The greatest growth in RIVA'S history
RIVA Clothing, producing responsible clothing, wants to offer people a better alternative to fast fashion by bringing to the market wardrobe staples that are produced responsibly and transparently.
The growth to its current dimensions has happened gradually. With the help of a new manufacturer and a clearer sense of direction in 2019, the company was able to employ both entrepreneurs, and the idea of employing others began to smolder in their minds. In the winter of 2020, Henna Kautto from The Startup Factory began to lure the entrepreneurs into the incubator.
"Applying to The Startup Factory's Incubator was not an obvious choice for us, and we were quite critical of it. However, even before the incubation period, the regular coaching we received and the results of our regular work convinced us. During this time, we saw what benefit two years of coaching could bring," Riku and Eeva say.
In the spring of 2021, RIVA joined The Startup Factory's Incubator, and the most significant growth spurt in the company's and entrepreneurs' history began:
- exceeding half a million in turnover, and the highest revenue growth in RIVA's history (we exceeded our targets by over 100,000 euros)
- the premises grew fivefold
- the number of employees doubled
- things developed in a more professional direction
- personal growth as entrepreneurs
"Henna has been the best coach. She's a great match for us! We've gotten really good tips from Henna for the company and life in general, and our personal chemistry has been good," Riku says.
Do you have a scalable business idea? Get to know The Startup Factory's Incubator and its selection criteria."
Overview and financial management under control in the Incubator
The most important help for the company in the Incubator, is the management of the whole entity.
"We have learned to better grasp the big picture. Through this, we have noticed that many obstacles that seemed big actually turned out to be quite small" - Riku Keihäsniemi, RIVA Clothing
"During the incubation period, the most important things in everyday life have become established. We also achieved our financial goals and exceeded them by a good margin, which we can be proud of," continues Eeva.
The monthly business review provided by the incubation training has brought regularity, among other things, to monitoring the company's numbers.
"The incubator has helped us understand finances better. We follow the cash flow statement much more regularly, which means we can quickly notice if sales are slow or if we are not reaching our goals. This in turn motivates us to take action to achieve our desired level," says Riku.
"The incubator community has the right mindset. Seeing the work of other similar entrepreneurs who are pursuing the same things motivates and inspires us," Riku rejoices.
"Everyone has a responsibility to take care of themselves"
Development and growth have also occurred in entrepreneurs who have put their well-being first more than before.
"There is certainly still room for improvement in our own well-being, but at least we understand the overall picture of well-being better and pay more attention to, for example, our endurance and exercise. Thanks to the training, we have understood how important well-being is in entrepreneurship," summarizes Riku.