Beekeeper: Path to Growth
Beekeeper, a consulting firm comprising Olivier Cohen, Brandon Jacobs, Jessica Drolet, and Richard Wallace, is seeking solutions to drive sustainable long-term growth amidst growing pains. The analysis highlights key issues such as lack of focus on target markets and organizational misalignment, along with internal strengths and external opportunities. Recommendations include focusing on core industries and non-desk employee clients, standardizing product offerings, and developing a marketing plan to enhance corporate credibility. With a strategic approach to aligning targets and operations, Beekeeper aims to overcome challenges and leverage its unique product offerings to fuel growth.
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Presentation Transcript
Beekeeper: Path to Growth HEC Montreal CSC Consulting Olivier Cohen, Brandon Jacobs, Jessica Drolet, Richard Wallace
Introduction Analysis Alternatives Strategy Implementation Conclusion Problem Statement How can Beekeeper realign its targets and operations to drive sustainable long-term growth while resolving its recent growing pains?
Introduction Analysis Alternatives Strategy Implementation Conclusion Key Issues 1 Lack of focus on key target market 2 No clear strategy over tailor-made or standardized product 3 Organizational misalignment and growing pains 4 Lack of corporate credibility for risk-averse clients
Introduction Analysis Alternatives Strategy Implementation Conclusion Key Recommendations 1. Focus on 3 core industries 2. Target non-desk employee clients 3. Standardize product offering 4. Create marketing and communication plan
Introduction Analysis Alternatives Strategy Implementation Conclusion Internal / External Strength Unique product offering Only player concentrating on deskless employee clients Large corporate clients already on the books Weaknesses Loss of synergy due to rapid growth Satellite offices difficult to manage Customizations impeding product development Opportunities Big corporations present highly-potential customers Highly-scalable GDPR driving clients to Beekeeper Threats Multiple highly-popular messaging apps already in use across various industries Lack of differentiation may impact growth Beekeeper well-positioned, but must leverage core strengths to drive growth
Introduction Analysis Alternatives Strategy Implementation Conclusion Alternatives 1. Focus on key industries with customized solutions 2. Focus on key industries with standardized product Leverages resources on key markets Tailor-made solutions to attract clients Simplify operations Specialize in key segments
Introduction Analysis Alternatives Strategy Implementation Conclusion Alternatives 3. Expand to new industries with customized solutions 4. Expand to new industries with standardized product Increases potential market Improves value prop. to clients Opens new markets for growth Simplifies development
Introduction Analysis Alternatives Strategy Implementation Conclusion Decision Matrix Alternative Target key customer base Simplifies product dev. and operations Reduce internal inefficiencies and costs Build corporate credibility with clients Total 1. Custom in key industries 2. Standardized in key industries 3. Custom in new industries 4. Standardized in new industries 1: Low, 4: High
Introduction Analysis Alternatives Strategy Implementation Conclusion Decision Matrix Alternative Target key customer base Simplifies product dev. and operations Reduce internal inefficiencies and costs Build corporate credibility with clients Total 1. Custom in key industries 4 2 1 3 10 2. Standardized in key industries 4 4 3 4 15 3. Custom in new industries 2 1 1 1 5 4. Standardized in new industries 2 3 3 2 10 1: Low, 4: High
Introduction Analysis Alternatives Strategy Implementation Conclusion Decision Matrix Alternative Target key customer base Simplifies product dev. and operations Reduce internal inefficiencies and costs Build corporate credibility with clients Total 1. Custom in key industries 4 2 1 3 10 2. Standardized in key industries 4 4 3 4 15 3. Custom in new industries 2 1 1 1 5 4. Standardized in new industries 2 3 3 2 10 1: Low, 4: High
Introduction Analysis Alternatives Strategy Implementation Conclusion Key Recommendations Hospitality Retail Manufacturing 1. Focus on 3 core industries 2. Target non-desk employee clients Maximize value proposition around this feature 3. Standardize product offering Streamline core development Offer variants to specific industries 4. Implement marketing and communication plan Address client concerns Build brand confidence
Introduction Analysis Alternatives Strategy Implementation Conclusion 1. Target Key Industries Hospitality, Retail, Manufacturing Provide 80% of current revenues - targets main revenue generators Enables greater industry specialization, building operational efficiency and greater corporate credibility Reduced risk of macro-economic trends through diversification
Introduction Analysis Alternatives Strategy Implementation Conclusion 2. Target Key Clients Focus on non-desk employee clients where BeeKeeper product is most effective Increases potential value-add, growing revenue generation capacity Reduces resources spent on low-impact, low-return products
