This Is What Transformation Looks Like

Problem

• Maintain cash flow critical to the growth of the Company

Solutions

• Weekly/daily review of critical accounts receivable accounts with key stakeholders
• Weekly review of accounts receivable with entire management team
• Investigate and solve any operational issues before non-payment becomes a problem

Results

• Funded 600% growth over 11 years without establishing a line of credit with the bank

Problem

• Revenue growth and profitability stalled

Solutions

• Invested annual profits back into the company
• Enabled hiring of key employees
• Invested in profitable new lines of business
• Weekly review of profitability of all business lines with upper management
• Examined proper use of corporate assets

Results

• Company revenue and profitability grew by 600%
• Sold company at 9X sales multiplier

Problem

• Contractor failed to maximize profits/potential

Solutions

• Reviewed all existing processes, procedures and general ledger entries
• Expand his business by hiring qualified individuals in operations and accounting
• Assisted in hiring/training key operations and accounting employees
• Redesigned the accounting systems with an emphasis on effective, efficient and simplified methodology
• Coached accounting manager to become controller

Results

• Produced timely Balance Sheet and Income Statements (Due by the tenth of the following month)
• Produced accurate financial data enabling the owner to identify growth opportunities and mitigate risks
• Improved revenue and profitability

Problem

• All of current year financial data was incorrect

Solutions

• Redesign all Percentage of Completion (POC) Procedures to ensure compliance with GAAP standards and management use
• Designed Excel Spreadsheet to calculate Earned Revenue according to GAAP standards
• Design and implement monthly reconciliation processes for the Balance Sheet and the Income Statement

Results

• Balance Sheet and Income Statement restated for the entire year
• Utilized POC data to help manage the business - Operations and Finance Departments

Problem

• Contractor was in need of a strong VP of Finance

Solutions

• Coached existing Service Manager to become the VP of Finance
• Taught him basic bookkeeping/accounting skills
• Taught him how to read, understand and reconcile Balance Sheet and Income Statement

Results

• Managed monthly balance sheet and income statement generation
• Able to make financial business decisions based on his understanding of Balance Sheet and Income Statement
• He later became President of the company

Problem

• Helped implement EOS (Entrepreneurial Operating System) company wide

EOS is a set of business concepts, principles and tools to run a more successful business

Solutions

• Member of L10 Leadership responsible for EOS implementation
• Implement EOS across the entire company (all departments)

Results

• The contractor's key business components were enhanced - Vision, Data, Process, People, Issues and Traction

Problem

• Unable to make sound business decisions based on the available financial data

Solutions

• Redesigned the accounting systems with an emphasis on effective, efficient and simplified methodology
• Design and implement monthly reconciliation processes for the Balance Sheet and the Income Statement

Results

• Produced accurate and timely Balance Sheet and Income Statements (Due by the 10th of the following month)
• Performed monthly analysis of gross profit