Beekeeper: growing to bee the best Amanda Rushton Jesse Prent Jonathan Faerman Winnie Hu

How does Beekeper transition from a successful start up to a sustainable and dynamic business? Structure Product Growth

Recommendation

Restructure for optimized ops Restructure and retrench as key player in core industries Increased engineering workforce Internal relationships – communication and compensation New HQ in Zurich Restructure for optimized ops Sales team to use strategic targeting and data-driven approach Better relationship management from Account Managers Reputation building through data-driven content Sales via customer engagement Focus on core industries now, banking in medium term Innovation focused on security, features, and usability Test new features internally Position for sustained growth Our plan will fortify Beekeeper while enabling sustainable growth

Analysis

Beekeeper not equipped to compete with the biggest players Credibility Whatsapp Slack Beekeeper Breadth of Industries

Beekeeper not equipped to compete with the biggest players Credibility Whatsapp Slack Beekeeper Breadth of Industries Focus on few industries where credibility is easier to win

Beekeeper not equipped to compete with the biggest players Security Whatsapp Beekeeper Slack Staffbase Red e App Crew Tailored Solutions

Beekeeper not equipped to compete with the biggest players Security Whatsapp Beekeeper Slack Staffbase Red e App Crew Tailored Solutions

Beekeeper not equipped to compete with the biggest players Security Beekeeper Whatsapp Slack Staffbase Red e App Crew Tailored Solutions

Beekeeper not equipped to compete with the biggest players Security Beekeeper Whatsapp Slack Staffbase Red e App Crew Tailored Solutions Seize opportunity in offering secure custom solutions, with sights set on banking industry

Sales force over-promising Engineering team under-delivering Beekeeper needs a better way to acquire and retain clients Client Needs Credibility Relationship Management Security / Compliance Tailored Solutions Sales force over-promising Engineering team under-delivering Credibility erosion

Sales force over-promising Engineering team under-delivering Beekeeper needs a better way to acquire and retain clients Client Needs Credibility Relationship Management Security / Compliance Tailored Solutions Sales force over-promising Engineering team under-delivering Credibility erosion Focus on a better-equipped data-driven sales force and sustained follow-up

Current management structure is preventing Beekeeper from realizing potential Firm Infrastructure New layer of middle management creating new problems Management HR Too few engineers Lack of office space for growth Ops Technology Standard Operations Marketing Follow-Up Complexity affecting productivity Challenges delivering on sales team’s promises Credibility remains a challenge for acquisition Deal renewals uncertain with changing management

Restructure and implement communication tools to improve operations Current management structure is preventing Beekeeper from realizing potential Firm Infrastructure New layer of middle management creating new problems Management HR Too few engineers Lack of office space for growth Ops Technology Standard Operations Marketing Follow-Up Complexity affecting productivity Challenges delivering on sales team’s promises Credibility remains a challenge for acquisition Deal renewals uncertain with changing management Restructure and implement communication tools to improve operations

Clients demand reliable, tailored solutions Current management structure is preventing Beekeeper from realizing potential Clients demand reliable, tailored solutions Poor communication between ops and sales Overly complex internal structure Increasing focus on security No sustained client follow-up Lack of engineering workforce Opportunity in custom, secure platforms Reputation / credibility at risk Restructure for improved efficiency

Clients demand reliable, tailored solutions Current management structure is preventing Beekeeper from realizing potential Clients demand reliable, tailored solutions Poor communication between ops and sales Overly complex internal structure Increasing focus on security No sustained client follow-up Lack of engineering workforce Opportunity in custom, secure platforms Reputation / credibility at risk Restructure for improved efficiency Restructure and implement communication tools to improve operations

Financial Analysis

Contract renewals? Strong management? Innovation? Send Strong signals to the market to ensure a proper valuation Contract renewals? Strong management? Innovation? Realign the structure to sales and technology

Engineers to Support ratio is bad Send Strong signals to the market to ensure a proper valuation Engineers to Support ratio is bad Create more engineering positions to foster agility

