NXD Services
- 1. No.1 Provider of Non-Execs to UK SMEs An NXD initiative to save a start-up from the fire. NXD MD sourced NEDs with specialist and relevant skills to both invest and deliver the re-ignition of an inspired concept delivering service to an identified market gap RigBag an online marketplace for action sports enthusiasts to buy and sell new and used equipment
- 2. Acquiring and shaping the business opportunity and delivering within a new environment as a Team of NEDs Stephen Barter: I was invited to support a struggling business start-up in Ireland that had an interesting prospect to address a gap in the market. RigBag had both Angel and VC investment and Enterprise funding from the Irish Government. When the VC pulled out at the last minute, this left a major funding hole. The Founder: The NXD team were excellent. They restructured and invested in the business; overnight they introduced a level of professionalism, plans and shape that has been essential to launch. At the same time they leveraged well-placed industry contacts to move the business to a considerably higher prospect than hitherto envisaged, whilst retaining the original essence of the idea. Further industry acquisitions and initiatives are underway to protect the venture, whilst embellishing the core value proposition. Fundamental to launch has been the new web platform, retaining the frictionless trading ideals.
- 3. Main challenges: All start-ups struggle with funding; RigBag is no different. RigBag needs to launch the web platform and start trading to validate its value. Harnessing social media is core, for both marketing and awareness as much as for harnessing a crowd funding option Overcoming the challenges: Focusing and coordinating so many senior executives presented its own challenge, but the team has gelled, unified by the overall goal and role specialisms have come to the fore. With new business opportunities presenting themselves constantly, staying focused on the customer requirements, website delivery and retaining the market Value Proposition has been essential The value NXD delivers: Whilst the team are senior executives, it is excellent to witness the exceptional value generated from this part-time group to turnaround the idea in such a short time. As it comes to market, the next stage of the RigBag story awaits! Key challenges remain in funding and launching the new venture, within the new online paradigm
- 4. Team Profiles Stephen Barter Chair (and MD of NXD) o A serial and experienced Chair; has a wealth of experience of supporting founders and organisations bringing their concepts to market Adrian Stratta (NXD) CEO o Experienced interim and turnaround executive from SMEs, following consultancy and Commissioned service in the military Naggib Chakhane (NXD)/ John Richardson CFO o Experienced CFOs from Corporate and PE backgrounds Paul Narraway Sales and Marketing o Career experience in launching new ventures and driving sales & marketing (& PR) within hospitality and sports industries Tony Heywood (NXD) Retail/Operations Director o Runs a on-line retail site, having been a retail turnaround specialist Radouane Oudrhiri (NXD) CTO o University lecturer and serial start-up investor/advisor for tech spin- outs/projects Clare Henderson (NXD) Head of IT/Web developer o 25 years of online and web development innovation
- 5. NXD is the No.1 Provider of Non-Execs to UK SMEs Wanting to grow their business to the next level Concerned that their business is getting too big to manage Frustrated with persistent and damaging issues Facing new types of challenges in the future Preparing their business for succession or sale Needing a high quality, independent sounding board NXD non-executives have substantial commercial experience that enables them to act as a seasoned sounding board. They also have the commercial acumen to help you improve your financial performance. Non-exec services include: Vision, strategy, planning Fund raising Succession planning, acquisition and exit Geographical and product expansion. Leadership coaching NXD non-executives operate across the full range of industry sectors including: Automotive Business Services Charities & Not For Profit Energy & Chemicals Financial Services Healthcare & Pharmaceuticals Industrial Manufacturing ICT Leisure & Tourism Media/Advertising/PR Property & Construction Retail & Consumer Goods Technology Transport and logistics NXD is a network that provides non-executive services to SMEs. Challenges that the NXD non-executives work with business owners to address include:
- 6. Convinced your business has more potential? Fed up with having to make every decision that counts? Frustrated with the lack of strategy to deliver growth? Having difficulty opening the right doors? DISCOVER HOW YOUR BUSINESS CAN BENEFIT FROM Experienced professionals who have grown businesses and taken them to the next level Independent counsel & practical advisors who can effect change & growth Commercial acumen to help you improve financial performance Door openers with networks of relationships relevant to your business TO FIND OUT MORE Contact: 08450 038 213 email: info@nxdservices.com www.nxdservices.com