International Infant Development Center

IIDC – CEO to raise finance; drive growth in preparation for business sale

Background

The IIDC was a small Vancouver based company specializing in providing educational material to health professionals on the early social, emotional and intellectual development of infants under the age of five.

The business was small and underfunded which limited it in a number of ways:

  • It lacked resources to develop more and better quality content.
  • Without a greater depth of content sales costs were prohibitively high.
  • The content lacked scientific credibility, which while the content was accurate that was difficult to communicate to potential customers.
  • The lack of scale made a business sale impractical

Strategy

The goal was to build the company for a trade sale, through increasing the quality and quantity of content, which is the key value driver of media organizations in this market.

Implementation

Firstly sufficient investment was procured to allow the business to grow, and to allow the new professional investors to be able to exercise business control, to ensure the business moved towards their business goals.

The training content of the business was the key area of investment, and focused on a number of areas:

  • Recruiting the renowned Professor David Elkind a world leader in child development as our Chief Scientific Officer, to give the content scientific credibility.
  • Building content to cover all the key parts of a child’s social and emotional development.
  • Moving to primarily video material using “Talking Babies” under the brand name “Just Ask Baby”
  • Filming using an external film company who had the required experience.

As the portfolio of content we had to sell grew, sales costs as a percentage fell and allowed us to invest in a North American telephone sales operation. As with Hcareers,, the market varies greatly dependent on where you are selling, so a regionally focused flexibly structured sales operation was developed.

As the business matured we commenced selling the material online direct to parents. The concept of how a child develops socially, emotionally and intelectually is new to parents, but in the longer term this should have provided IIDC with a second market stream.

 Outcome

IIDC had a considerable library of high quality content, which was the basis for the sale of the business to a US based medical training organization.

 

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"Mark is that person whom years later, I respected more each day. His outlook, vision and attention to the end goal, made him an incredible COO. He used these approaches by outlining his expectations. Mark provided his management team with flexibility to perform and remain accountable to the decisions that led to a profitable, productive and high activity environment. He asked tough questions that stirred performance and kept all involved focused. That is why he is successful. September 23, 2009."

Keesha Rosario, Director of Sales / Account Manager, Hcareers

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