Saturday, 21 July 2018
 
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My Role as A CFO

 

Lighthouse Business Advisors, LLC is dedicated to
 

Coaching Business Owners

To Achieve Their Dreams©

We help business owners define their options, evaluate the consequences, and make choices that will lead them to Success.

 

What We Do Print

What we do…

 Coach Business Owners To Achieve Their Dreams

 We help business owners to reach their goals, to take their business to the Next Level.


Typical projects include:
 

  • Management and/or ownership succession in a family business
  • Sale of a business
  • Acquisitions for growth, market expansion or increased capabilities
  • Business plans
    • The most common reason many companies do a business plan is to borrow money or raise capital; we can do that.  But the most important reason to do a plan is to make the right things happen.
  • Helping business owners to effectively define their goals and set realistic, achievable objectives.
  • Coaching business owners and their management teams on how to effectively address the issues and make real progress toward their goals.


We have:

  • Helped a group of three brothers resolve the differences that surfaced when dad died, thinking he had named a successor, but without real acceptance by all three.  This company now is fully controlled by one brother, another is employed there, and one has retired.  Not everyone got what they wanted, but the company has survived and is healthier (financially and managerially) than it has been in years.
  • We are continuing to coach a professional service firm as they transform their business from a reasonably successful service business to a well-positioned leader in their industry.  They are now capable of initiating projects that they couldn’t dream of performing a few years ago.
  • Helped a company sell their business.  A business they thought couldn’t be sold, and they were prepared to shut it down.  The shareholders received more money than they thought possible, and the transaction took only four months from start to finish.  We also located the buyer (from among several prospects referred to the client.)
  • Helped a client obtain working capital financing under difficult restraints: conditions that caused many lenders to decline the opportunity to propose.
  • Helped several clients improve their financial position and the relationship with their secured lenders after finding themselves transferred to the “Special Assets” department by their bank (That’s the politically-correct term for the Workout Group).  That means that the bank is going to focus a lot of attention on your business, and either get you to refinance somewhere else, or to liquidate your company so that they can get paid.  This usually happens because they have decided that there is a substantial risk that they won’t get paid if they don’t do something overt.  It’s no consolation that you have never missed a payment.  If you haven’t achieved the covenants in your loan agreement, you loose a lot of control.  But we can help resolve the issue if we are consulted before the relationship has gone sour and all the options are foreclosed.


Here’s an overview of the Process we typically use in most engagements:

 

  • Understand the current situation: internal factors, external factors, resources available and constraints to action
  • Identify potential solutions or courses of action that will generate progress
  • Evaluate the possible results and or side effects of each possible action
  • Discuss options and impacts, consider alternatives
  • Decide
  • Implement
  • Follow up
  • Evaluate the results
  • Adjust the plan
  • Continue implementing
  • Success!
  • Evaluate the results
  • Adjust the plan
  • Continue implementing
  • Success!


So, the questions are:

Where do you want to be… (next year, five years, etc.)

How can you get there?

What do we have to do TODAY, to make that happen?