BCKDRP

Bckdrp is a Brand Developing Firm that specializes in community building and connecting brands with Gen Z/Y communities.

Problem Statement:

1. Financial Structure Enhancement: Bckdrp recognized the need to enhance its financial structure to ensure more streamlined operations and informed decision-making.
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2. Financial Planning Optimization: The agency sought assistance in optimizing its financial planning processes to gain better control over its financial resources.
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3. Improved Bookkeeping System: Bckdrp aimed to establish a robust tracking system for day-to-day inflows and outflows, enabling effective cash flow management.
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Approach:

1. Our experienced team diligently conducted an in-depth assessment of Bckdrp's financial operations to identify areas for improvement.
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2. We collaborated closely with the agency, facilitating deliberate meetings and discussions to guide informed financial decision-making.
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3. Together, we meticulously curated and scrutinized strategies and initiatives, focusing on enhancing the scalability of the company.
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4. Taking into account the perspectives of both the agency and its customers, we conducted a comprehensive analysis of the entire process.
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5. We assisted Bckdrp in determining optimal pricing for its services, ensuring a balance between customer satisfaction and the firm's profitability.
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Outcome:

1. Profitability Boost: Through our collaborative efforts, Bckdrp experienced a remarkable increase in profitability, transforming their financial performance from -10% to an impressive +40%.
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2. Establishment of Emergency Fund: We guided the company in establishing a liquid runway of six months, significantly bolstering their financial resilience. Moreover, our expertise led to a 35% reduction in income tax payable while tripling the agency's liquidity.
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3. Reduced Burn Rates: By implementing prudent financial strategies, we successfully reduced burn rates from 70% of revenue to 45%. This resulted in a substantial increase in profit per employee, soaring from 10% to an impressive 50%.
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4. Enhanced Risk Management: Our meticulous approach encompassed improving budgeting, accounting, and bookkeeping systems, thereby streamlining business processes and reducing unsystematic risks.
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Overall, our financial management services played a pivotal role in empowering Bckdrp to establish a more organized and structured financial process. This, in turn, led to significant improvements in profitability, burn rates, and risk management.