About the client
World Products Ltd (WP) started life over 14 years ago as an online distributor for a range of healthcare brands.
Its offering has evolved in recent years – and Managing Director Ash Shah and his team now champion a full service, distribution-partnership model to help businesses across the globe expand their reach on Amazon Marketplaces worldwide.
To date, the company has generated over £25 million in sales for its clients.
The challenge: Setting the business up for a new chapter
Joining the family business after he finished university, Ash had always run the books himself. While he could grasp the basics, and enjoyed working with the numbers, he knew that he needed to free up his time to focus on moving the firm into its next phase.
When Ash initially approached Dartcell in November 2022, the company’s finances were looking healthy – but he understood that change was needed in order to accelerate WP’s growth.
Looking further ahead, he recognised that intermittent advice from his accounting firm wasn’t going to cut it; he needed a strategy, and to formulate a plan, he required the support of someone who had practical experience in taking companies like his to the next level.
The solution: Strategic financial advice that goes well beyond the numbers
After several discussions over a number of months, WP engaged one of Dartcell’s experienced Finance Directors, Michael Anthony. Michael got to work immediately by:
- Introducing weekly cash flows
- Developing comprehensive management accounts
- Putting the right controls in place to support WP’s plans for faster expansion
- Identifying barriers to growth – and exploring ways around them
- Renegotiating credit terms with WP’s suppliers to unlock cash opportunities and avoid borrowing and/or arranging external investment
- Moving WP over to a new banking provider to ensure the company is earning better interest on its cash reserves
- Guiding the team on larger purchases and investments, particularly with regards to new automation machinery for WP’s warehouse environment
Alongside finding ways to help WP save more, grow faster, and reinvest its cash into the right areas, Michael has also been instrumental in:
- Exploring different layers of management to prepare the business for a more effective internal structure
- Holding board meetings to communicate key financial data back to stakeholders AND collect information and insights for use in WP’s wider strategy
- Engaging in general conversations regarding the broader economy, and how the global state of play may impact WP’s plans
- Placing the right amount of pressure on Ash and the team to make informed, ahead-of-the-curve decisions that clearly align with their growth objectives
The results
In the 9 months WP has been working with Dartcell, it has experienced its fastest growth to date. Cash flow is good; margins have improved; and Ash and his stakeholders have a much better idea of how they’re going to create the business they want.
Ash says: “I was initially nervous about working with a part-time FD, but I have been impressed with Michael’s proactive approach to problem-solving, and his ability to prepare himself and the rest of the board for significant change within his organisation.”
Final words from Ash Shah, Managing Director at World Products Ltd:
“Because our business is continually evolving, we knew we needed help from someone who could help us move at a faster pace than previously. It’s been wonderful to work with a fractional finance director who is so keen to learn and so genuinely invested in our success.
“We can see that Michael truly wants to immerse himself in our business. Joining forces with him has been a very fascinating and refreshing experience.
“Michael is clearly a very capable finance professional, but having partnered with him for some time, I now see him as more of a mentor. Personally, I have seen countless benefits to contracting in someone who can not only improve our financial position but become a vital sounding board for myself and the rest of the management staff on all kinds of issues that affect our operations.
“The long-term plan is certainly to ensure Michael and Dartcell become an even greater part of our business.”
Final words from Michael Anthony, Finance Director at Dartcell:
“Since starting, we’ve got to grips with WP’s cash flow and have a much better idea of how we’re going to get the business to where we want to be. It’s been a pleasure working with Ash and the team to date and I’m excited to see where this journey takes us.”