter Director at TrackerSense.