While Bullet Solutions has been successful in regional and local markets in Europe, it has at time struggled with the typical growing pains most startups encounter in the areas of sales and marketing. The majority of traction to date has largely been attributed to targeted University accounts without a long term strategic approach to the country and total available market share globally. In addition, there had not been a comprehensive lead generation strategy in place associated with each region, nor a tangible set of KPI’s or quotas attached to the sales organization. Lastly, the company has branched out beyond targeting Universities and expanded its product offering to attract hotels, retail, smb markets and other vertical market segments in order to grow and accelerate revenue.
FullFunnel was brought in to evaluate key functional areas of the company that would achieve three primary objectives:
“Scott Sorochak, one of the partners at Blarney Ventures and SVP at FullFunnel, came in and immediately rolled up his sleeves and began working with us on pretty much all facets of our business”, said Pedro Fernandes, Co Founder & CEO of Bullet Solutions. “Scott was able to come in, isolate the key areas of our business that needed restructuring and quickly helped us execute at a tactical level to improve our business”. By focusing first on lead generation improvements, Bullet Solutions was able to dramatically increase the quality and volume of marketing qualified leads and has seen a 300% increase in the amount of sales qualified opportunities for its sales team in the past 2 months alone. In addition, with a completely revamped and motivating compensation and strategic territory account plan in place, the sales team witnessed a significant improvement in overall rep productivity by region almost overnight. Lastly, by deeply analyzing other areas of the company’s P&L, several key expense reductions were made that ultimately reduced the company’s cash burn and coupled with revenue improvements, has helped shorten the path to corporate profitability. “FullFunnel has been instrumental in working with our existing investors to be an incremental operational arm of our company and execute rapidly yielding dramatic improvements throughout our organization”, Pedro added.
Bullet Solutions is a company based in Porto, Portugal, that develops scheduling and timetabling software. The company’s leading product ensures the real-time automatic class scheduling for over 100 global Higher Education Institutions. The Bullet Solutions’ scheduling and timetabling platform can save Institutions up to 90% of the effort and cost associated with the manual and complex processes of scheduling. With the new optimized processes, Universities saved more than $15M Euro in time and costs over the past decade.
“FullFunnel has been instrumental in working with our existing investors to be an incremental operational arm of our company and execute rapidly yielding dramatic improvements throughout our organization”
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