Case Studies
Red Idea delivers vibrant thinkingTM to our clients competing in today's evolving business landscape, through our insight, expertise and approach.
Various recent consulting engagements measurably helped our clients achieve the following:
-Make critical decisions in their businesses.
-Become more profitable and cut costs.
-Better position their brands.
-Sharpen their fundamental strategy.
-Do “deep dive” brainstorming.
-Improve their financial analysis.
-Write or evolve their business plans.
-Execute key sales and marketing initiatives.
-Create effective strategies for growth and raising capital.
Read on for more in-depth Case Studies:
Pangea Organics
Our work with Pangea Organics dates back to 2004, and this initial work was influential in developing the original vision for what would later formally become Red Idea. The initial project was collaborating with Pangea’s CEO, Joshua Onysko, to write a formal business plan for a promising business manufacturing and selling eco-centric skin and body care products. With the help of Pangea’s financial analyst who compiled the financial projections, the finished plan was instrumental in helping Pangea secure its first formal round of outside funding. Just four years later the company finished 2008 with revenues of $5 million, growing its revenues 13x over the prior four year period. Today, Pangea is recognized in their industry worldwide for their innovative approach to both packaging and products, and for their unwavering commitment to eco-centric, sustainable products and principles. CEO Joshua Onysko has appeared in countless newspapers and magazines, and is a sought-after speaker around the country.(continued)
Pangea Organics (continued)
Our relationship and work with Pangea continues. Red Idea is completing a strategic summary and financial projections for a new division of Pangea.
Red Idea applauds Pangea Organics for its commitment to the environment, and for demonstrating that such principles can be aligned with financial success, and in fact can create an even stronger brand, company, employee well-being, and growth.
"Our work with Red Idea has given us a consultant who deeply understands entrepreneurs, our business, and what makes us unique. We've very successfully leveraged their skillsets on key strategy and business planning projects, saving us significant time internally, and allowing us to stay focused on the areas in which we excel. They have a broad understanding of many facets of the business world, are a great sounding board, and continue to be a valued advisor to Pangea Organics."
-Joshua Onysko, Founder/CEO, Pangea Organics
Rags Consignments
Rags Consignments was founded by Margaret Miner in 1995 in Boulder. The store is the quintessential expression of “karmic couture™.” Rags is a modern, hip resale clothing store for women, consigning top-name brands and styles. The store has become a favorite hub for Boulder-area women, providing a great way to consign from their own wardrobes, and shop amongst thousands of unique, in-fashion clothing, shoe and accessory items. Rags crossed $1.4 million in annual sales revenue in 2008 and Margaret Miner was written up in Entrepreneur magazine.
Red Idea began working with Rags in mid 2008 with the specific goal of positioning Rags to raise investment capital to grow into multiple locations in Colorado, and then nationally. Red Idea’s work has spanned numerous areas of the business from industry research, financial analysis, margin and unit economics improvement, marketing and brand strategy, team development, customer research, and next-stage business plan creation. (continued)
Rags Consignments (continued)
Significant strides were made particularly in the store’s unit economics, and the core goal of readying Rags for investment and expansion was achieved.
As mentioned elsewhere on our website, Red Idea partners selectively with our clients. We felt that Rags had all of the elements we were looking for in a “Venture Works” partnership. With the initial consulting groundwork now successfully accomplished, Red Idea has transitioned from consultant to partner, with a strong belief that the Rags concept can grow to many locations, first in Colorado and then nationally.
"Red Idea is the kind of resource we should have hired years ago! They have made a tremendous difference in countless aspects of our business, substantially increased our profitability, and have been instrumental in readying us to raise investment capital for expansion. They’ve demonstrated integrity, professionalism and practical know-how throughout our relationship. They have more than lived up to their promise of ‘vibrant thinking’ and we are excited for our continued efforts with them."
-Margaret Miner, Founder/CEO, Rags Consignment
Green Alpha Advisors
Red Idea began working with this client in 2008, providing a range of strategic services from business plan review and evolution, core strategy discussions, marketing strategy and presentation work, fundraising strategy and Advisory Board development. Our work continues with Green Alpha as they work to pioneer a new breed of environmentally-focused investment managers.
Green Alpha is a SEC registered investment advisor with offices in Boulder and Silicon Valley. The firm invests on behalf of high net worth and institutional clients, with a focus on U.S. public corporations which meet Green Alpha’s criteria as contributors to an eco-efficient economy and Environmental Revolution. Similar to the Industrial Revolution and Technological Revolution, Green Alpha’s thesis is that we are on the precipice of the Environmental Revolution where innovation—driven both by financial opportunity as well as necessity-- will address critical global challenges ranging from climate, water, energy, transportation, agriculture, etc. Green Alpha is identifying and (continued)
Green Alpha Advisors (continued)
investing in companies already public traded, who are emerging or already leading examples of corporate sustainability. As corporate, governmental and environmental organizations become more and more aligned to face environmental challenges, Green Alpha’s expects capital flows to continue growing toward companies ahead of this curve, who are pioneering the path toward the “next economy.”
