Client profile: Zipfian Consulting
- In order to fund the development of new software, cover patents and protection costs as well as taking the new software to market, Gavin needed to raise £75 000-
- After being rejected by the banks, Gavin searched the internet and discovered Pension-led Funding, and hasn't regretted it since.
“I am going to have my best Christmas ever!”
These words were not said lightly by Gavin Allen, owner of Zipfian Consulting.
Gavin started his career training as an accountant and worked his way up to Financial Controller of a global organisation prior to switching to professional consulting.
With over 25 years working in the Finance and IT sector, implementing, consulting and providing solutions to organisations wanting to streamline their financial processes, Gavin decided to set up Zipfian Consulting.
Zipfian Consulting work with executive and senior consulting services, guiding organisations through their selection of technology and process improvements. In addition, Gavin developed a software solution of his own.
In order to fund the development of the software, cover patents and protection costs as well as taking the new software to market, Gavin needed to raise £75 000.
Like many entrepreneurs setting out on a new venture, Gavin had a business plan, had a road map of where he was going to take his company, but as with many start-ups, his lack of accounts history meant that the bank said “no.”
Not to be deterred, Gavin then hit “google” and after researching several options and companies he shortlisted Pension-led Funding as he was impressed with the vast array of information and the customer experiences detailed in the case studies section on the website.
Gavin hasn’t regretted his decision since and described the experience from beginning to end as “glowing”.
What impressed Gavin was that “the process went at a pace I was completely happy with, I was given every opportunity to ask questions, put the brakes on when needed and accelerate when I was completely happy. I also clearly understood the legalities and commitments required by myself to utilise my pension funds to instigate Pension-led Funding.”
“Each step was handled in such a professional manner that I was completely comfortable and reassured in a product I had essentially found on-line”.
After consulting with David Bentley, his Pension-led Funding adviser, Gavin decided to transfer his pension into a SIPP to support the development, patents and marketing of the new software.
What appealed to Gavin was that not only was he able to fund the venture through his pension, but also was able to utilise his investment to enrich his pension pot for future retirement.
With guidance from the pension trustees, Gavin set the interest rate at 15% with a five-year capital repayment term.
What now for Gavin and Zipfian Consulting?
7 months after releasing the funds, Gavin has sold his software product to 27 clients with a turnover of £730k and with future extensions of the software already planned Gavin is looking at an annual turnover of between 2 and 3 million within the next 5 years, pretty amazing for one man with a vision.
All this has been achieved through thorough research, not only of the market place and developing a fantastic product for his target audience, but also through perseverance, not taking no for an answer, and contacting Pension-led Funding who were able to assist with the vital funds to bring his vision to life.