The founder of Flightdocs was looking to break through a revenue plateau. He knew that he wanted to sell the company someday and wanted to ensure the multiple reflected the true value of the company. We were able to put the infrastructure in place to support consistent double-digit revenue growth, operational systems that delivered world-class Net Promoter Scores, and a management team that was able to secure major partnerships, attract initial investors, and ultimately impress would-be acquirers.
Revenue nearly doubled
Broke the $10M revenue barrier
Annual Recurring Revenue per customer increased by nearly 20%
3 major partnerships with Boeing, Textron and Cirrus
Launched Flightdocs Operations, a complementary product with huge up-sell potential.
Successfully sold for a premium multiple despite the pandemic.
Revenue had not yet surpassed the 8 figure mark.
Revenue Generation System
Implemented a reliable revenue machine and measured key metrics daily.
Did not have a comprehensive marketing strategy being executed by professionals.
Marketing Team & Campaign
Developed an in-house marketing team, then grew brand awareness with a multi-channel advertising and marketing strategy.
There were no operating procedures and several single points of failure.
Standard Operating Procedures
Formalized training programs and all key processes were documented with standard operating procedures.
There was only one dedicated sales professional.
Sales Department Growth
Shortly after implementing a repricing strategy, and on the heels of a successful marketing campaign, grew the sales department from 1 to 10.
The leadership team consisted of the owner and his son.
Hired & Retained Talent
Recruited and onboarded an experienced Chief Revenue Officer, Chief Finance Officer and a Human Resources Professional, while implementing and adopting hiring and retention best practices.
Financials being run by a bookkeeper did not follow Generally Accepted Accounting Principles (GAAP) for SaaS companies.
Tracked Key Metrics
Implemented systems for properly tracking SaaS metrics and performance, including Customer Lifetime Value and Churn.
While the company was profitable, funding was required to accelerate growth.
Explored financing options and ultimately secured a first round investor.
“We operated a fast-paced, boot-strapped, SaaS company in the Aviation Industry and the folks at Limitless helped us to help scale up every aspect of our business resulting in a 40% YOY growth. From accounting, to product, to sales, to operations, the Limitless team enabled us to move major initiatives along quickly and effectively - ultimately resulting in a very successful exit.”
- Greg Heine, President
High valuations are achieved by companies that have strong recurring revenue streams supported by strong sales processes and management teams independent of the owner.
In a study of 23,158 companies, we found 40% of business owners have one thing in common: They are Rainmakers – the primary revenue driver for their company.
Rainmakers are exceptional at rapidly accelerating business growth, but they eventually hit a ceiling.
Revenue stagnates and business value plateaus, forcing owners to confront the Rainmaker’s Dilemma.
The solution? Become an Architect.
In this eBook you will learn: