Emerging Growth Consultants: What Do They Do & How Do They Help?
Growing your business brings many challenges – but that doesn’t mean you have to tackle all of them by yourself.
In order to make the best possible decisions for driving revenue and growth based on your unique company needs, you’ll want to turn to an emerging growth consultant for guidance.
Everything you need to know about Emerging Growth consultants:
- What is Emerging Growth?
- What do Emerging Growth consultants do?
- How can an Emerging Growth consultant help my business?
- When should you hire an Emerging Growth consultant?
What is Emerging Growth?
According to the SEC, a business is considered emerging growth up until their revenue reaches $1B – but here at Bridgepoint Consulting, we define emerging growth as a company that is just beginning their journey but is growing quickly, spanning anywhere from pre-revenue up to $20-25M in revenue.
Emerging Growth activities:
- Finance Transformation: Restructuring and optimizing finance functions to provide real-time visibility and drive data-informed decisions
- Financial Planning & Analysis: Building models, dashboards, forecasts, accounting structures, processes, close calendars and more to measure success and growth
- Process Improvement: Identifying, analyzing and reworking existing finance and accounting processes to improve performance and drive results
- Investment Readiness: Ensuring investment readiness, developing investment plans, managing investor relationships, tracking investment spend and acquiring investments from other entities
- CFO Support: Driving strategic decision-making, hiring quality finance and accounting talent, developing pitch decks for investors and creating fundraising forecasts and strategies on a project-based or interim basis
- Cash-to-accrual Accounting: Tracking income and expenses as they incur to provide a more accurate measure of how the business is doing
What do Emerging Growth consultants do?
Emerging growth consultants analyze your business for potential areas for improvement, help you set up better systems for tracking business ongoings, growth goals and revenue, and provide the strategic decision-making support needed to chart the best path forward depending on your specific business needs.
They are there to act as a trusted business partner by identifying where, how and when you need to allocate resources, provide budgets for how much these new endeavors will cost and develop roadmaps for putting everything into place.
Skills of Emerging Growth consultants:
- Conducting assessments on your people, processes and technology and implementing measures to enhance operational efficiency, reduce risk and cut down on overhead spend
- Providing guidance on which growth strategies are the best to pursue based on your individual business needs
- Monitoring and developing KPIs to track performance and provide a better understanding of the health of the business, making adjustments as needed to meet key company objectives
- Developing and executing investment plans and working with investors to secure funding
- Assisting with the IPO process, such as ensuring the gathering of timely and accurate financial data and preparing financial statements
How can an Emerging Growth consultant help my business?
- Acts as a trusted business advisor to identify the best opportunities for growth
- Measures effectiveness of people, processes and technology to ensure maximum ROI
- Identifies vulnerabilities and areas across the business for improvement and makes suggestions for implementing more effective systems and processes to reduce risk, cut down on overhead spend and save time
- Provides strategic decision-making support for large-scale projects and endeavors, including pricing plans, sales team commission structures and more
- Ensures compliance with laws and regulations
When should you hire an Emerging Growth consultant?
There are many signs it’s time to hire an emerging growth consultant: if you’re experiencing growing pains, if you’re thinking about raising additional revenue but aren’t sure how to start, if you need help with budgeting or implementing accounting systems, if you’re looking to bolster risk management or HR compliance processes, alongside a multitude of other reasons.
Essentially, if you’re looking to maximize your potential for growth and find the most effective path forward, you’ll want to hire an emerging growth consultant to act as a trusted partner and provide you with the strategic decision-making support you deserve.
Looking to Sustainably Grow Your Business?
Bridgepoint Consulting helps emerging entities build successful foundations for financial and operational scalability so you can focus on managing growth and preparing for the future. From establishing effective financial processes to connecting you with the startup ecosystem, bridging resource gaps and getting you investor-ready, we keep your momentum moving to accelerate your success.
Contact us today or learn more about our Emerging Growth support services at the link below.