CASE STUDYTHE WILDEFLOWER COLLECTIVE FINANCE STRATEGY SUCCESS STORY
Website:
https://thewildeflower.co/
Instagram:
@thewildeflower.co
FINANCIAL CHALLENGES BEFORE TBC
TWC’s founders thought they had developed a strategy that reflected their growth goals and provided for their team & clients how they wanted to.
However, when reviewing the numbers, the math didn’t account for everything, and they constantly discovered new areas that were overlooked. These miscalculations significantly negatively impacted their profit margins, which meant their business wasn’t operating at a sustainable level.
FINANCIAL STRATEGIES THE BOUTIQUE COO IMPLEMENTED
The Wildeflower Collective (TWC) had already been working with TBC virtual assistants. Once they shared there were bigger financial challenges in play, our business advisors stepped in to ensure their business was operating & growing sustainably.
PRICING STRATEGY REVAMP
Now that the financial model revealed what was driving profit, we knew we had to reconsider TWC’s pricing structure.
To streamline the process while also fostering collaboration, we proposed several options. Each option included the potential impact it would have on quantitative metrics like revenue and profit as well as qualitative elements like the client’s perception of price.
This way, giving Analisa and her team a holistic assessment of the main factors that could impact their business as they considered their new pricing strategy.
COST & PROFIT PROFILE
By the end of the financial strategy sessions, the TWC team has a clear business profit & cost profile.
Every time they need to decide whether to take on a specific client or invest in hiring a new team member, TWC has a clear process to make smarter, real-time decisions.
FINANCIAL MODELING PROJECT
While it’s easy as a business owner to see revenue coming in, it’s not always clear how that translates into profit.
Our team built TWC an easy-to-understand financial model that helped the founders understand the impact their new pricing model could have on profit of different types of client engagements.
At the same time, the model shed light on their overall business profit margins and how each client contributed towards covering overall costs.
Implementing these key financial models based on their actual business expenses, means they can reliably predict growth. Not only does this make them more confident in their finances, it also makes it possible to grow faster.
THE BIGGEST IMPACT
“Having TBC analyze our financial position and create an accurate strategy has allowed us to operate with a profit margin % in mind that will help us achieve our bigger goals this a game changer, but it also allowed for peace of mind.”
- The Wildeflower Collective
ADVICE TO OTHER BUSINESS OWNERS
“Do it yesterday! If this isn't your area of expertise, having a team that specializes in financial planning that you can trust is the best support you can give to yourself and your business.”
SEE HOW WE CAN HELP YOUR BUSINESS
Let us help you unlock your full potential, by reviewing your business financials & building a financial strategy that supports your goals.