Sports and Recreation
“I was delighted to take part in the SME PIC programme at Edge Hill University. The support has been incredible, resulting in the employment of 30 people, 5 of which are now employed full-time on permanent contracts. We have gone from strength to strength with our new Instructor Training Service exceeding all targeted expectations.”Kirsti Grayson, Director at Go Velo Ltd
Kirsti Grayson, Director of cycle instruction company Go Velo entered the Innovation Sprint Programme to formulate a product-development driven strategy for growth, based on a new Instructor Training Service (ITS). The objective was to drive 29% growth in the business over a three-year period. Effective product development strategies take an insight-driven approach of defining the market opportunity, customer profiles and routes to market, underpinned by a sound revenue model. The strategy was also likely to lead to the creation of new jobs, set within a new organisational structure to embed the appropriate skill sets to drive the ITS forward.
Developing the ITS would allow Go Velo to achieve the accredited status as a Recognised Delivery Centre for cycling training. This would allow Go Velo to drive up market share within the region, but also give them a scalable model to replicate in regions across the UK. During the programme, Go Velo were able to develop the evidence base for the market opportunity available and explore the feasibility of the routes to reaching those markets. A key enabler to unlocking the opportunity was going to be the use of digital technologies for both identifying and managing the customer base and for the delivery of
The key changes
A number of changes were identified in the business model to achieve scalability. Firstly, key internal business processes needed to be made more systematic and repeatable. Digital business technologies were also going to be important for managing the uplift in the client base and instructors. The most successful SMEs have a clear business plan, underpinned by financial KPIs. Go Velo were facilitated to plan their sales pipelines, customer journey KPIs, and revenue model, ensuring the product development was financially achievable.
The plan and outcomes
Go Velo used the latter stage of the programme to devise their action plan for embedding the business model changes and new service launch. As a direct result of the programme, Go Velo has created 30 jobs, including five full-time permanent positions, employing previously sub-contracted instructors as permanent employees. This provides stability for the instructors and the company and ensures client needs can be met most effectively. Access to instructors has been a key priority to meet the sales demand generated. The programme, and their new strategy, has allowed Go Velo to join an exclusive list of only 15 recognised organisations in the country able to deliver ITS. The programme has given Go Velo the plan and the infrastructure to achieve real scale, allowing them to drive up their revenue, create new jobs and ensure profitability.
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Contact us to book a consultation with a member of our Business Development Team or to find out more about the Productivity & Innovation Centre.