Strategic Recommendations for Beekeeper's Sustainable Growth
Beekeeper, a successful startup, is advised to restructure, focus on core industries, enhance credibility, and prioritize security and innovation to compete effectively. Recommendations include optimizing operations, increasing workforce, improving relationships, and strategic sales targeting. The plan aims to strengthen Beekeeper for sustained growth through innovative features and reputation building.
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Presentation Transcript
Beekeeper Beekeeper: growing to bee the best Amanda Rushton Jesse Prent Jonathan Faerman Winnie Hu JMSB Consulting
How does Beekeper transition from a successful start up to a sustainable and dynamic business? Structure Product Growth
Recommendation JMSB Consulting
Recommendation Analysis Alternatives Implementation Financials Restructure and retrench as key player in core industries Restructure for optimized ops Increased engineering workforce Internal relationships communication and compensation New HQ in Zurich Sales via customer engagement Sales team to use strategic targeting and data-driven approach Better relationship management from Account Managers Reputation building through data-driven content Position for sustained growth Focus on core industries now, banking in medium term Innovation focused on security, features, and usability Test new features internally Our plan will fortify Beekeeper while enabling sustainable growth
Analysis JMSB Consulting
Analysis Recommendation Alternatives Implementation Financials Beekeeper not equipped to compete with the biggest players Credibility Whatsapp Slack Beekeeper Breadth of Industries
Analysis Recommendation Alternatives Implementation Financials Beekeeper not equipped to compete with the biggest players Credibility Whatsapp Slack Beekeeper Breadth of Industries Focus on few industries where credibility is easier to win
Analysis Recommendation Alternatives Implementation Financials Beekeeper not equipped to compete with the biggest players Security Whatsapp Beekeeper Slack Staffbase Red e App Crew Tailored Solutions
Analysis Recommendation Alternatives Implementation Financials Beekeeper not equipped to compete with the biggest players Security Whatsapp Beekeeper Slack Staffbase Red e App Crew Tailored Solutions
Analysis Recommendation Alternatives Implementation Financials Beekeeper not equipped to compete with the biggest players Security Beekeeper Whatsapp Slack Staffbase Red e App Crew Tailored Solutions
Analysis Recommendation Alternatives Implementation Financials Beekeeper not equipped to compete with the biggest players Security Beekeeper Whatsapp Slack Staffbase Red e App Crew Tailored Solutions Seize opportunity in offering secure custom solutions, with sights set on banking industry
Analysis Recommendation Alternatives Implementation Financials Beekeeper needs a better way to acquire and retain clients Sales force over-promising Credibility Engineering team under- delivering Client Needs Tailored Solutions Relationship Management Security / Compliance Credibility erosion
Analysis Recommendation Alternatives Implementation Financials Beekeeper needs a better way to acquire and retain clients Sales force over-promising Credibility Engineering team under- delivering Client Needs Tailored Solutions Relationship Management Security / Compliance Credibility erosion Focus on a better-equipped data-driven sales force and sustained follow-up
Analysis Recommendation Alternatives Implementation Financials Current management structure is preventing Beekeeper from realizing potential New layer of middle management creating new problems Firm Infrastructure Management Too few engineers HR Lack of office space for growth Ops Technology Standard Operations Marketing Follow-Up Complexity affecting productivity Credibility remains a challenge for acquisition Deal renewals uncertain with changing management Challenges delivering on sales team s promises
Analysis Recommendation Alternatives Implementation Financials Current management structure is preventing Beekeeper from realizing potential New layer of middle management creating new problems Firm Infrastructure Management Too few engineers HR Lack of office space for growth Ops Technology Standard Operations Marketing Follow-Up Complexity affecting productivity Credibility remains a challenge for acquisition Deal renewals uncertain with changing management Challenges delivering on sales team s promises Restructure and implement communication tools to improve operations
Analysis Recommendation Alternatives Implementation Financials Current management structure is preventing Beekeeper from realizing potential Clients demand reliable, tailored solutions Poor communication between ops and sales Overly complex internal structure Increasing focus on security No sustained client follow-up Lack of engineering workforce Opportunity in custom, secure platforms Reputation / credibility at risk Restructure for improved efficiency
Analysis Recommendation Alternatives Implementation Financials Current management structure is preventing Beekeeper from realizing potential Clients demand reliable, tailored solutions Poor communication between ops and sales Overly complex internal structure Increasing focus on security No sustained client follow-up Lack of engineering workforce Opportunity in custom, secure platforms Reputation / credibility at risk Restructure for improved efficiency Restructure and implement communication tools to improve operations
Financial Analysis JMSB Consulting
Financials Recommendation Analysis Alternatives Implementation Send Strong signals to the market to ensure a proper valuation Funding rounds 14? Contract renewals? 8 Strong management? 5 1.5 Innovation? Convertible Shares Seed Funding Series A Next Founding Round Realign the structure to sales and technology
