Challenge
At inception, StepJockey had won an Innovate UK award for an app that tracked movement, stair-climbing in particular. But a utility app was never going to change behaviour. What mattered to employers was that it had to be a ‘nudge’: a gamified wellness and change-management prompt. Privately funded to £1M and running across two sites, it had gone six months with no revenue, losing money every month. Before releasing the next tranche, the shareholders set two conditions: a full commercial review, and an interim commercial leader to act on it.
Solution
Zed was appointed to run that review, stayed on as interim CCO, then was appointed CEO. He reconnected the business to its market, testing who the product was really for and what they would pay for. He rebuilt the commercial rigour of a real sales organisation: monthly accounts, cost and debtor control, a structure fit for purpose, and a disciplined, well-coached sales team behind a proper CRM. And he changed the culture, so the leadership team owned their numbers and faced the customer, not the org chart.
Results
Revenue returned in the first month. Renewals rose from 37% to 73%, and new national and international clients followed, 50% of them in the U.S. Within a year the business was beating plan at close to 100% revenue growth, and Zed left it Series-A-ready, set for further investment.
Are you funded and pre-revenue, with your board and shareholders losing patience?
The fix is rarely more product or more marketing spend. It is reconnecting to the market and making the numbers predictable. Build a business that can stand on its own, and the funding round takes care of itself.
BOOK