GrowthLab Solutions

BACKGROUND

Introduce your business and what you do there?

I’m the managing partner of Tactica. We’re a digital marketing agency based in Europe. We also have a physical presence in the US, specifically focused on the east coast.

OPPORTUNITY / CHALLENGE

What challenge were you trying to address with Growth Lab?

We were looking for a business consultant to help us with strategy and execution as we we were trying to expand our business.

SOLUTION

What was the scope of their involvement?

Growth Lab has done everything to help us set up our business. They’re in charge of our logistics needs, our LLC registration, and more. They also help us prepare for financial audits and they ensure that we comply with IRS regulations.

In addition, they’ve helped us identify our target market as well as the right location for our shop. After that, they’ve assisted us in setting up our shop.

What is the team composition?

Rron (COO) is our account manager and our main point of contact. We also regularly work with Rinor (Founder & CEO) and Jon (Founder & CFO) and have had occasional contact with 1–2 analysts.

How did you come to work with Growth Lab?

They reached out to us because they were looking to build up their clientele. We needed their services, so it was mutually beneficial to work together.

How much have you invested with them?

We’ve spent $11,000–$12,000.

What is the status of this engagement?

We began working together in August 2020, and our partnership is ongoing.

RESULTS & FEEDBACK

What evidence can you share that demonstrates the impact of the engagement? 

They’ve achieved every milestone we presented to them, such as finding the right location, setting up our shop, and more. They’ve also worked at a good speed.

How did Growth Lab perform from a project management standpoint?

They manage the entire engagement based on the goals we set and have met all our deadlines well. They also run the meetings and get our approval at each step of the process. Any delays that we've faced have been due to our processes or something on our end. Overall, they’re available and responsive, and we communicate through Slack.

What did you find most impressive about them?

Growth Lab provides excellent services, and they’re friendly. They feel like they’re part of our team rather than an external partner.

Are there any areas they could improve?

They need to focus more on scalability and hire more people to grow their business while maintaining the quality of service they provide.

Do you have any advice for potential customers?

Be honest about everything regarding goals and budget. If you come to an agreement on expectations, Growth Lab will not fail you.

BACKGROUND

Introduce your business and what you do there.

I’m the founder of an electronics wholesale company. We sell computer parts and electronics, mainly to our wholesale and direct customers around Asia and Europe.

OPPORTUNITY / CHALLENGE

What challenge were you trying to address with Growth Lab?

We wanted to expand our market and sell more of our products through a B2C setup.

SOLUTION

What was the scope of their involvement?

Growth Lab conducted thorough market research along with market references based on the information that they collated. The research was comprised of current market trends, our competitors, and financial forecasting and modeling on different spans of time.

Additionally, their team performed number crunching to help us develop strategies on how we could improve our business. The main deliverable was a thorough report on how to expand our business in the B2C sphere, as well as venture out of our direct customers.

What is the team composition?

We mainly communicated with their project manager, but a total of three resources from Growth Lab worked with us on this project.

How did you come to work with Growth Lab?

Growth Lab's team approached us and presented ideas based on our company's requirements. Hiring their team was an easy decision for us to make because they offered feasible and impressive solutions.

How much have you invested with them?

We spent $5,000.

What is the status of this engagement?

The project ran from September–November 2020.

RESULTS & FEEDBACK

What evidence can you share that demonstrates the impact of the engagement?

We dedicated resources from our internal team to work on Growth Lab's market research results, and we're still in the process of implementing everything. The information that their team collated for us has been valuable in helping our company achieve our expansion goals.

How did Growth Lab perform from a project management standpoint?

We mainly communicated through email and phone calls. They also arranged Google Sheets for our team to monitor. Growth Lab followed an agile approach — all the project timelines were met. We had bi-weekly meetings to check on their progress, but those happened pretty quickly since we were always assured that they worked efficiently.

What did you find most impressive about them?

Growth Lab's resources undoubtedly had sufficient knowledge and experience that helped us determine what we needed to succeed within our business sphere, even internationally. They’re very well educated, and they always came prepared for their tasks.

Are there any areas they could improve?

I didn't encounter any areas that needed improvement — Growth Lab delivered satisfactory results.

Do you have any advice for potential customers?

Trust Growth Lab's educated team to deliver the ideas and results that your business needs.

BACKGROUND

Introduce your business and what you do there.

I’m the chief administrative officer for a carpet retail company. We sell carpets and curtains, among other things.

OPPORTUNITY / CHALLENGE

What challenge were you trying to address with Growth Lab?

We needed to update our accounting practices to be up to date with our international finance operations. That was very important for us, and Growth Lab has helped us a lot with all of these things.

SOLUTION

What was the scope of their involvement?

First, Growth Lab monitored our accounting process, from issuing invoices and accepting payments to forecasting and budgeting. After that, they recommended we used QuickBooks, Stripe, and Float. Their team helps us adapt and integrate these tools into our accounting system.