Financials Recommendation Analysis Alternatives Implementation Send Strong signals to the market to ensure a proper valuation % of Engineers at Beekeper Engineers 13% Engineers to Support ratio is bad Support 87% Create more engineering positions to foster agility
Alternatives JMSB Consulting
Alternatives Recommendation Analysis Implementation Financials Mature competitors play in diverse industries; internal organization to be prioritized Rapid Growth Targeting 15 industries when revenues only come from 3 Using funding to grow exponentially Strategic Focus Internal Organization Operations Lack of engineers Failure to meet deliverables turning affecting company s credibility Market Risky Growth Customers want a risk averse company Beekeeper needs to refocus on core industries
Alternatives Recommendation Analysis Implementation Financials Compete in industries where your reputation is solid Retrench in Hospitality, Manufacturing, Retail Reorganization Focus on Hospitality Criteria Sell Beekeeper Growth Innovation Feasibility Smoother operations will build your credibility and position for sustainable growth
Alternatives Recommendation Analysis Implementation Financials Risks can be mitigated! Risks Mitigations Contingencies Funding does not go as planned Seek partnerships Sell Beekeeper Clients leave Beekeeper due to lack of internal advocates Invest in account management training for better relationship management Offer discount packages Develop new talent acquisition and retention initiatives High internal turnover rate Increase long-term bonus structure
Implementation Plan JMSB Consulting
Implementation Recommendation Analysis Alternatives Financials Implementation Plan at a Glance 2018 (Q3,Q4) 2019 2020 2021 Mandate 1 week onboarding Restructure for optimized ops Hire engineers Reassess roles Hire acct managers KPI-based bonus Use own platform New Zurich HQ Sales via customer engagement Develop sales deck Multi-channel sales and marketing: trade shows, talks, universities, digital, content Standardize client journey Innovation: integration, wearables, blockchain, video meetings Position for sustained growth Enter banking Retrench 3 core industries Apply funding: $13-24m Internal issues must be addressed in next 12 months
Implementation Recommendation Analysis Alternatives Financials Internal restructuring for optimized operations Engineering 25% engineers Employee Experience Dashboard & Analytics Security & Integration Innovation Hire top talent from universities Sales, Marketing & Engagement Reassess current roles and responsibilities Hire internally Account Managers Sales Marketing Realign the structure to sales and technology, while embedding strong values
Implementation Recommendation Analysis Alternatives Financials Change must be driven from the top-down Clear message: In face of rapid growth, Beekeeper is still a community Use Management office hours Beekeeper internally Call to action: Bee engaged! Mandated week-long onboarding KPI-based incentive program Outcome: Internal alignment of goals and values Happy and motivated employees An aligned organization is required for a sustainable future
Implementation Recommendation Analysis Alternatives Financials Employ comprehensive customer engagement to increase sales and lower churn Account Manager Marketing Sales Leverage EO partnership to publish white papers Data-driven sales deck: case studies, current product knowledge Standardize client journey: Onboarding, monthly calls, quarterly reports, customized Publish digital content on The Buzz blog Target junior executives via LinkedIn: underserved segment Provide support, dissect analytics Host webinars for current/potential clients Trade shows, talks, university freebies Proactive upsell and contract renewal process Use Big Data A successful customer journey builds trust, reputation and value
Implementation Recommendation Analysis Alternatives Financials Continue innovating to strengthen position as key solutions provide for core industries Incoming messages from other platforms/apps Integration Check messages from smartwatch Wearables Blockchain Security and user authentication Video Live and recorded video meetings Internal A/B testing, phased roll-out Offering latest technology will keep your competitive buzz
Implementation Recommendation Analysis Alternatives Financials Focus on market penetration in core industries Hospitality Retail Next funding round: $13-24 million Starwood Hotels Costco, SwissAir Data-driven application Manufacturing Banking Volvo ING, Japan Net Bank Position for sustainable future growth by becoming a trusted key player
Financials JMSB Consulting
Financials Recommendation Analysis Alternatives Implementation Invest heavily in engineering, sales and internal structure Engineering team $2M (+10 engineers, 25% of workforce) Innovation team $1M (+5 engineers) Marketing initiatives $1M (Advertisement, trade shows) New Office Space $1M (Open office space) Total investment: $5M Invest heavily in engineering, sales and internal structure
Financials Recommendation Analysis Alternatives Implementation Long-term revenue split adds a new core vertical Increased revenues & Reshuffle marketing priorities Others New Vertical 5% Banking 15% 20% Others Core Verticals Core Verticals 80% 80% Banking Refocus sales and innovation to target new banking industry and core verticals
Financials Recommendation Analysis Alternatives Implementation Invest heavily in engineering, sales and internal structure Funding rounds Funding rounds Optimistic: Improve Clients + Structure 24 3X Conservative 13 1.6X 8 1.6X 5 3X 1.5 Convertible Shares Seed funding Series A Next funding round Invest heavily in engineering, sales and internal structure
