Are you a successful entrepreneur? Maybe the story below is your own, or maybe you could just use some help with growing pains. We regularly help our clients solve their growing pains problems. Following is just one case involving an entrepreneur and his growing business.
Max was a happy, energetic, outgoing, friendly, and creative person who started out with a great idea and managed to turn the idea into business success.. His company grew. Max attempted to manage the larger company, but, as it turned out, he didn’t have time to do what he was best at and what he really wanted to focus on. He was beset with all sorts of administrative, banking, accounting, financial reporting, personnel, information systems, and management problems. Frustration and sadness set in; the once happy Max was drowning in his own success. What could he do?
If Max has the foresight to call Wyndelts & Co., here’s what WE will do:
- Proactively push, pull, and cajole the entrepreneur to some serious soul- searching and management training. We have successfully used Management Action Programs in cases like his. Continue to push, pull and cajole on the systems, organization structure, personnel, tax, and financial management issues.
- The results from Management Action Programs typically direct the entrepreneur to decide to hire a professional manager. Or the owner may decide to become a better manager himself or herself (this is frequently not an option). At a minimum the entrepreneurs should get a good look at how and why others see them.
- Hiring a professional manager (and we can help recruit this person) is often a good solution because he can free up the entrepreneur to do what he does best: find new products, open new stores, etc.
- As his business and finance management arm, we are happier too. Instead of putting out fires we can now focus (with the GM) on other aspects of the business, such as information systems, organized tax planning strategies, goal-setting, financial reporting and banking relations. to name just a few.
Max is a composite of several real people. He is now free to be creative and to vertically integrate, etc. The combination of a finding a good general manager and allowing Max his freedom have resulted in a significant upturn in sales, a downturn in costs, improved morale and reduced turnover.
As a proactive accounting firm, Wyndelts & Co. can absolutely help with your company’s growing pains. Give us a call or send us an email.