"It has been a pleasure working with my SBDC Business Advisor for Next Phase Solar in 2011. Having held leadership positions in early stage companies, they bring valuable insight to key business development and financing initiatives. With their support, we were able to refocus our business plan and significantly increase revenues, expand our team and secure investment. I look forward to working with the SBDC in 2012."
Next Phase Solar provides Operations and Maintenance services to organizations with investment in Solar Energy. They bring 10 years of experience maintaining commercial and utility scale PV (photovoltaic) systems and focus on quality and customer service. Their dedication to driving reliability in the Renewable Energy Industry makes them a valuable partner for any organization that is interested in playing a role in the operation of PV plants.
Calling on Next Phase gives solar system owners increased return on your investment, and the peace of mind that their investment is being managed by experienced professionals.
Next Phase Solar was experiencing fast growth and realized a need for investment capital to fully benefit from all of their opportunities. With limited resources, Adam, the CEO, was stretched in too many directions and the needed to refocus on their business development activities and fine-tune the financial model in order to attract investment. The company has some significant demand in the East Coast and were looking at setting up a satellite office in New Jersey.
The following areas and topics were addressed:
- Sales Focus: Sales, Marketing and Business Development was focused on Northern California and the East Coast Expansion was postponed. As a result the business plan had to be updated to expand locally and attract customers, employees and investors.
- Finance: A financial model was rebuilt with high level of detail to demonstrate growth in both their consulting and field services offerings.
- Investment: Bank Loans, Equity Investment and Convertible Note Options were evaluated in detail. Business Loan package and Investment Pitches were fine tuned for presentation.
Next Phase Solar ended fiscal year 2011 (12/31/11) with the following successes:
- Revenues: Revenues increased by 500% over 2010.
- Head Count: Employees more than doubled from end of 2010. In February 2012, Next Phase secured new office space.
- Bank Loan: Next Phase Solar received $100,000 Line of Credit from Chase Bank
- Investment: With an updated investment pitch, Next Phase Solar was able to secure investment capital in its first Friends and Family round.