SupChainFinance
This was my own business, providing much the same services as West Mids Finance will provide. Born in 2020, just before Covid, it performed really well for 18 months given the economic uncertainties around Covid and Brexit. Why? Because the concept behind it, and West Mids Finance, is really solid!
The Challenge
To get a new business up and running, to decide what services it would provide and how to market them effectively.
What I Did
Started on 1st January 2020, having picked up my first client (Cassellie Ltd) 2 weeks earlier. Spent 6 months with this Private Equity ("PE") owned, very financially distressed company (loss of sales in Covid), helping to stabilise it and getting cash in to enable its survival. Continued to grow my own business alongside it, attracting 2 more clients (the PE owned Northern Escalators and Powerrun Pipemech), and then later on doing a 2-3 day a week role at Screwfix (who I'd later help to sell
CDSL Group to).
What I Achieved
In the 18 months 01/2020 - 06/2021, I invoiced nearly £400k through this start up business. I provided FD / CFO services to the 4 companies above, invoicing around £200k. I provided lower level finance staff that I employed (Financial Controllers, management accountants) to other companies, invoicing around £130k. I recruited 1 x FD, 2 x FCs and 1 x Management Accountant into new roles through search and selection activities through LinkedIn, invoicing £65k for these 4 positions.
Why did I stop?
It nearly killed me! Covid was a time of great uncertainty, so I took on whatever came my way. And basically bit off too much! I'm now ready to "go again"!