Publications
Publications
- March 2024
- HBS Case Collection
Teamworks: Tackling a Forecasting Fumble (A)
By: N. Louis Shipley and Stacy Straaberg
Abstract
In late March 2018, Teamworks CEO Zach Maurides learned Q1 2018 sales were at risk for a large forecasting miss. Founded in 2004, Teamworks’s software application assisted support staff in messaging, scheduling, and sharing documents with collegiate and professional athletes. The company served 550 customers (made up of 2,000 teams), first signing collegiate sports teams and athletic departments before branching out to sports governing bodies and professional sports teams and leagues. The size of the Q1 forecasting miss was related to a still-pending contract with the National Collegiate Athletic Association (NCAA), the largest deal in Teamworks’s history. Teamworks Vice President of Sales Corey Richardson was working on a backup plan, but with little time left in the quarter, it was possible Teamworks would close Q1 with sales of $303,714 (33%) out of a $910,000 forecast. The forecasting issue was especially worrisome since Teamworks had recently earned a premium valuation during its Series B funding round and Maurides was preparing for a board of directors meeting that included Teamworks’s new lead investor. Before this point, Teamworks’s forecasts had been close to target. What had happened? And how would Maurides share the news with the board?
Teamworks: Tackling a Forecasting Fumble (B) case: After enduring a large forecasting miss in March 2018, Teamworks was back on track in January 2020, having made significant changes to its sales and forecasting processes. CEO Zach Maurides was now looking to expand into product categories beyond Teamworks’s flagship communication, scheduling, and file management platform. He weighed the pros and cons of organic growth versus inorganic growth, assessing three companies for possible acquisition.
Teamworks: Tackling a Forecasting Fumble (B) case: After enduring a large forecasting miss in March 2018, Teamworks was back on track in January 2020, having made significant changes to its sales and forecasting processes. CEO Zach Maurides was now looking to expand into product categories beyond Teamworks’s flagship communication, scheduling, and file management platform. He weighed the pros and cons of organic growth versus inorganic growth, assessing three companies for possible acquisition.
Keywords
Acquisition; Business Growth and Maturation; Communication Strategy; Decisions; Forecasting and Prediction; Business Cycles; Technological Innovation; Sports; Growth and Development Strategy; Resource Allocation; Marketing; Sales; Business Strategy; Expansion; Sports Industry; Technology Industry; United States; North Carolina
Citation
Shipley, N. Louis, and Stacy Straaberg. "Teamworks: Tackling a Forecasting Fumble (A)." Harvard Business School Case 824-057, March 2024.