Green Alpha launched the GANEX on December 30, 2008, the Green Alpha Next Economy Index. Available to the firm’s investors via separate accounts, this investment vehicle is comprised of over 80 cross-cap and cross-sector corporations traded publicly in the U.S. markets. The firm also offers actively traded accounts focused in the same universe of names. Earlier in 2008, Green Alpha received a seed round of investment from The Sierra Club, the Club’s first venture investment in its over 100 year history.(continued)
Green Alpha Advisors (continued)
“Red Idea represents everything we were hoping to find in a consultant. They are very knowledgeable about our specific industry--investment management--and creative, resourceful and responsive. There’s no doubt in my mind that Red Idea has been a value-add for us. Ross has been very efficient with his use of time to the point that he really does not waste a minute, and he spent a lot of time getting to know us and what we do before taking us on as a client. His personal and professional contacts have provided great networking for us, and Ross is very effective and tactful during introductory and follow-on meetings. In general, we’ve been very impressed and pleased with Red Idea’s versatility and depth of expertise. Red Idea has our highest recommendation.”
-Garvin Jabusch, Chief Operating Officer, Green Alpha Advisors
ten20
Red Idea began working with ten20 in mid 2008. Our work continues to date, with the goal of positioning this successful retail concept for future investment and expansion. This ever-popular retail concept was also conceived by the founder of Rags Consignments. ten20 has become a favorite spot for Boulder-area women who frequent this hip, fun, new kind of nail and waxing spa. ten20 is all about a good time—treating yourself or joining your friends for a Sex and the City kind of experience. Complimentary Diet Coke, M&Ms and a giant-screen TV all are part of the experience.
As their website says, they “set out to create the ‘tweener spa…‘tween the cheapy little nail shop on every corner and the chi-chi over-the-top spa with over-the-top prices to match.” (continued)
ten20 (continued)
With a successful first store in full swing, ten20 has also become a Red Idea Venture Works Company. Our consulting work has included financial review, analysis and modeling, margin improvements via labor cost control and pricing strategy, and change management. Significant improvements were made to ten20’s unit economics during 2008, while working to minimize the impact on staff and customers. 5280, Denver’s leading social magazine, awarded ten20 the “Editor's Choice Best Manicure and Pedicure” for 2008 in the Denver/Boulder region. Credit goes out to ten20’s staff and many customers, who keep the party going at ten20!
Cocona, Inc.
Red Idea worked directly with the Chief Marketing Officer of Cocona, Inc. on this brand strategy and positioning engagement. Headquartered in Boulder, Cocona is a recognized innovator of performance fabric technologies created from natural sources, such as recycled coconut shells and volcanic minerals. Cocona fabrics are used to create the fastest drying performance garments on the market today, and have additional performance properties including UV protection and odor management. Cocona’s technology is licensed for use by over 60 brand partners, such as Eddie Bauer and The North Face.
Red Idea collaborated on this “deep dive” exploration regarding how best to introduce Cocona’s second product line, in terms of name, messaging and brand synergy with the well-established original product. Red Idea helped achieve a solution with the client that solved the problem in a simple, elegant manner, creating a consistent brand platform for innovative follow-on products from Cocona. Additionally, Red Idea helped brainstorm a name evolution for the parent company, as well as a new tagline for the Cocona brand. (continued)
Cocona, Inc. (continued)
“It is so refreshing to work with Red Idea. I think we’re approaching this key engagement in the right way, and we appreciate the intellectual curiosity and diligence put to work on our behalf.”
-Jon Erb, Chief Marketing Officer, Cocona, Inc.
Mountain Sun Pub & Brewery
Red Idea began our work with Mountain Sun in 2008. This Pub & Brewery business owns and operates three restaurants and a brewery, with two restaurants in Boulder and one in Denver. The original restaurant started in Boulder in 1993, and was a hit from the beginning. A favorite gathering place with the feel and vibe of neighborhood pubs, Mountain Sun’s restaurants have an ardent fan base. The brewery has won medals around the globe for its beers, including six medals from the Great American Beer Festival.
Our consulting work continues with Mountain Sun. It has been focused on helping their business evolve its finance/accounting systems to keep up with the organization’s growth to three restaurants, and to address the need for a separate, clearer view of the individual restaurant and brewery operations. This big leap toward a more actionable, sophisticated view of the company’s finances has been led by a Red Idea project team with strong expertise in multi-unit restaurant/ brewery finance and operations. (continued)
Mountain Sun Pub & Brewery (continued)
“Red Idea delivered on their promise of ‘vibrant thinking’ by approaching our project needs with practical intelligence—creating a project team with highly relevant industry and project-related expertise. They are helping our organization make very significant steps in how we approach our business from an accounting, financial reporting and ongoing financial analysis standpoint. They’ve made my brain hurt from their Excel modeling from time to time, but it’s all great progress. Ask them to give you one of their baseball caps—it’s actually cool enough to wear.”
-Kevin Daly, Founder/Partner, Mountain Sun Pub & Brewery