How to Rescue a Floundering Startup

A small software company contacted us with many corporate needs.  As a self-funded startup, the company had added talent before bringing in sales, resulting in a monthly “burn rate” (code name for losing money)of $60k which was rapidly destroying the company.  The company utilized a development environment that allowed for creating custom software to automate corporate workflows, saving their customers money.  In addition to that, they were developing a Silverlight-based add-on to the Symantec software platform that they believed would represent a useful pull-through sales opportunity for the software giant.

We came in to help them out with two main objectives:

  • Stabilize the company’s cash flow situation through increasing revenue and reducing expenses.
  • Shepherd the new software from development to production as quickly as possible, creating market partnerships to jumpstart sales of the product through increased visibility.

To help them get their balance sheet in order, we leveraged the existing technicians and cross-trained them on related products, allowing their services to be sold to an established market.  This reduced bench time significantly and brought in much-needed cash, buying precious time for the development efforts to be completed.

We worked with industry giant Intel to leverage marketing funds for their vPro initiative and created marketing videos and went to trade shows touting how this software solution would extend PC management.  In addition, we leveraged relationships with Symantec to get marketing exposure to their customer base, creating excitement and demand for the product.  In addition to creating excitement, it allowed for the company to sell services while those customers considered the new software package.

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