The company had exhausted its initial capital in the process of building its web engine, acquiring a few key managers, and enlisting its first partners and customers. A second round of financing was on hold pending verification of the business plan and the appointment of highly capable executive and financial management personnel.

The solution was to review and revamp the business plan to more accurately reflect both the revenue opportunity and the likely cost structure needed for the realization of that revenue; to support the newly appointed Chief Executive Officer to enact appropriate levels of spending and division of duties and controls; and to prepare the VC Partner for credible financial presentation to new and existing investors.

Mornington consulting partners conducted a rapid and rigorous reworking of the business plan, revising revenue projection and incorporating an appropriate and workable business model into the cost structure and estimates. We communicated the revised Business Plan to the CEO, the VC Partner and Board of Directors, and with their approval prepared the plan for presentation by the VC group to new and existing investors.

The outcome was positive. The client secured an additional $2.7 million in funding in excess of the amount projected to be required by the Business Plan and resumed its process of moving to full operational capability.