“Financial advice, schminantial advice!” Too often, business managers dismiss the need for such services. Yet, these same individuals have no hesitation entrusting their personal savings to investment advisors. Why should one’s business finances be treated differently?
Ask yourself: Could my business benefit from expert financial advice?
Well, could it? Most of our clients at Worldwide Local Connect have no Chief Financial Officers or Treasurers to guide them. We fill that gap, offering a range of financial services. We help companies deal with challenges like these:
Poor Cash Flow
Revenues are growing but cash balances are stagnant. The company is always short of cash; founders are sacrificing compensation.
Inadequate Financial Reporting
The company has a simplistic chart of accounts and/or relies on QuickBooks reports for guidance. Management reports lack KPIs or similar metrics. Budgets are missing or are automatic extrapolations of prior year results.
Investor Pitch Assistance
Why did the pitch fail? How can it be improved? Investor rejections seldom come with explanations. Friends and family are supportive, not candid.
Due Diligence Preparations
How to prepare for the purchase or sale of a business? Should I clean up my accounting files? What to expect in a due diligence checklist and review? How long will the process take?
How to manage a 50:50 partnership? What to do about an uncooperative shareholder? Should we structure an equity incentive program? What is a 409A valuation and how can I get one? Buy/Sell agreements? Key man life insurance?
Lack of Planning
How to prepare a credible 5-year financial projection? A break-even analysis? A capacity analysis? Am I pricing my products or services correctly? Is my business adequately insured? Are the terms of a contract manufacturing agreement acceptable?
So, who needs financial services? Most every small business. Yours, too, probably. Not simply for help with issues like those noted above. Just having an experienced, small business, financial expert on call can be equally valuable. Worldwide Local Connect is here to help.
Contact me for a free initial consultation. And stay tuned for my next posts about small business financial services.