• Facebook
  • Youtube
  • Twitter
  • LinkedIn
  • Flickr
  • Slideshare
  • Rss
  • Donate
  • Subscribe
SBDC Tampa Bay
  • Home
  • Solutions
    • Certifications
      • Business Certifications
      • Minority-Owned Business
      • Woman-Owned Business
      • Veteran-Owned Business
    • Consulting & Training
      • Training
      • Training Calendar
      • Consulting
      • Schedule a Consultant
    • Business Solutions
      • Growth Acceleration
      • Government Contracting
      • International Trade
      • Starting Your Business
      • Disaster Preparedness
      • Student Teams
      • Organizational Development
  • Resources
    • Business Resources
    • Frequently Asked Questions
  • Insights
    • Blog
    • Media Inquiries
  • About Us
    • Mission / Vision
    • Consultants
    • Meet the Staff
    • Meet Our Clients
    • Partners / Affiliates
  • Training
    • Training Calendar
    • On-Demand Training
  • Results
    • Success Stories
    • Economic Impact
  • Locations
    • Tampa
    • Hillsborough
    • Hernando County
    • Pinellas County
    • Highlands, Hardee, DeSoto
    • Polk County
    • Manatee
    • Sarasota
  • Contact
  • Schedule a Consultant
  • Search
  • Menu Menu
Blog

Software company learns as it grows with SBDC business assessment

Featured News, Success Stories

count5 of Sarasota County
Consultant
“When I was in college, the way I studied was with flash cards and I would write a question on one side of the flash card and write the answer on the other side,” Eric Blumthal, co-owner of count5, said. “I’d go through 10 flash cards a day and when I knew the answer by heart, I’d put it aside and work on things I didn’t know. That’s kind of how our software works.”

count5 started 10 years ago in Atlanta, eventually making its way to Sarasota as Blumthal relocated his family in June 2011. Its platform, Q, features a proprietary notification system used to train employees. The subscription model software allows organizations to subscribe and create their own content for employees to be quizzed. “Typically, our weekly user engagement level is higher than practically any employee-facing technology out there. On a weekly basis, we get 95 percent completion by all target employees.”

While Blumthal knows the brain science behind the technology, being a small business has presented challenges outside his realm of experience. In talking with a fellow business owner and HuB resident in Sarasota, he learned of the Florida SBDC at University of South Florida Sarasota-Manatee, and was instantly intrigued.

“I reached out to Anita about a week later,” he said. “I wasn’t sure what to expect but I was certainly interested. The best way I can describe it is like a little hybrid of having your own Accenture combined with your own little Gartner group.”

Blumthal quickly engaged the Florida SBDC at USF Sarasota-Manatee to complete a business assessment on count5, which included a comprehensive look at the financials and areas for future growth.

“SBDC provided our financials in a format that made it much easier to visualize and to make decisions – that was huge for us,” he said. “A big realization to us revolved around receivables and cash flow.” Due to gaps in operations, the assessment revealed that the company was leaking money because of poor execution on receivables. “It had nothing to do with customer satisfaction or not delivering on our promises. It just had to do with our operations.”

The team went straight to work on attacking the low-hanging fruit, shoring up operations. “That’s made a significant difference in our overall cash flow,” Blumthal said. He added that the management team is now using the assessment as the foundation to determine what the next go-to-market product will be.

The assessment has allowed count5 to launch a formal marketing strategy and they are working to fine tune their messaging moving forward, all with the assistance of the Florida SBDC at USF Sarasota-Manatee. According to Blumthal, 2015 revenues are expected to improve 500 percent over 2014, due in part to the assistance received from the Florida SBDC at USF Sarasota-Manatee.

“Having resources available that can not only provide some research and insights on what we’re doing and how we compare to other organizations, but also overall consultation on finances, receivables and how to structure the business for growth, is essential,” he said.

Blumthal will continue to work with the Florida SBDC at USF Sarasota-Manatee consultants as he moves forward in his business. “When you’re trying to formulate a business plan, or you’re trying to grow you’re company or you’re trying to decide what the next steps are, these are resources that typically cost companies a lot of money that you can take care of now and it’s not going to cost you a dime. It’s just going to cost you your time and it’s time well spent.”

Share this entry
  • Share on Facebook
  • Share on Twitter
  • Share on LinkedIn
  • Share by Mail
https://sbdctampabay.com/wp-content/uploads/2015/06/count5-Pic.jpg 768 1152 admin /wp-content/uploads/2021/10/Locked-Host-Logos-Horizontal-USF-Small-e1635274663378.png admin2015-06-16 21:05:572021-12-15 18:51:42Software company learns as it grows with SBDC business assessment

Categories

  • Business Essentials
  • Business Plans
  • Buying a Business
  • Certifications
  • COVID-19
  • Crowdfunding
  • Disaster Preparedness
  • Economic Development
  • Finance
  • Government Contracting
  • Growing Your Business
  • Healthcare
  • Human Resources
  • International Trade
  • Marketing
  • Press Releases
  • Radio and Podcast
  • Starting a Business
  • Success Stories
  • Success Stories Videos
  • Tech Commercialization/Tech Transfer
  • Veteran
  • Web and Social Media

Email Newsletters

Sign Up Now

Contact Us

Regional Office Contact Info

USF CONNECT
3802 Spectrum Blvd., Suite 201
Tampa, FL 33612

813-396-2700

Subscribe to Our Newsletter

Florida SBDC Network

The Florida SBDC at the University of South Florida is a member of the Florida SBDC Network, a statewide partnership program nationally accredited by the Association of America’s SBDCs and funded in part by the U.S. Small Business Administration, Defense Logistics Agency, State of Florida, and other private and public partners, with the University of West Florida serving as the network’s lead host institution. Florida SBDC services are extended to the public on a nondiscriminatory basis. Language assistance services are available for limited English proficient individuals.

Logos

Business Assistance

USFMuma

State Designated as Florida’s Principal Provider of Business Assistance [§ 288.01, Fla. Stat.]

© Florida SBDC at USF | contact webmaster
Great customer service creates repeat customersLake Wales company fishing for business with Florida SBDC at USF
Scroll to top