For Founders of a start-up, the challenges are many and the time to create and launch is often short. There are limited numbers of people to call on and financial resources are often in short supply. How, then, to accomplish a lot, in a short period, with less.
Basement founders see a major problem that needs a solution and have an idea on how to solve the problem. Sometimes, the idea involves applying a new technology to a problem or thinking about the problem in a completely different manner. Some ideas can revolutionize the way we live, and some may drastically reduce the time, effort and expenditure tackling the mundane.
At Barrington Edge, we work with individuals and organizations who have identified a significant commercial opportunity and believe that their startup will make the world a better place. We have assisted “basement founders” reach the “boardroom” with their ideas through our early involvement in the initial phases of starting a business. We bring enthusiasm and excitement, much needed skills and experience, agile based product development, financial management, market definition and launch capability, research, and capital markets assistance. In certain cases where it fits with the Founders, we put skin in the game as long-term investors.
The discovery, the passion and the obvious social or fiscal merit of a start-up is key to Barrington Edge becoming involved. Read below to see how we can take your ideas from basement to Boardroom.
Supporting the Start-Up
Understand the User (Talk to Todd)
“Talk to Todd” is an internal joke at Edge referring to the necessary conversations required with the end user of your product, service, or business audience. Founders are not always the target user for an invention and although the founder sees the merit, it is vital to talk, show, sample, share and listen to the audience for your product. Part of the Edge process is to find “the Todd” and ensure the founder can view their own idea from the Todd’s point of view. Insights from “the Todd” allow you to respond to investor questions about business merit, true business problem and respond to the questions about the solution.
Competitor and Market Research
It takes more than the ‘art of googling’ to identify and find information about competitor products and services. Through extensive research, personal relationships, our ecosystem of partner organizations and accompanying ecosystems, we collate valuable information and insights required to make a strong business case for your product or service. Developing key market metrics such as TAM, SAM and SOM, understanding which markets to launch early-stage trials to build validation, researching best fit product design attributes, and helping to source in-market sponsors are key activities for Founders where we provide early assistance.
Financial Modelling
Investors have questions and spend a considerable amount of time performing due diligence on your plans, assumptions, metrics and financial models. Sophisticated investors expect Founders to be organized and prepared with ready evidence and answers to support their investment requirements. For Founders not steeped in finance, we assist in building service models, growth models financial projections, data rooms and formulating financial information that supports investor interest in your endeavour. We coach Founders through the financial process and build comparative research to support key metrics. Knowing the cost of acquiring a customer, calculating the KPI’s and providing relative supporting documentation are all part of the financial model and must anticipate and address key investor questions.
Pitch Deck
A pitch deck is a Founders resume to the investment community. It is the document that a potential investor will spend 3 minutes on when received to determine if you get a meeting. It needs to be short, visually appealing, compelling, tell a solid story in 12 slides or less, and connect the dots on the investment opportunity.
We have seen hundreds of pitch decks and have worked with successful Founders in securing financing. We will help you assemble the materials, create the deck and supporting materials, coach you through the sales pitch and help you manage the process. In dealing with Founders who are beginning their journey from basement to boardroom, Barrington Edge provides support services to enable and accelerate this transition.
Investor Relationship
Investors have a language of their own and often Founders struggle with the T&Cs of the investment process. We assist in curating select investor targets, preparing materials, arranging investor calls, crafting pitches, building relationships with investors, and negotiating terms to ensure our clients secure the best possible funding for their business.
Navigating Non-Diluting Capital
Non-dilutive funding is possible from government programs and private sources of debt from capital markets and private investors. Barrington Edge can assist with navigation of these programs, guidelines, and requirements to help finance early start-up activity. Non-dilutive funding options, such as grants, loans, and tax credits, can provide startups with the financial resources they need without sacrificing equity. These early-stage discussions with Founders and their finance advisors help structure a solid CAP table and debt/equity balance that wills serve them well as they grow their business long term.
Co-creation of Products & Services:
Development of Minimal Viable Product (MVP)
We work closely with our clients to understand their product vision, target market, and unique requirements. Using the power of collective creativity and modern technology, we have been successful in rapidly building solution prototypes and minimal viable products (MVP). Our experienced team of developers, designers, and project managers work with our client’s teams in a seamless co-developer environment, leveraging agile methodologies to ensure the MVP is delivered on time, on budget, and with the highest level of quality. These prototypes and MVPs are then used to prove the solution concept and assist with raising the much-needed capital to fun full commercial development.
Product Design & Development
Barrington Edge technical resources will assist in determining approaches and technologies required to make the solution a reality. This includes identifying the key technical challenges, and anticipating roadblocks and expensive barriers that may be faced in product build iterations. This can help feed information about the approach, costs, timelines, and investment required to start, continue, or change course. Once the solution design approach is agreed, we help build a team of experienced and dynamic technical and business resources comprising of Business Analysts, Technical Analysts, UX, Scrum Master, SMEs, and full-stack developers who can build the product from the ground-up. We follow Agile methodologies in our product design and delivery process.
Product development is a co-creation experience with our clients, and often the end customer. As an iterative process, we get to “try things on”, see what works, adjust as required and sprint to key milestones. We bring to the table the resources that you need as and when required.
