Worcestershire Business Support Provider Helps Software Firm Revise Revenue Model and Drive Growth
A leading software provider that specialises in developing innovative solutions for the home care, contract cleaning and facilities management industries has successfully increased its turnover by 350%, after working with business support provider, BizSmart, to transform its revenue model.
Headquartered in Redditch, Unique:IQ was founded by Managing Director, David Lynes, in 2003, with two innovative software solutions, IQ:timecard and IQ:careplanner, designed to overcome the challenges of remote and mobile workforce management, predominantly within the Care industry.
However, with an ambition for growth, David decided to seek support from Kevin Brent, founder of BizSmart, in 2014 and joined the first cohort of SmartBoards®; a peer-to-peer group of like-minded business owners who help one another overcome challenges and achieve their growth objectives.
Since this time, David has worked hard to transform the Unique:IQ business model from adhoc to recurring income, enabling him to employ an additional 28 people and expand into new markets.
As a result, UniqueIQ has grown headcount significantly to 32 and increased annual turnover by an impressive 350%; establishing the brand as an industry leader in business management software solutions.
David Lynes explained: “Before I started working with BizSmart®, 95% of our revenue was adhoc, which meant we relied heavily on a consistent stream of new sales to achieve any form of growth. I knew I wanted to transform the business to a recurring revenue model, but wasn’t sure how to achieve this and even looked at selling the business.
However, in meeting Kevin and joining SmartBoards® I quickly learnt the benefit of peer-to-peer learning and support, where the introduction of quarterly plans and targets have proved really important to us. As a result, 99% of our revenue is now recurring, we have employed 28 new people and are recognised as an industry leader within our sector. Without the coaching, advice and support from BizSmart®, we genuinely wouldn’t be where we are today.“
Headquartered in Worcestershire, BizSmart® has successfully established itself as a leading business support provider by developing a series of proven support programmes with a key focus on bringing like-minded business leaders together via peer-to-peer learning and engagement.
Focused on disrupting the business support industry, the firm has recently launched a new franchise model, which not only provides the opportunity for proven professionals to build and establish their own business support offering under the BizSmart® umbrella, but also extends vital support to professionals likely to benefit from peer-to-peer learning and engagement during this economically challenging time.
Kevin Brent confirmed: “Unique:IQ is an excellent example of the types of businesses we work with and aim to support through BizSmart®, where the business owner or Managing Director has a desire for growth, but values external guidance and support to help cement and achieve their objectives, overcoming hurdles along the way. Over the course of 6 years, together with the other business owners on his SmartBoard® we have worked closely with David enabling him to completely transform his revenue model and to effectively scale the Unique:IQ brand, culminating in multiple industry awards and a 350% increase in annual revenue.”
This was posted in Bdaily's Members' News section by Ruth Jones .