DESIGNING A SUSTAINABLE
GROWTH PLAN FOR
STARTUPS

A CASE STUDY OF REMOTE BOB

ADVISOR

Dr. Andre Slowak

9/9/2022

MSc Global Business Management

University of Roehampton

STUDENT

Table of
Contents Page

I Presentation of Research problem 4

II Project Focus and Objectives 6

III Research Methodology 10

IV Main Findings 12

V Conclusion & Discussions 18

VI Actionable Recommendations 20

I Presentation of Research problem

For startups and small businesses, growth in sales and employment is crucial to

survive and succeed in a competitive market and ever-changing environment

(Georgellis, Joyce and Woods, 2000)

Remote Bob : a dedicated Virtual Assistant startup

– immense market

-a specific business model which requires both sales and

employment growth to be in sync in order to keep the quality of

service at the desired level

-vision: to become the number one global community for Virtual

Assistants

3

1. What are the current issues that the

4

company is facing?

2. How does the literature suggest

resolving the issues?

3. How can the company benefit from

the findings of this study?

Working questions

How to grow sustainably?

I Presentation of Research problem

II Project Focus and Objectives

Business Growth in

Early Stages

Six stages of business growth:

Sustainable Business

Growth

Slow expansion = risk of

becoming stagnantinitial stage, survival, growth,

expansion, flexibility and growth.

In order to survive, the company

needs to adapt and grow

(Solymossy, 2009).

As the company grows and the

market changes, new structures

and strategies are needed but

can also potentially threaten the

company’s growth if not properly

handled.

Effective Growth

Management

Key activities for managing growth

effectively:

careful planning and execution

using growth mindsets

using dynamic work designs

using the scientific method to

integrate several disciplines

(such as strategy and design

thinking)

Rapid expansion = risk of struggle

to finance the expansion

Resources, personnel, and

infrastructure are key areas for a

growing startup.

5

Comparing key challenges and problems to a

theoretical framework to develop recommendations

and solutions

II Project Focus and Objectives

OBJECTIVES

Identifying the key challenges and problems the

company is currently experiencing as it grows

Reviewing of pertinent theories and reflecting on

learnings from the project

6

II Project Focus and Objectives

Main focus:

maintaining a stable cash flow

The company is in process of

forming a set of new

standardised activities and

itsestablished for

growth stage –

regulations

current

expansion.

In order to grow sustainably, the

key area of focus is maintaining

7

a stable cash flow.

Recognising market

trends

Meeting clients’

expectations

Fulfiling employees’

needs

II Project Focus and Objectives

Phase 1:

Problem Identification

Phase 2:

Data Analysis

Phase 3:

Problem and Solution

Discussion

Determing key issues for the

business, current and potential

future problems in business

growth and what the

company’s top management

considered the most pressing

issues and challenges that the

company is facing.

Comprehending the business

8

development of the company –

the foundation for further activity

planning, recommendations and

strategy creation.

Presenting key findings based

on the conducted analysis with

proposals on how to modify

current activities that are

pointed out as the potential

cause of the problems.

III Research Methodology

A systematic combining process – theoretical frameworks, empirical fieldwork, and case analysis

are all developed simultaneously

comparing and contrasting theory with observation

(Dubois and Gadde, 2002)

10

Method
Proprietary data analysis

Concrete data was gathered which

descriptions weren’t presented in a social

context.

Purpose: answering questions, identifying

trends and patterns, and extracting insights

11

III Research Methodology

Marketing data, sales conversion

rates, employee data, client

data, business plan

Internal Data
Provided

Method
Interview

Interview Partners

CEO and Founder, and

Operations Manager

5 Virtual Assistants

Two points of view: business development in

general and the well-being of Virtual

Assistants.

Interviews conducted with both higher

management and employees

Semi-structured interview with higher management

E-interview with Virtual Assistants

IV Main Findings

Key issues discussed from two

perspectives

Company’s perspective

Subjective

Issues connected to first-

hand experience and

regular business operations

in the company

Researcher’s perspective

Objective

Incorporates conclusions

from both theoretical

framework and empirical

observation

11

IV Main Findings

Company’s perspective

1. Constant Shift in Virtual

Assistants

2. Trouble in contracting a

global team

Non-compete agreements

Difficulty in hiring Assistants

directly

Clash with original vision

directly hire long-term Virtual

Assistants, invest in their

training and specialisation,

and build the largest global

virtual assistant community

3. Uncertainty in the

number of working hours

Unpredictability in the number

of hours Virtual Assistants will

be paid for on a monthly basis

Five of the forty assistants

have long-term projects that

12

guarantee the number of

hours they will work and

receive payment for

14

IV Main Findings

Researcher’s perspective

1. Gap in Specific Education

and Experience in

Management Roles

2. Services are Not Tailored

for a Specific Market

The market for Virtual

Assistants is immense

Services are not tailored for a

specific industry

Client loses trust easily as they

often don’t gain any additional

value

3. Lack of Stable Cash Flow

and a Major Shift in Clients

Frequent change in both the

staff and the clientele

45% of clients lost in 2022

Most common reasons for

cancelling the service:

– lack the resources

– the service didn’t live up to

clients’ expectations

-clients don’t see the long-term

benefits

Two of

team’s

the management

seven members of

Remote Bob had previous

managerial expertise

Difficulty in foreseeing market

trends and potential problems

15

IV Main Findings

Company’s current growth stage: expansion

Key areas for investigation:

Virtual Assistants

Administration

Service

Clients

Management

Demand for hands-off

management, restructuring and

creating systems to improve

effectiveness and efficiency

16

IV Main Findings

Mindmap of cause and effect relationships

related to unsustainable growth

IV Main Findings

Lack of a research and development department

Inability to keep up with new market trends and business

opportunities

Lack of industry-specific services to better meet the needs

of the clients

Virtual Assistance as a side gig

Gap in the way of contracting Assistants

16

Growth in sales and employment should be carefully

managed.

V Conclusion & Discussions

Crucial thing the business can do is to continually

increase its expertise and start actively recognising

opportunities on the market.

The company needs competent management,

effective operations, steady cash flow, and a

strong operational foundation.

17

19

service better suited for clients’ requirements

additional value will be brought to the client

stable cash flow

V Conclusion & Discussions

It is important to follow to “adapt or die” approach

A number of issues must first be addressed in order to

deliver a high-quality service, prevent the client or

assistant turnover, and maintain growth

It is crucial to take advantage of the growing need for

business outsourcing, virtual assistants, and remote

work environments

Result:

VI Actionable Recommendations

Focus on sales growth

Closing more sales

The company has more money

Investing more in internal training

Level of service is higher

19

VI Actionable Recommendations

Claim a niche and select

a particular industry that

the company would be

targeting

Provide both the management

team and Virtual Assistants

with additional training

tailored specifically for their

departments or projects

21

Change the hiring process;

hire assistants who are

available full-time and give

them the same training

program for a specific

industry

Bibliography

Dubois, A. and Gadde, L.-E. (2002). Systematic combining: an abductive approach to case research. Journal of

Business Research, [online] 55(7), pp.553–560. doi:10.1016/s0148-2963(00)00195-8

Solymossy, E., 2009. Entrepreneur and Organization: Symbiotic Change and Transition. In: Entrepreneurship

and Business – A Regional Perspective. s.l.:Springer-Verlag Berlin Heidelberg, pp. 269-290

21

Thank you

9/9/2022

MSc Global Business Management

University of Roehampton

ADVISOR

Dr. Andre Slowak

STUDENT