Successful start-up shows how it can be done...

Starting out on a new business venture is fraught with challenges. Having sought the support of their bank with a small firm loan guarantee scheme this two-man start-up could have been dashed on the rocks before day one.

A business plan in which the figures do not add up is not the way to impress your lenders. Thankfully the bank suggested seeking some help from WG Chartered Accountants. Mark and Rob worked with the WG team and put a strong business case together to secure the initial funding  and get the business off the ground.

With the bank’s blessing they invested in their first Terrier Rig (2001) and launched their ground investigation business – drilling holes and reporting on ground conditions to their customers across the country.

Mark and Rob enjoyed immediate success. And steadily grew the business thanks to their focus on really looking after their customers. From start up to profitable annual turnover of £628K by end of 2004 was a great start.

They also had a vision of where they wanted the business to go. And in 2005 committed to a monthly  BoardTalk™ meeting because they wanted to ramp up the growth and achieve their end-goals.

Since 2005 the business has more than doubled in size with profits to match. They now employ a team of 26, operating 7 rigs and have plans for further growth over the next 5 years.

Forget big words and grand gestures, this is about getting stuff done...

Shouldn’t every business take stock every so often? Doesn’t it make sense to have someone ask you awkward but relevant questions about your business? It does if the goal is to decide on right-action to secure the business future and set yourself up to grow.

Monthly strategic planning sounds grand. But talking about exit strategy, talking about business growth options and talking about the best business premises option is simply sound business practice.

And that is what CC GROUND has done.

These monthly strategic discussions have, amongst other things, helped CC GROUND:

• · Decide on the best new  rig options and the best ways of financing these
• · Looked at the various premises options and sites as they have outgrown the current site
• · Cash management and effective tax-planning to facilitate the purchase of freehold premises

It is also an opportunity for the owner/directors to commit to the key actions to secure the existing business and help it thrive in the future. This monthly review also means the directors can be held to account for doing what was agreed.

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“We missed one of the monthly reviews and it felt like we were lost at sea without a rudder. BoardView is a vital part of this businesses success as they help drive us all forward. They help us make the big decisions better. And they help ensure stuff gets done. They are vital.” – Rob Clarke, co-owner

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The next meeting is already booked in everyone’s diary. The continued growth of the business is also planned!