You’re an expert in your business. But if you’re like most CEOs, you may not have the deep background in finance, operations or advisory board development that would allow you to navigate opportunities and challenges optimally. Not to mention, the time to step back and ascertain the big picture.
BottomLine fills the gap by giving you the specific expertise you need – whether your company is currently growing, getting ready to grow or growing too fast.
Here are just a few instances where we can make a significant difference in your success:
Your company is underperforming.
You need experience, without the C-level salary.
Your company is growing significantly.
You need a temporary C-level team member to fill a vacancy.
Your internal teams need coaching/mentoring.
You do not have an exit plan for your business.
Your company is underperforming: You need an experienced C-level advisor to help identify poor performance drivers and/or inadequate controls and to work with you to implement corrective actions. Interestingly, underperformance sometimes occurs when a company grows too fast without the proper financial infrastructure. In this case, you need an experienced C-level advisor to not only take corrective actions, but also to assist you in developing an infrastructure capable of supporting your company’s growth.
You need experience, without the C-level salary: An outsourced advisor offers the expertise of a C-level employee, but on a part-time, contract basis. This way, start-ups and small to mid-sized companies – whether they are for profit or not for profit – can still benefit from customized strategic expertise.
Your company is growing significantly: Growing businesses have a long list of issues that need attention (expansion plans, integration of an acquisition, due diligence requirements, preparing for financing, staffing issues – just to name a few). Only a seasoned executive can develop the appropriate infrastructure to support revenue growth, increase efficiency and establish credibility with bankers, investors and the board.
You need a temporary C-level team member to fill a vacancy: The loss of a senior level financial or operational executive puts stress on the organization, especially a growing organization. Contracting with an interim CFO or COO who’s adept at quickly adapting to and understanding new territory, greatly facilitates a seamless transition to new management.
Your internal teams need coaching/mentoring: The proficiencies and practices a company requires from its staff can change over time. We can support your business by assessing your current teams against your overall business needs and also against what best-practice departments look like. When gaps are identified, we can coach/mentor current team members and/or assist you in finding additional human resources. Whether working with existing staff or transitioning new teams or individuals into your organization, our ability to quickly build trust and credibility throughout the coaching/mentoring relationship enables your departments and your company to get up to speed fast – and smoothly.
You do not have a plan for exiting your business: Unfortunately, 75% of owners of privately held companies do not have an exit plan. They’ve invested significant sweat equity, without doing anything to ensure they’ll get the most out of their business when they’re ready to sell or retire. Exit planning helps owners identify their readiness for exit, improve and maximize the value of their businesses and establish an actionable plan for themselves, their team and for incoming leadership.