Cloudfields developed a strong business plan for Studio X taking into consideration their mission, values and how they wanted to scale over the short term. With a strategic plan in place based on their business drivers Year 2 figures surpassed expected turnover by 46% and profit for Year 2 was 40% after Directors’ drawings and tax.
Studio X approached us early in the pandemic requesting support with the setup of their business. Their company had been set up a year earlier for private use but was now making the move towards becoming a fully functioning public business, with external clients and bigger projects. Cloudfields proposed creating a business plan for them which gave them an actionable roadmap for the next 12 months.
We wanted to create a realistic plan for Studio X that took into consideration the clients’ personal and professional goals, as well as considered the pandemic’s immediate impact on the architecture and interiors market. Another consideration was to ensure that we built the plan from a clear purpose + mission, as it is essential work from which to build a cohesive brand and company structure. The founders of Studio X bring complimentary skills and experiences to their work, and together we found commonality between them to distil the purpose + mission to something that resonated and would grow with their business.
Upon completion of the business plan, Cloudfields stayed on a retainer basis to help in the management of the business, supporting from fee proposals to PR and marketing strategies.
Year 2 figures surpassed expected turnover by 46%, pushing them over the VAT threshold well before planned (Y3). Profit for Year 2 was 40% after Directors’ drawings and tax – incredible for a new business working through the Covid-19 pandemic. Whilst we acknowledge that this high profit level is partly because of the pandemic – overheads are negligible with work from home – it is also due to accurate pricing, and an incredible amount of hard work on their parts.
Cloudfields has been alongside Studio X’s Founders as they’ve negotiated new projects, major life changes and significant upheaval. Our support gives them the safety net that there is someone behind the scenes thinking strategically about their business, shouldering some of the understandable worry and giving them the freedom to do what they love to do: design. Our collaborative approach ensures that we are working towards our clients’ goals, considering their long-term plans as they negotiate day-to-day.