SITUATION
BodyBlocks Nutrition Systems began their business launch in 2003. The Founders were excited about their plans and the products that they would offer. The Company received seed capital from friends and family to take the business from an idea on paper to a proof-of-concept. The idea passed the feasibility study, and they were ready to raise the necessary capital to launch the business.
Body Blocks realized they needed a financial consultant who could take them from an idea to launch, and on to the next level as an emerging growth business. What did they need?
- A comprehensive financial model designed to match their business strategy
- Capital
- Basic Financial Reporting
- Administrative Infrastructure (financial, risk management, and human resource functions)
SOLUTION: Part-Time CFO Services
At the end of 2003, BodyBlocks hired Trillium Financial to be their part-time CFO. They did not have a need for a full-time CFO, but did need the financial expertise. Trillium immediately designed a financial model so the company could begin the process of telling its “story” to potential investors, and raise the necessary capital to launch its products. Within a few weeks the model was complete and ready for investor meetings.
At the same time Trillium began establishing infrastructure for the company finance and accounting functions. A foundation was created so that costs were variable and fit the specific needs of an emerging growth company in the early stages of its evolution. Trillium also advised Body Blocks on how to secure the right level of business insurance to protect company assets.
Trillium managed and designed the human resource functions, bringing together key HR resources to develop critical documents, formal personnel files, and policies. Payroll solutions were implemented to ensure all taxes were reported in a timely manner.