How This Small Business Doubled Its Revenue with Help from Our Experts
Jeffrey Fox, owner of Star Fox Media, was able to double the monthly revenue of his marketing business with the help of The Impact Lab’s fractional CFO services.
The Impact Lab helped small business owner Jeffrey Fox get his finances out of the red and in a position to grow.
When Jeffrey Fox of Star Fox Media joined our Impact Lab, his business was packed with potential and full of talent, with multiple full- and part-time employees. But financially, the company was bleeding, and Jeffrey wasn’t able to pay himself.
After ten weeks working with the Impact Lab’s fractional CFO, Jeffrey’s business doubled its monthly revenue.
Star Fox provides month-to-month marketing solutions including strategy, social media management, content creation, and more, because the cost of hiring an in-house marketer can be difficult to justify for small business owners. Clients are not obligated to sign a lengthy contract and can cancel their services at any time, making this a much more approachable solution than hiring on an additional staff member or even hiring a contracted freelancer.
Jeffrey came to Mission Edge with a solid business model and an experienced team of marketing experts.
However, just like the small business owners Jeffrey works with, he faced the challenge of limited resources with which to handle his organization’s finances.
“We have been flirting with breaking even, without paying me as the owner, since the beginning of the company, but I won’t be able to work on the business without being paid forever,” Jeffrey said. “We have some opportunities to grow multiple potential new clients just around the corner, but we want to make sure we are doing it right.”
This is where our Impact Lab came in.
We paired Jeffrey with Pat, an experienced CFO who would help him get clarity on his company’s pricing, revenue, and expenses.
Over the ten weeks of the program, Pat helped Jeffrey simplify his business and organize its revenue streams into three tiers so prospects can easily understand what level of services they might need.
Pat also helped create a financial model that clearly outlined Jeffrey’s revenue, cost of goods sold, and expenses, giving him a better understanding of where Star Fox Media was actually at financially.
Throughout the program Star Fox Media doubled its monthly revenue. The company was able to get out of the red, and Jeffrey will finally be able to pay himself beginning in January.
Jeffrey's is just one of many success stories connected to our Impact Lab.
Small business owners come to us with their unique goals and visions, and we offer one-on-one learning, accountability and financial support, as well as access to community and exposure to our network.
We’re excited about leveraging our resources to create measurable results for our clients and create a ripple effect of positive impacts in our community.
Because we worked with Jeffrey on his financial goals, he’s better equipped to continue providing marketing services for his small business clients.
If you’re interested in taking the next step and getting on the waitlist for our Impact Lab, you can do so here!
See how Impact Lab could help you gain financial clarity for your business in 2023
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