The document discusses the services provided by a part-time finance director. It describes situations where small businesses may need finance director level help, such as when sales are between £1-50 million, the business needs help with finances and administration, or the owners want help with scaling up. It then provides examples of what a part-time finance director can do, such as instilling a data-driven approach, ensuring accurate reporting and strategic planning, and acting as a partner in fundraising. The document also gives an overview of how the initial review process works.

1. 1John Bish - jbish@Jensonsolutions.com - +44 207 788 7539
When does a small business
need to get Finance Director
level help?

2. Do you need a Part-Time Finance Director?
• Sales between £1 million and £50 million(we have a separate
solution for start-up or pre revenue businesses).
• Too much time spent internally on finance or administration and not
enough on product or sales development.
• Can’t afford a full time FD and your accountant or book-keeper
doesn’t have the skills you need.
• Owners are hinting that you need help.
• You are ambitious and want to scale up for growth.
• Having to learn new skills just to manage the business?
• Warning signs the business is in trouble.
2John Bish - jbish@Jensonsolutions.com - +44 207 788 7539

3. Warning signs of a troubled business
• Erratic, late or inaccurate reporting from your accountant or book-
keeper.
• Not even basic analytics to measure what’s going on and hold
employees to account.
• The bank balance is less than you think it should be and cash
collections are erratic.
• Cash forecasts are never met and you are working long hours to
understand what’s happening.
• Low employee morale and a culture of blame prevails.
• Investor and bank meetings are awful experiences.
3John Bish - jbish@Jensonsolutions.com - +44 207 788 7539

4. What is an FD?
• Financial-controller’s, accountants or book-keepers manage and
report on historic transactions.
• An FD will not only ensure historic transactions are reliable but will
also be proactive with the company’s future financial success.
• FD’s are commercial and will always want to be making money or
saving cost for you and head off trouble before it arrives.
• A good FD will know how to use analytic tools to navigate the
business forward.
• They will be your partner in raising capital, not just plotting the
course for the exit but hold the business steady on that course.
4John Bish - jbish@Jensonsolutions.com - +44 207 788 7539

5. What will a Part-Time Finance Director do for me?
5John Bish - jbish@Jensonsolutions.com - +44 207 788 7539
• Instills a data driven financial mindset throughout the business.
• Acts as the steward securing assets and operating accurate and
efficient record keeping and reporting appropriate for the business.
• Ensures the strategy is robust, quantified (with key events described)
and followed.
• Sweats the detail and makes sure you are ready for bank or funder
questions.
• Works fully within your team and is a valued member who is not
afraid to ask the tough questions.

6. What do I bring to you?
• CFO with over 30 years experience in large and small companies.
• Excellent problem solving & stewardship success over many sectors.
• Extensive hands on track record building robust growth frameworks
with wins in all businesses: organic, acquired & start-up.
• Used to delivering on demanding goals including:
• analytic management & profitability improvement;
• extreme cash management & prioritisation;
• accurate and timely reporting & governance;
• operations improvement & outsourcing;
• business cases, fund raising, acquisitions & integrations;
• project evaluation & control….
6John Bish - jbish@Jensonsolutions.com - +44 207 788 7539

7. Backed up by the best in the business?
• Jenson Solutions Ltd is a UK leader of experienced finance
professionals who provide strategic, financial and operational solutions
to your business on a flexible basis: http://www.jensonsolutions.com .
• Our team cover the full range of financial skills and services for all
business types: http://www.jensonsolutions.com/the-team/ .
• The product and service offering is comparable with the very best:
http://www.jensonsolutions.com/services/ .
• The Jenson Funding Partners LLP seed EIS Fund for early stage
companies is in the Dow Jones Venture Capital Report as the 4th most
active investor for Europe-based VC backed companies
http://images.dowjones.com/wp-content/uploads/sites/43/2016/04/20080503/DJ-
VentureSource-EU_1Q16-Final.pdf.
7John Bish - jbish@Jensonsolutions.com - +44 207 788 7539

8. How will this work – basics
• There must be a mutual chemistry and trust.
• Initially a face to face meeting at your site.
• A Non Disclosure Agreement (NDA) must then be put in place.
• Next will be to perform a free half day review of your business using
an assessment framework.
• Findings will be discussed with you and a work program on high risk
and high priority areas proposed.
• Fees will be agreed and there is an agreement on the program and
how you will be kept updated on progress.
• The Jenson peer review process ensures work is performed to
standard.
8John Bish - jbish@Jensonsolutions.com - +44 207 788 7539

9. The initial review
• The initial review framework includes:
• Status of internal controls, record keeping, reporting & taxes.
• Transaction volume & processing efficiency – who is doing what?
• Cash flow planning, receivables & payables situation.
• Banking, funding relationships & covenants.
• General compliance & risk management.
• Sales pipeline status.
• Discussion with yourself on key goals, new funding & exit plans.
9John Bish - jbish@Jensonsolutions.com - +44 207 788 7539

10. The program – Stewardship
• Your internal controls must be fit for purpose and as a minimum
appropriate for where you are currently at.
• My immediate concerns will be to establish that you are in control of
your business finances and intellectual property.
• As a minimum being in control entails the ability to reasonably
predict short to medium term results and cash.
• There may need to be an immediate push on receivable collections.
• Compliance matters will be addressed as well as funder reporting.
• Staff situations are always sensitive but if there is an initial major
concern I will raise it.
10John Bish - jbish@Jensonsolutions.com - +44 207 788 7539

11. The program - Growth
• If high growth is expected, I will be commenting on pipeline
management as well as systems needs which may be simple or more
involved depending on production processes or transaction volumes.
• Analytic measurement must be introduced or reinforced and I will
recommend a KPI implementation program.
• Fundraising is always a topic and I will comment on various options
including seed money, VC’s, trade borrowing …
• If funding is an immediate and urgent issue, with your agreement, I
will discuss possibilities with my partners as we have a range of
options available.
• Exit planning becomes a way of life and will need building into plans.
11John Bish - jbish@Jensonsolutions.com - +44 207 788 7539

12. Case study – analytic measurement in a start-up
• Managed growth over 5 years from € 0 - €45 million using analytics
in low margin/high volume package forwarding e-commerce start-up:
• Cashflow planning and achievement;
• New business pipeline;
• Product profitability - 52% improvement.
• Customer profitability;
• Key markets size and key competitor performance using “Alexa”;
• Customer satisfaction from Survey Monkey;
• Market differentiated pricing based on being a leader or follower;
• Customer repeat usage and lifetime value by customer cohorts;
• Cost per active customer from SEM; and,
• IT and new business project management.
12John Bish - jbish@Jensonsolutions.com - +44 207 788 7539

13. Case study – start-up funding
• 14 successful separate equity or loan events over five years involving
a total of €11.7 million in equity and €4.7 million in debt.
• Approached 114 parties (45 VC’s in Europe, 39 VC’s in USA, 26
Strategic and 4 VC’s in Asia) resulted in 9 Due Diligences & 5 offers.
• Some of the equity events were fairly complicated with multiple
share classes, anti dilution mechanisms and accelerator conversions
on existing shares as an incentive for new investments.
• The major shareholders all became directors and in addition to
explaining results I had to manage multiple direct investment
discussions at the board involving “what if” scenarios on individual
shareholdings.
13John Bish - jbish@Jensonsolutions.com - +44 207 788 7539