2015 saw over 608,110 start-ups launch in the UK alone. While the role of organisations such as StartUp Britain, the Centre for Entrepreneurs or again the Skoll centre for social entrepreneurship, among others, can’t be underestimated, it is clear that the UK is a fertile ground for entrepreneurs.
Unfortunately, even with the vast amount of free resources and the support of the community, many start-ups will fail. The top 10 reasons behind failure are:
- No market need (42%)
- Ran out of cash (29%)
- Not the right team (23%)
- Get outcompeted (19%)
- Pricing/cost issues (18%)
- Poor product (17%)
- Need/Lack business model (17%)
- Poor marketing (14%)
- Ignore customers (14%)
- Product mis-timed (13%)
We come on board early on to prevent your great idea from being wasted. Our consultants have worked in/launched start-ups and SMEs. We have experienced some of the issues and frustrations you are experiencing right now. We know what it feels like to juggle hundreds of priorities without an exit in sight.
Theriac help entrepreneurs assess their skills and choose the right direction which focuses on optimising existing resources’ utilisation.
Financial models, budget & cash flow forecast
You can transform your business simply by producing professional cash forecast and regaining control over your budget. We can help.
Business planning & strategy
Our clients are often surprised by the possibilities we present to them; by thinking outside the box we present exciting new options:
- Product market fit (re)alignment (Increase chances of success)
- Invoice based finance (Improve working capital)
- Debt crowdfunding (Improve financial structure)
- Business process automation (Reduce costs)
- Comprehensive targets setting (Strengthen accountability)
- Strategic partnerships (Generate cross-selling opportunities)
Fundraising from angel investors and venture capitalists
We also ensure that the whole team is included in the process and that no one is left out. The most crucial part is ensuring to have a “pitch perfect” business case supported by adequate financial projections.
This is the most worrying part for most entrepreneurs needing investments; incoming investors need to suit your business profile. We help find the perfect match through our extensive network.
We ensure that the terms agreed are favourable to both parties. More importantly, we ensure enough funds are raised to guarantee the perfect runway using our fantastic financial projections and a realistic view of what can be accomplished.
Product market fit
A strong business plan requires going beyond intuition and experience, and supporting your idea with fact-based market research. Investors need to have confidence in your understanding of the market, so don’t let yourself down by skimping on research. We can assist you with:
- Competition analysis – How successful are your competitors and why?
- Zero-based budgeting – How can you bootstrap to ensure being extremely lean?
- “Cockroach” operating model– See what investors think of cockroaches.
- Risk assessment – Prevent common mistakes.
- Product review – Define exactly why the world needs your product today.
- Resource planning – Where are your perfect employees? Why would they join?
- Market research– Which market share can you get at what price?
Scenario building and analysis
We know that analysing different scenarios can help your business grow in a virtuous manner. Do you know how your start up will be affected if it follows a linear or an S-curve growth? More importantly do you know which one is more likely? Show to prospective investors you have done your research.