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Yritystehdas Sep 6, 2022 9:54:29 AM

Confidence and competence for managing a company’s finances

Oskari Perttilä and Eino Liinamaa are students, entrepreneurs and best friends. In the autumn of 2020, they had the idea to set up their own padel hall, which is now ready to open its doors in the spring of 2022.

The journey from the idea to a finished padel hall has been a wild ride with no shortage of surprising turns. The Startup Factory has had the opportunity to be involved in the exciting process, since Oskari and Eino took part in the Idea to Business course and Business Coaching.

Among other things, the Idea to Business course involves polishing your product and service concepts, creating profitability and cash flow statements and planning sales and marketing, i.e. developing your entrepreneurial capabilities in a variety of areas. Learn more about Idea to Business coaching.

The Business Coaching helps an existing company develop itself based on a plan prepared with a designated coach. The coaching takes a year and is personalised based on the entrepreneurs wishes. In the case of Oskari and Eino, the Business Coaching specifically focused on cash flow management and the monitoring of key figures related to financial management. Would you like to develop your company – see more information about Business Coaching!

 

Padel hall idea sparked by having to fight for court access

Oskari and Eino have been best friends since small children. They originally got acquainted on the Tahko golf courses. Golf was a staple in the boys’ lives for years, and they had already planned a future with the sport.

“We were both supposed to become the next Tiger Woods. It was our only goal in life as children. We attended a golf academy during upper secondary school. We spent winters playing golf in Spain and completing schoolwork on the side. During our military service, however, we changed our minds. We figured that since we weren’t among the Finnish elite, we wouldn’t make it internationally. We eventually applied for school and gained study places in Jyväskylä. I went to Jyväskylä University School of Business and Economics and Eino went to Jamk University of Applied Sciences”, Oskari Perttilä

For their studies, the pair of friends moved to a shared flat in Jyväskylä. They had abandoned their golf-related dreams, which had been replaced by studies and other hobbies. Oskari was the first to discover padel, but Eino shortly caught his enthusiasm. The young men soon realised that others had also found the sport, since it was very challenging to secure court access.

“We were so excited by the sport that we would have wanted to spend all day playing. Unfortunately, this wasn’t possible, since there weren’t many courts in Jyväskylä. In the autumn of 2020, we decided that Jyväskylä needs a real padel hall”, Perttilä recalls.

 

Business Coaching provides confidence for financial planning and divestment

Oskari and Eino began working on the idea at a rapid pace. In the spring of 2021, they participated in the Startup Factory’s From an Idea into a Business course and continued with Business Coaching immediately afterwards. According to the young entrepreneurs, the Startup Factory’s knowledge and support for financial planning and management were the most helpful. When an entrepreneur has a thorough understanding of these aspects, anything is possible.

“I personally had fairly strong financial expertise from business school, but the Business Coaching enabled me to deepen my knowledge. Our coach provided us an excellent basis for preparing a cash flow calculation and we used to it meticulously go through the in and outs of our funds and finances. It was great that the coach looked at our financial calculations with a critical eye, since it gave us confidence in what we were doing,” Perttilä says cheerfully. 

Thanks to the realistic and well-prepared financial plans, Eino and Oskari secured funding and a partner for their company, which enabled them kick the business operations off very quickly. As the project picked up speed, a sudden turn of events took the pair by surprise: before the padel hall had even opened its doors to other enthusiasts, Eino and Oskari found themselves in the process of trade negotiations.

“In the spring of 2022, we sold the entire share capital of Padel Jyväskylä to Padel Adder Oy. The acquisition plays an important role in Padel Adder’s growth strategy that aims to make the company the largest padel chain in Central Finland. As a part of the sale price, we also redeemed Padel Adder shares, so we will be involved in Padel Adder’s activities as minority shareholders”, Perttilä says.

“It was amazing to become part of a larger who and take padel in Central Finland to the next level”, Perttilä adds.

Eino and Oskari describe the trade as one of the most educational experiences of their lives. The fact that there was more than one potential buyer made the process particularly interesting but also gruelling.

 

“When you learn about the financial aspects of entrepreneurship properly in one go, you can use the knowledge to set up new businesses. I find that an entrepreneur doesn’t have to put all eggs in the same basket, and that it is great to many projects on your table at the same time.”
- Oskari Perttilä

“The entire process was like a rollercoaster different kinds of emotions, high and low. That said, we are happy with the end result. We think we made the right decision getting on board with Toni and Jaakko at Padel Adder.”

 

Competence in handing business finances sparks a desire for serial entrepreneurship 

Eino and Oskari have by no means been sitting on their hands waiting for the padel hall to be completed. The valuable lessons and confidence gained from the Startup Factory have led the young men to a situation where they refer to themselves as serial entrepreneurs. They have leveraged their new financial competence and enthusiasm for entrepreneurship to participate in the establishment of Ball Day Oy, which focuses on sports events, and the Tahgou festival, which will be held in July 2022 in the same place where men originally became friends.

“When you learn about the financial aspects of entrepreneurship properly in one go, you can use the knowledge to set up new businesses. I find that an entrepreneur doesn’t have to put all eggs in the same basket, and that it is great to many projects on your table at the same time.”

“We will maintain our involvement in Padel Adders operations to the degree originally intended, so padel will remain a part of our lives. Still, the divestment slightly reduces our responsibilities, which means that we will be able to focus on other projects”, Perttilä describes, bursting with enthusiasm. 

 

“I can very warmly recommend the Startup Factory’s Business Coaching. We have gained a wealth knowledge and confidence for entrepreneurship and managing business finances.
- Oskari Perttilä

 

In order to ensure profitable business operations, it is very important to handle financial matters carefully from the start. Taking shortcuts in preparing financial calculations will come back to bite you eventually. Oskari and Eino have understood this, which is why they have been very conscientious about their company’s finances and building a profitable business.

“I can very warmly recommend the Startup Factory’s Business Coaching. We have gained a wealth knowledge and confidence for entrepreneurship and managing business finances. As a result, we are able to make sensible plans that realistically account for risks and opportunities. Our coach has also played a key role in forming important relationships and looking after us young boys when needed”, Perttilä says in summary.

You can read more about Padel Adder and on social media @padeladder.

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