Issue: Create a commercial bank which values owners and operators of independent businesses, and old fashion service – practical business advice, savings and investment services, lending and financial services.
Solution: Assemble directors and investors, create the business plan, build financial models, and work with banking regulators.
Result: Joined company Board. Raised three rounds of capital, opened five offices, merged two additional banks, purchased a mortgage bank, listed the company with NASDAQ, grew to $420 million in assets.
Issue: Growth stalled, bad systems conversion underway, lack of controls, no budget, no cash flow forecast, little liquidity for shareholders.
Solution: Reorganize the company; build a budget, cash flow forecast; replace management; correct conversion process and errors; create operating plan and processes, manage workflows; build sales.
Result: Joined company Board. Built a financial model, budget, and cash flow forecast; fixed the company; returned to growth and profitability, sold the company to a publicly traded competitor.
Issue: Fast growth, lots of merger activity, numerous financial and operating systems requiring consolidation, Y2K issues.
Solution: Create an information plan, build an internal task force, install project management and change management processes, define requirements, create RFP, manage the selection and implementation process.
Result: One system implemented throughout the company in five states, on time and on budget, the company was then taken public.
Issue: Great science, no business background, need to change the company's position in the market place, need seed capital.
Solution: Build a business plan, create a "road show", define attributes of a good "partner", meet with potential partners, build a strong scientific advisory board.
Result: Company signed a research development agreement, successfully earned an NIH grant, signed a license agreement for diagnostic kits, and continued research on therapeutics.
Issue: No succession plan, many family owners not familiar with the business, one next generation family member wished to join the company as an employee.
Solution: Set up a Family Business Council, set up rules for future family member's qualifications to join the company as employee, manager, shareholder, board member.
Result: Family Business Council has been training the family members for over 4 years, rules for joining the company were set up and agreed to, younger family member successfully joined the company, and non-family management remained focused and involved.
If these case studies sound familiar, you are not alone. We have helped others. We can help you. Contact us today.
Read more Case Studies...
Here is a tool we use to help clients “right size” their payroll company. We know that one of the key services we provide to help clients is to help them manage growth and manage expenses.
Try the Tool (xls)
© 2009 Henshaw/Vierra, LLC