Fellstead Case Studies
See the work.
Detailed examples of how Fellstead approaches two kinds of business questions: understanding what is happening inside an existing company, and designing what should come next.
The library includes both client work, when publishable, and clearly identified illustrative cases created to demonstrate Fellstead's methodology and work product.
Diagnosis / Design / Evidence
Two directions
Company Diagnostics examines the business that already exists — its Vision, Value, Market, System, and Momentum — to identify contradictions, structural weaknesses, risks, and questions that require validation.
Business Design develops the business that needs to exist next — connecting the customer, offer, economics, revenue model, go-to-market, operating model, processes, organization, and measures into one coherent system.
01 / Company Diagnostics
Understand what is really happening.
These cases demonstrate how The 5 Signals™ is used to look across the company rather than treating visible symptoms as isolated problems.
Harborline Systems, Inc. · The 5 Signals™ · B2B SaaS
Growth Without Economic Progress
A fictional Series A B2B SaaS company whose revenue is still growing while the economics, repeatability, and operating quality underneath that growth are deteriorating.
Detailed case study · PDF
Northstar Fieldworks, Inc · The 5 Signals™ · B2B SaaS
The Company That Outgrew Its Original Model
A fictional vertical software company that successfully expanded beyond its original product and customer base, but continued to operate with assumptions, roles, pricing, processes, and decision paths designed for a much smaller business.
Detailed case study · PDF
About these cases
Much of our work involves confidential company information and is not suitable for public disclosure. The cases below are illustrative and use fictional companies and simulated data. They are designed to show the kinds of problems we work on, how we structure the analysis, and what a Fellstead engagement can produce — without representing any specific client or confidential engagement.
02 / Business Design
Design what should exist next.
These cases show how Fellstead turns an opportunity, transition, or unresolved business question into a coherent business product before major resources are committed.
Asterlane AI · Business Design · B2B SaaS
Designing the Business Behind an AI Product
A fictional founder-led AI company is considering a product that helps B2B software teams complete enterprise security, procurement, and compliance questionnaires using a verified company knowledge base and source-linked AI answers.
Detailed case study · PDF
Cedarstone Group· Business Design · B2B
From Services to a Productized Business
A fictional professional-services firm with strong client relationships and recurring analytical work, but a business model still dominated by custom projects, senior labor, founder involvement, and engagement-by-engagement delivery.
Detailed case study · PDF
About these cases
Proof of work, not marketing summaries.
Each PDF shows the depth and structure of a Fellstead engagement: the starting situation, evidence and assumptions, analysis, proposed design or diagnostic findings, unresolved questions, risks, and what to validate next.
Illustrative cases use representative company scenarios. They are not presented as client engagements and do not claim fabricated outcomes. Their purpose is to demonstrate how Fellstead thinks and what the work product can look like.
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A clearer view changes the next decision.
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© 2026 Fellstead
The 5 Signals™ is a proprietary framework developed by Vitaly Solten