When considering a start-up business, you’ll need:
- A great business plan.
- Cash and a ready source of additional funding.
- A motivated team with the right capability, at the right cost.
- Control over outgoings and a good idea of what’s profitable and what isn’t.
- Stamina and determination.
An experienced QR3 finance director at a fraction of the normal cost can help in all of these areas. Read below for a little more detail, or simply complete the form opposite and we’ll be in touch to see how we can help.
Start-up – business essentials
The secret to getting ahead is getting started
~ Mark Twain
Starting a business is a challenge at the best of times.
Getting the basics right is essential to your success.
Questions to ask yourself: What vehicle should I use? company; partnership; sole trader? Should I register with HMRC? When do I register for VAT? Which bank is best for my business? What is my plan? What markets should I target? How quick will I grow? What if it doesn’t go to plan?
A QR3 part-time finance director will help take the stress out of getting the basics right.
Mission – Your businesses purpose
Without a mission, you risk going nowhere – fast!
Having a clear purpose for your business helps to keep it on track. It keeps you focused on the reason you decided to start-up in the first place.
This is why we believe the starting point for any business is to invest time and craft a mission or a purpose.
A part-time finance director works with you on a project basis to help you define your mission. They’ll help construct an effective strategy that will get you there.
A small body of determined spirits fired by an unquenchable faith in their mission can alter the course of history.
~ Mahatma Ghandi
A man who does not plan long ahead will find trouble at his door.
Wise words, and who are we to argue?
It is not the plan itself that is important. It’s about the planning and then the execution. Establishing your company’s values helps to define the types of employees needed to succeed. Doing a market and competitor analysis will help you define what and where to sell. Scenario planning or ‘wargaming’ will identify the risks.
Going through the business planning process is enough to bring focus to your business.
Reviewing progress against the plan regularly is a key factor in the businesses success.
QR3 finance professionals have at least 10 years board experience. They will help to guide you through the business planning process. This will give you the best chance of getting your start-up funded.
Cashflow Forecast, Profit and Loss – all the numbers
Most likely, in a start-up, a cashflow forecast is the lifeblood of the organisation.
With it, you can plan for the lean times and increase your activities when you have the cash.
If there’s a cash shortfall, a cashflow forecast will define how much funding you need.
A QR3 finance director is focused on profitable growth. The will help prevent you running out of cash along the way. A great risk mitigator.
I forecast a disaster many times.
~ Edmund Hillary
Funding – Investors in your business
Almost anyone can be an author; the business is to collect money and fame from this state of being
~ A. A. Milne
It would be odd if our part-time FDs didn’t have experience in raising cash in their previous roles. As full time finance directors, this is part of the day job.
With QR3’s connections in the City, there are more funding options available to our clients. This can take the following forms:
- invoice discounting
- asset finance
We’ll work to find the right solution for our client’s business.
If you would like a confidential discussion about funding, just contact us
QR3’s Ongoing Support
With you when you need us
You’ve pulled it apart and put it back together again.
Now the hard work starts.
When you’re “in” the business it can sometimes be difficult to come up for air. This is why we provide ongoing support in the form of a part-time finance director.
If you need your hand holding, a part-time finance director will measure your success. They’ll help you identify opportunities and lead you to profitable growth.
Every kid needs a mentor. Everybody needs a mentor.
~ Donovan Bailey