Introduction Analysis Alternatives Strategy Implementation Conclusion 3. Product Standardization Centre development on 1 core product with 3 main variants Pre-engineered options to allow some flexibility for customers Provides an effective off-the-shelf solution improving quality and stability Allows engineering to concentrate on core development
Introduction Analysis Alternatives Strategy Implementation Conclusion 4. Communications Plan Who? Hospitality clients Manufacturing clients Employees Retail clients HR, IT, Procurement What? Simplification Growth focus No longer a startup Aligned with values of collaboration and simplicity Stories on improved rankings Stories on better in-store experiences and higher sales Metrics on higher efficiency and cost reduction Case studies Blog post Social media PR How? Middle manager weekend training Townhall meetings Emails Results to be shared with future investors Better focus Lower costs Lower operational inefficiencies Increased client retention and growth
Introduction Analysis Alternatives Strategy Implementation Conclusion 4. Marketing Plan Clear positioning statement The #1 communication platform for non-desk employees in hospitality, manufacturing and retail. SURVEYS TESTED SOLUTIONS PROVIDER AWARDS METRICS Employee engagement and retention Security, compliance, CSR Market share
Introduction Analysis Alternatives Strategy Implementation Conclusion 4. Marketing Plan Partnerships with mobile device manufacturers Pre-install Beekeeper and sell devices to B2B clients, especially in developing countries Free trial for new clients in 3 core verticals One month, 25 employees Then charge per-user subscription fee Discount on three-year agreements
Introduction Analysis Alternatives Strategy Implementation Conclusion Timeline All numbers in 000 USD # Actions 2 Communication Campaign Content creation Middle manager weekend training Townhall meetings Follow-up emails Define client ambassadors Business development leveraging new content 3 Marketing Campaign Launch new product with free trials and promotions Partnership with mobile manufacturers (pre-installation) Advertising 2018 2019 2020 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Budget 600 200 200 50 100 50 1 1 2 2 2 2 1 2 1 1 1 1 1 1 1 1 1000 400 TBD 600 2 1 1 1 1 2 1 1 1 1 1 1
Introduction Analysis Alternatives Strategy Implementation Conclusion All numbers in 000 USD # Actions 1 Standardizing product offering Assess data to build core product offering Refocus workforce towards 3 core industries (MKT + Engineering) Establish requirements for 3 variants Hire engineers Develop the core product Pilot with new clients Data Analytics + Improvement 2018 2019 2020 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Budget 2020 1 1 1 1 1 1 1 1 2 2 1 1 1 2 1 1 1520 1 2 1 1 1 1 1 1 1 1 2 200 300 1 1 1 1 2 1 1 1 1 1 1 1 1 1 2 Communication Campaign Content creation Middle manager weekend training Townhall meetings Follow-up emails Define client ambassadors Business development leveraging new content 600 200 200 50 100 50 1 1 2 2 2 2 1 2 1 1 1 1 1 1 1 1 3 Marketing Campaign Launch new product with free trials and promotions Partnership with mobile manufacturers (pre-installation) Advertising 1000 400 TBD 600 2 1 1 1 1 2 1 1 1 1 1 1 TOTAL Budget Total Funding (13M) Last round (2017 - 8M) 3,620 28% 45%
Introduction Analysis Alternatives Strategy Implementation Conclusion Revenues Forecasts 2018 10,100,000 2020 2021 12,700,000 Revenues Estimates Revenues Estimates %Revenues on Costs Expected growth on revenues 10,605,000 13,000,000 90% 5% 20% 12,500,000 12,000,000 Total Costs Total HR Costs Employees number Average Salary 11,260,000 7,080,000 13,800,150 9,000,150 15,880,350 10,500,350 11,500,000 118 150 175 11,000,000 60,000 60,001 60,002 10,500,000 Total Other Costs IT Servers Offices (10k/employee) 4,180,000 3,000,000 1,180,000 4,800,000 3,300,000 1,500,000 5,380,000 3,630,000 1,750,000 10,000,000 9,500,000 9,000,000 Revenues Delta 505,000 2,095,000 8,500,000 Additional Revenues over 3 years 4,695,000 8,000,000 2018 2020 2021 ROI 30%
Introduction Analysis Alternatives Strategy Implementation Conclusion Risks Risks Mitigation Loss of customers from standardization Grandfather the customizations into standard product over time GDPR increase complexity Work with regulatory authorities to meet requirements Lack of buy-in from satellite offices Regular executive visits and communication to unify culture
Introduction Analysis Alternatives Strategy Implementation Conclusion Conclusion Reduce exposure to macro-economic trends through diversification of industries 1. Focus on 3 core industries Maintain engineering headcount 2. Target non-desk employee clients Strengthen core DNA of Beekeeper but concentrating efforts on core development Keeping it simple 3. Standardize product offering 4. Implement marketing and communication plan Positive ROI over 3 years
Introduction Analysis Alternatives Strategy Implementation Conclusion Questions?
