fishHook

FishHook, a marketing agency, faced significant growth challenges due to a poorly functioning financial structure.

Process:

• Detect and Rectify: In the first step, Viable conducted a detailed retrospective analysis of FishHook's financial records to identify errors and inconsistencies. This allowed the team to recognize and assign immediate rectification of issues found within the system.
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• Organized Processes: Viable scrutinized and established sound and streamlined financial processes from scratch. The team segregated money into different accounts based on domains such as tax, expenses, income, profits, and more. This helped FishHook have better control over its finances.
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• Creating a system: Viable helped FishHook manage cash inflows and outflows associated with periodic tasks like rental and supplier payments, salary calculations and payments, monthly and yearly interest payments, tax computations, and many other factors. They established SOPs to govern day-to-day transactions and created a reviewing system for financial activities.
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Outcome:

• Safety Pillow: Viable created a cash runway of nine months in just six months of collaboration. This allowed FishHook to have better financial stability and an increase in the goodwill of the agency.
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• Up the graph: FishHook scaled up from a loss of -20% to a profit of 50%, accounting for a 70% net difference. Viable helped them achieve this by improving their financial planning, reducing expenses, and optimizing revenue streams.
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• Safeguarding money: Viable helped FishHook safeguard its money by forming budgets and understanding the trends of the organization's expenses. This led to the creation of budget plans and executive decisions on the expense chart, reducing unnecessary expenses.
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• Increased revenue: Viable estimated a 3X increase in the amount of revenue generation by finding ways to utilize funds in an optimum and efficient manner, maintaining the supply of funds for the organization, and introducing and improving techniques of tax reduction. This helped FishHook increase its revenue streams while also keeping costs in check.
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Overall, the process and outcomes of Viable's collaboration with FishHook helped the agency address its financial challenges, resulting in improved financial performance, better financial stability, and increased revenue.