CFO Outsourcing || Business Plan, Valuation
WorkAdvantage is a startup delivering programs which connect and benefit corporate employees and businesses. They intend to partner with both, market for businesses and provide an end-to-end system for corporate employees which will help them avail the benefits and exclusive offers provided by business partners.
With a young UCLA, ex Microsoft set of founders at the helm WorkAdvantage was getting ready to raise seed capital in India. Their focus was the right angels or VCs who could add value through their growth phase. They talked to multiple investors some of who were introduced by LIFTOFF as well. Each meeting became a brainstorming session with new ideas and expectations. The need for a structured business plan was felt to share the long term vision of the team.
Guidance from founders with previous experience on fund raising and financial experts came in handy. Business project plan with a basis for valuation and projections was initiated. Numbers provided were worked on and value enhancing concepts brought in. Burn rate was predicted and curbed, business development rate were computed over the years. A four year plan with projections, tax planning and returns was built. Valuation sheet using appropriate methodology was included. All of this in a snap of 3 days.
WorkAdvantage had a signed term sheet within the following month with the plan coming in handy to sell the story that needed to come out for the long term.