We’re growing fast, why on earth would we need any help?
- Background: E3D, founded in 2012, is a fast-growing, successful technology business within the 3d printing market. Back in 2015, the directors realised that the business was becoming increasingly complex and they needed to put proper structures in place to allow the business to grow sustainably. However, they were originally rather sceptical about the value of consultants, so with some reluctance agreed to a recommendation from Innovate UK to meet with Nathan King from AddVantage Strategy.
- Approach: The initial scepticism of the directors to consultants was overcome over time through a staged process that built a collaborative relationship based on trust in Nathan’s competence and character fit within the business.
- Foundation: Built and continually refreshed market & business knowledge to guide both strategy development and plan implementation.
- Strategy: Using the foundation of knowledge, combined a systematic approach and best practice thinking to develop the business and functional strategies, bringing clarity on key initiatives to grow the business.
- Execution: Supported the directors and first-line team to implement, monitor and course-correct planned and new initiatives.
- Business: Supported the directors and first-line team to work through key challenges & decisions through 121s, project meetings & chairing of the monthly board meeting. • “The one-to-one meetings with Nathan have been incredible. They keep you honest to yourself, as well as to others. It’s been great for us to have somebody to report to, a sort of ‘artificial boss’. This element of detachment has allowed us to think as a company, rather than as a collection of individuals.” David Lamb – Operations Director
- Systems & Processes: New business process, new innovation process, new scalable systems (e-commerce website, financial, stock management and customer service) and first ever budget & business forecast. • “It has been the best thing we’ve done to date. Nathan was instrumental in setting up our systems and processes to help us manage our growth.” Josh Rowley – Engineering Director
Outcome from Sept 2015 to April 2017:
- Staff: 7 to 32
- Premises: 2,000 ft2 to 7,000 ft 2
- Revenue: +157%
- Marketing: x17 RoI
- Valuation: +264%