Savvy Business Limited Case Study

Savvy Business Limited MD drives the business forward while Paper Mountain Solutions handle the engine room

Sherie Griffiths, Managing Director of Savvy Business Limited, had the idea of providing a business to business portal with a difference. With a panel of vetted experts providing advice on various topical themes via podcasts and other media, users could be sure of a unique experience.

As the concept was developed by Sherie, it became evident that a level of seed capital would be required. The website needed to be developed to handle multimedia files and provide search functionality on programmes, topics and members. In addition, a level of working capital would be required to fund the trading activities of the business for a period of time whilst panellists and members were signed up.

Paper Mountain Solutions was approached initially to assist with the writing of the business plan, including detailed analysis of cash flow forecasting based on the discussions and research undertaken by Sherie and the senior management at Paper Mountain Solutions.

During the completion of the business plan, it became evident that in order for Sherie to focus on developing relationships with panellists and members as well as producing relevant content and programmes for the Savvy Business Community, a level of support would be required for administration, telephone call handling and financial management.

The completed business plan, supported with relevant documentation, was submitted to finance providers at the height of the 'credit crunch' during the latter part of 2008. Despite the woeful economic climate, seed funding was secured in December 2008 allowing the Company to focus on its launch in 2009.

Solution Overview

Organisation Profile

Following the hugely successful launch of the Savvy Business Community in May 2009, the Company has continued to grow. With further programmes recorded for download from the website, increased membership and business themed networking meetings, Savvy continues to establish itself as the Business Community to locate the advice you need.

Business Situation

Savvy Business Limited's Director, Sherie Griffiths, spends a large part of her time out of the office in meetings and creating resordings in London for the Business Community website. Given the amount of time out and about, support is required in handling the Company's administration; sales paperwork and dealing with phone calls. As a growing company, a close eye needs to be kept on sales figures against targets and costs against budget.

Solution

• Dedicated team based within Paper Mountain Solutions office.
• Redirection of post to Paper Mountain Solutions office so always dealt with, including payment in of cheques on day of receipt.
• Dedicated telephone line and emails answered in Savvy Business name.
• Drawing up od sales paperwork including contract, input of sales invoices and liaison with customers.
• Vetting of prospective panellists as well as maintaining quarterly contact with existing members.
• Liaison with suppliers, input of purchase invoices, monthly creditors schedule and remittance advices.
• Credit control.
• Quarterly VAT returns and submission of draft accounts to accountant.
• Monthly management accounts and board meeting to discuss company performance.

Benefits

• Improved quality of service delivery
• Range of expertise within a dedicated team
• Year round staffing without need to recruit
• Cost effective alternative to recruiting administrative and financial management team
• Enforced objective review of financial information for decision making and planning
• Freed up time for business growth via marketing and advertising
• Business owner and her team are free to work on the business not just in it....bringing great results.

"The Savvy Business Community was - and still is - far too big a project for me to get off the ground alone. I do ideas - I don't do systems, structures and other background detail which is essential to make those ideas fly. I leave all that to Paper Mountain Solutions.

Having access to a team of people with a range of skill sets, from management to admin, bookkeeping to customer service, I can go on developing my ideas, safe in the knowledge that behind the scenes, everything I don't have time to do, or just don't have the aptitude for, is in safe hands.

Paper Mountain Solutions has been so much part of Savvy, since the very beginning, they are now much more than a key supplier - they are part of the core team - the centre of the Community.

They are also known as the "engine room" - because they keep everything running, so all I have to do is drive."

Sherie Griffths
Managing Director
Savvy Business Limited

For more information about Savvy Business Limited call 0844 371 2941 or visit the website at http://www.speakforyourself.biz/

This case study is for information purposes only. We make no warranties, express or implied in this summary.
Document published July 2009.