Alternatives

Beekeeper needs to refocus on core industries Mature competitors play in diverse industries; internal organization to be prioritized Market Operations Strategic Focus Rapid Growth Targeting 15 industries when revenues only come from 3 Using funding to grow exponentially Internal Organization Lack of engineers Failure to meet deliverables turning affecting company’s credibility Risky Growth Customers want a risk averse company Beekeeper needs to refocus on core industries

Compete in industries where your reputation is solid Criteria Growth Innovation Feasibility Sell Beekeeper Focus on Hospitality Retrench in Hospitality, Manufacturing, Retail Reorganization Smoother operations will build your credibility and position for sustainable growth

Risks can be mitigated! Funding does not go as planned Mitigations Contingencies Funding does not go as planned Seek partnerships Sell Beekeeper Clients leave Beekeeper due to lack of internal advocates Offer discount packages Invest in account management training for better relationship management High internal turnover rate Increase long-term bonus structure Develop new talent acquisition and retention initiatives

Implementation Plan

Restructure for optimized ops Implementation Plan at a Glance 2018 (Q3,Q4) 2019 2020 2021 Restructure for optimized ops Mandate 1 week onboarding Hire engineers Reassess roles Hire acct managers Use own platform KPI-based bonus New Zurich HQ Sales via customer engagement Develop sales deck Multi-channel sales and marketing: trade shows, talks, universities, digital, content Standardize client journey Position for sustained growth Innovation: integration, wearables, blockchain, video meetings Retrench 3 core industries Enter banking Apply funding: $13-24m Internal issues must be addressed in next 12 months

Internal restructuring for optimized operations Engineering Employee Experience Dashboard & Analytics Security & Integration Innovation 25% engineers Hire top talent from universities Sales, Marketing & Engagement Sales Marketing Account Managers Reassess current roles and responsibilities Hire internally Realign the structure to sales and technology, while embedding strong values

Use Beekeeper internally Management office hours Change must be driven from the top-down Clear message: In face of rapid growth, Beekeeper is still a community Call to action: “Bee” engaged! Outcome: Internal alignment of goals and values Happy and motivated employees Use Beekeeper internally Management office hours Mandated week-long onboarding KPI-based incentive program An aligned organization is required for a sustainable future

A successful customer journey builds trust, reputation and value Employ comprehensive customer engagement to increase sales and lower churn Marketing Sales Account Manager Leverage EO partnership to publish white papers Publish digital content on “The Buzz” blog Host webinars for current/potential clients Use Big Data Data-driven sales deck: case studies, current product knowledge Target junior executives via LinkedIn: underserved segment Trade shows, talks, university freebies Standardize client journey: Onboarding, monthly calls, quarterly reports, customized Provide support, dissect analytics Proactive upsell and contract renewal process A successful customer journey builds trust, reputation and value

Offering latest technology will keep your competitive “buzz” Continue innovating to strengthen position as key solutions provide for core industries Integration Incoming messages from other platforms/apps Wearables Check messages from smartwatch Blockchain Security and user authentication Video Live and recorded video meetings Internal A/B testing, phased roll-out Offering latest technology will keep your competitive “buzz”

Focus on market penetration in core industries Hospitality Retail Manufacturing Banking Next funding round: $13-24 million Data-driven application Starwood Hotels Costco, SwissAir Volvo ING, Japan Net Bank Position for sustainable future growth by becoming a trusted key player

Financials

Marketing initiatives Invest heavily in engineering, sales and internal structure $2M (+10 engineers, 25% of workforce) Engineering team $1M (+5 engineers) Innovation team $1M (Advertisement, trade shows) Marketing initiatives $1M (Open office space) New Office Space Total investment: $5M Invest heavily in engineering, sales and internal structure

Banking New Vertical Long-term revenue split adds a new core vertical Increased revenues & Reshuffle marketing priorities New Vertical Others 5% 15% Banking 20% Others Core Verticals Core Verticals 80% 80% Banking Refocus sales and innovation to target new banking industry and core verticals

Invest heavily in engineering, sales and internal structure Optimistic: Improve Clients + Structure 3X Conservative 1.6X 1.6X 3X Invest heavily in engineering, sales and internal structure