Organizational Assessment & Restructure for FinTech Start-up
Conscient Strategies was referred by an angel investor to advise and coach the CEO of a FinTech Payments start-up. The start-up was looking to do a Series A raise and struggling with its organizational structure, strategic focus, and clarity of leadership which was all slowing its launch of new products key their growth strategy. The CEO engaged us to perform an organizational assessment and provide strategic advisory and leadership coaching services to help them achieve their growth objectives.
We began by conducting a needs assessment to evaluate the organization’s leadership and organizational structure. The assessment focused on operational alignment with strategy, effectiveness of and gaps in the current organizational structure, and areas for leadership growth.
What We Discovered
The assessment revealed three key gaps, each a significant risk to the organization’s success:
- Gap between existing organizational structure and the one needed to reach the strategic goals
- Lack of operations capability and capacity to launch new products
- Need for leadership coaching and a sounding board for the CEO
What We Did
Following the assessment, we provided advisory services to the operations team to develop new reporting and processes. We also advised the CEO and Head of Product to improve alignment on strategic objectives and accountability in their achievement. We then worked alongside the CEO to identify key gaps in the organizational structure and what skills were needed to fill the open positions. Through leadership coaching the CEO was able to gain clarity of vision, improve strategic decision making, and drive the company forward more quickly.
With improvements provided by Conscient Strategies, sales increased 5-15% month on month over the course of the multi-year engagement.
Through our engagement, our efforts resulted improved organizational alignment, increased operations capability, significant growth in the CEO’s leadership capabilities, and a restructured management team. The new management team:
With these improvements, the company sales increased 5-15% month on month over the course of our multi-year engagement. They not only decreased the time it took to take a product to market, they got back on track for their target product development plan, launched two new products in the first year of the engagement, and successfully raised Series A capital. We have continued our engagement into a third year acting as an advisor to the CEO and board as they pursue a Series B raise.
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