What is the team composition?

It’s a team of four people, including a manager and technical staff.

How did you come to work with Growth Lab?

We’d been working with the same accounting system for 10 years, so we decided to update it. I asked some companies and friends for recommendations, and some of them recommended Growth Lab. I got in touch with them through LinkedIn. 

How much have you invested with them?

We spend around €200–€300 per month (approximately $250–$350 USD).

What is the status of this engagement?

We started working with them in March 2021, and it’s ongoing. We’ll continue to work with them for years.

RESULTS & FEEDBACK

What evidence can you share that demonstrates the impact of the engagement?

We took on the project so that we could be more efficient and save more time. Due to our updated system, we generate monthly reports easier and in a matter of minutes. Growth Lab has also helped us with budgeting and forecasting for the next month or year. Because of this, we can plan and allocate resources more efficiently.

How did Growth Lab perform from a project management standpoint?

We mostly communicate through email or phone. They’re very friendly and responsive, going above and beyond to help us any time we’ve needed it.

Growth Lab has also been very professional. They involve us, sent us daily reports, and accomplish everything on time.

What did you find most impressive about them?

The most impressive thing is that Growth Lab’s team is very professional. This project has been very effective because it has helped us save time, which was the main reason we hired them. We’re very happy and love the job they do for us.

Are there any areas they could improve?

Nothing that we can think of. They’re almost perfect.

Do you have any advice for potential customers?

We’d highly recommend them because their team is very friendly and can help you with anything you need at any time of the day. They do a great job.

Growth Lab is a new company, and they have been very successful. Over the next few years, they’ll be working with so many companies. I don’t have any doubts about that.

BACKGROUND

Introduce your business and what you do there.

I’m a managing partner for a building materials manufacturer.

OPPORTUNITY / CHALLENGE

What challenge were you trying to address with Growth Lab?

We were struggling with operations management and workflow, so we needed someone to provide managed IT services and implement a system to help us do better.

SOLUTION

What was the scope of their involvement?

Growth Lab provided IT consulting to help us better organize our company. They implemented various software, including Salesforce and a cloud data storage system.

What is the team composition?

We worked with five people, including a team lead.

How did you come to work with Growth Lab?

Some of our friends referred Growth Lab to us. We saw some of their work and trusted that they would do a good job.

How much have you invested with them?

The project cost €10,000 (approximately $12,000 USD).

What is the status of this engagement?

We worked together from March–September 2020.

RESULTS & FEEDBACK

What evidence can you share that demonstrates the impact of the engagement?

We were satisfied with Growth Lab’s work. The system they designed allowed us to work better.

How did Growth Lab perform from a project management standpoint?

I wasn’t involved in the meetings, but some of our internal teammates had regular meetings with the Growth Lab team.

What did you find most impressive about them?

Growth Lab respected deadlines. Additionally, they proposed solutions that we didn’t think about. They were a young but promising team that was passionate about their work.

Are there any areas they could improve?

No, I can’t think of anything they could’ve improved.

Do you have any advice for potential customers?

I would recommend them to anyone.

BACKGROUND

Introduce your business and what you do there.

I’m one of the founders of an online retail company that sells computers, gadgets, and electronics.  

OPPORTUNITY / CHALLENGE

What challenge were you trying to address with Growth Lab?

We needed help with development.

SOLUTION

What was the scope of their involvement?

They created some creative internal reporting dashboards. The team also did some financial forecasting and helped us with our growth strategy. They created a spreadsheet of where we’re heading for next year. They used Microsoft Power BI and Excel.  

What is the team composition?

I worked with two of their founders.

How did you come to work with Growth Lab?

They reached out to us. The team saw our website and saw the potential to do something better for us.

How much have you invested with them?

We spent £6,000 (approximately $8,300 USD).

What is the status of this engagement?

We started working together in January 2020, and we wrapped up in June 2020.

RESULTS & FEEDBACK

What evidence can you share that demonstrates the impact of the engagement? 

While online sales naturally improved during COVID-19, Growth Lab’s research helped us a lot. The reporting improved our workflows and their financial forecasting helped us learn which areas to focus on.

How did Growth Lab perform from a project management standpoint?

The project was well laid out and planned properly. The team did everything that they needed to do and kept in touch with us. We used email and phone to communicate, mostly. We also met in person a few times.

What did you find most impressive about them?

They’re young professionals that understand how online retail works. It was exactly what we needed.

Are there any areas they could improve?

They could improve their growth strategy. If they reached out to us earlier, we could’ve gotten ahead earlier. Otherwise, their services were quite good.

Do you have any advice for potential customers?

Their services are well laid out and the team is very professional. Ask for their recommendations and expect their analysis. They’ll come to the table with excellent research on your company.