OTTY | Case Study
Michal Szlas – OTTY
Ben gives me clarity and confidence to make the right choices for my business
I had some doubts about outsourcing our finances – but Ben proved me wrong
I’m Michal Szlas, founder of OTTY. We’re an online mattress retailer, headquartered in Leeds and selling a specialist range of luxury mattresses and accessories at affordable prices.
I’ll admit I wasn’t sure about using a portfolio FD: before launching OTTY, I’d never actually had a cash flow forecast or a proper profit and loss analysis. But as we looked into investment opportunities, these things began to matter more. I also didn’t want to find myself surprised by VAT bills or unexpected invoices, and needed to set firmer budgets. So I spoke to a couple of different FDs to see what they could offer.
At first, I couldn’t see the value in paying an FD’s rates. Then, I found Ben – and straight away, we clicked. I saw he had the high level of accountancy skill I needed to help us raise money, making his fee an investment in business development. Plus, his down-to-earth personality made it clear he was the right fit for OTTY from the start.
Ben helps me make realistic predictions so I can plan ahead properly
Ben started working with us in-house, looking at our month-end accounts, budgets, forecasting and cash flow. Once we’d got this in place, we then needed his support more strategically. He became a key member of our team in an outsourced advisory role, shifting our focus from business growth to increasing our profits.
I’m not a worrier, but I do want to have as many facts as possible in front of me before I make a big decision. Ben showed me there’s a way to foresee what might happen through our forecasts, meaning I can plan ahead and not discover unpleasant surprises later. I can see where every pound is going, how much I can spend on marketing, and what my growth profit margins are. Plus, on a personal level, it gives me a better understanding of business in general. It’s a really proactive way of working.
I like that Ben will always be straight with me – even if he’s giving me news I don’t want to hear!
Ben is great at communicating with honesty and ease. He explains everything clearly and concisely so I understand the reasons why something I’m doing is – or isn’t – working, and he gives me ways to
work around any problems. Nothing is ever more difficult than it needs to be, as Ben always has an answer and never pulls the wool over my eyes. That’s exactly what you need as a business owner.
Ben is firm proof that there’s huge value in investing in an experienced FD. I highly recommend getting in touch with him – he’s completely transformed how I run my business.