© 2019 by Bill Maimone Business Consulting

SERVICES

Financial Statements & Budgets

In order to successfully manage today's complex business environment, it is essential to have timely, accurate financial statements each month to measure the performance of the company and its key personnel. A yearly budget/forecast, broken down by month, should be in place by the start of the fiscal year. The budget/forecast should be compared to actual results as part of a monthly review of the performance of the company.

Legal or Contract Issues

It is strategically important to do business with contracts that are beneficial to the business in the event a dispute arises. It can make a great deal of difference to have the business and legal agreements favorable to your position and have litigation take place at your convenience.

Regular Financial Review

Bill has served on numerous boards of directors in his career over the last 25 years, contributing in the financial, legal, strategic and overall business areas. He has served on "Advisory Boards" for numerous companies, helping company's to formalize regular financial review of its operations, strategic review as required and to address key business issues as they arise.

General Business Planning

Most business owners know that a multitude of general business problems will arise on a regular basis. Bill has vast business experience in helping to efficiently address these issues, in areas such as difficult/non-paying customer’s, a broad range of employee issues, executive compensation and incentive plans, joint venture partner issues and vendor management and selection. It helps business owners to have a seasoned executive to be an efficient sounding board for analyzing these issues and resolving them.

Strategic Planning

It is difficult to grow a business in today's competitive environment and to increase profitability. A key step is a well thought out budget/forecast for the next fiscal year. This includes an analysis of the trends of the business, specific products or services performance over the last 3 years and what competitive forces are impacting the Company performance. Strategic planning where by a company examines its strengths, weaknesses, opportunities and threats, it is the logical extension of the yearly planning. A much deeper and focused look at the Company, its employee’s, products and competitive position. 

Cash Flow & Profitability Management

Cash Flow Management

A key aspect of the monthly review is to access the inflows and outflows of cash and compare them to the forecast. Depending on the type of business, the better the business performs the more cash that is needed to grow the business. 

Profitability Management

An area of business management that is frequently neglected is to analyze the profitability of customers and to put in place strategies to increase profit margins by raising prices or lowering costs. On a larger scale it is important to analyze the profitability of each business segment to identify problems so that corrective action can be taken.

Litigation Management

The most important aspect of dealing with legal issues is to avoid litigation, except in very rare situations. Careful drafting of Employee manuals, company contracts and other legal documents is very helpful in avoiding litigation. Addressing difficult situations early in the process, taking proactive action to resolve them is crucial. In addition, most business owners are not experienced in managing litigation, either in controlling their own attorney's fees or in directing the litigation toward appropriate business objectives. 

Sales & Use Tax Issues

Extensive experience in dealing with contract and license agreement structure to avoid sales and use tax problems. Negotiated numerous sales and use tax audits in multiple states.

Advisory Board Member

Bill has served on numerous Boards of Directors and Advisory Boards in his career over the last 35 years, including companies in, software, distribution, manufacturing, hotels and real estate, consumer products and a charter airline. He has contributed to the Board oversite in the financial, legal, strategic and overall business areas. He has served on "Advisory Boards" for numerous companies, helping companies to formalize regular financial review of its operations, strategic review as required and to address key business issues and positioning for sale, as they arise.

Key Business Issues

One of the most important issues in my consulting is how to grow the business. Internal growth is most common and a logical first step to increase revenue by expanding products or services, expanding to new geographic areas, including out of state or foreign markets and expanding distribution channels. Typically a later step is to look to acquire other companies or product lines. There are many issues related to legal exposures, employee issues, attracting talented employees and incentive compensation plans to grow the business.