Comprehensive Investor Presentation Secures $35 Million in Second Round Financing
As the company grew, significant amounts of additional equity financing were necessary to achieve desired product launch objectives. However, the organization was a startup in a relatively new consumer technology space, had zero prior history or brand equity, relatively low sales revenue and there was tremendous competition entering the marketplace.
Developed a comprehensive investor presentation in order to secure absolutely critical capital investment. Personally pitched the business model and company potential, along with providing comprehensive product demonstrations to six primary private equity and institutional investment groups in U.S. and international markets.
As a result, $35 million in second round, or "B" financing, was acquired.
Improving Corporate Governance Procedures Obtains $120 Million in Essential Credit
The organization's historical lender went out of business, requiring an immediate replacement for more than $120 million in long-term financing and short-term credit facilities. However, it was a difficult financing environment, and a lack of profitability, combined with weak corporate governance, hindered the acquisition of financing.
Established benchmarking and forecasting processes. Improved corporate governance procedures, retaining outside counsel and accountants to create new business models deemed attractive for new lenders. Identified potential lenders and made all necessary presentations to secure financing.
A partnership with a lender and financial commitment was secured, and the company was able to secure the necessary $120 million in credit lines.
Effective Vendor Selection Completes Projects Under $20 Million Budget
Several of the company's 13 location platforms were undersized, lacked consumer appeal and desperately needed upgrading. However, it was a considerably difficult financial market, and the company lacked the experienced staff, facilities management and time necessary to complete projects.
Worked with the financial marketplace to arrange specific project financing. Identified and retained a top-tier construction company and designers. Facilitated the planning and execution of construction projects. Directed the overall implementation of projects, ensuring all timelines and performance objectives were met.
As a result, highly complex, regionally diverse multi-facility construction projects were completed on time and under the $20 million cumulative budget.
Recruiting Key Resources Enables Business & Sales Growth
The company was a startup offering a high-value, high-cost new technology in the consumer marketplace. However, no substantive operational part of the company existed, other than the business plan and initial financing.
Personally recruited and hired key personnel such as the CFO, CMO and CTO, as well as engineering, sales and service teams to execute the business plan. Collaborated with the high-quality team to develop business processes that would ultimately achieve the new company's objectives in the new product arena.
Approximately 40 professionals were added to the company, effectively increasing business capabilities to support sales growth.
Instilling Clear Leadership Delivers 65% Profit Increase
The company was significantly underperforming and needed to be turned around in order to drive bottom-line results. However, there was an entrenched management culture that resisted change, and the tools were not available to generate the information required to make time-sensitive strategic changes and tactical decisions.
Implemented clear leadership, impacting management from the top down. Rolled out enhanced training throughout the company. Introduced best-practice financial forecasting and modeling techniques to inform business decisions. Employed pro forma budgets and revenue projections to guide corporate strategy. Retained professional human resources support to modernize HR functions throughout the organization.
As a result, the company achieved a 65% profit increase within 12 months.
Negotiating Network of Global Suppliers Sources $200 Million in Key Components
A new product entry required sourcing unique, ready-to-use components from global suppliers that met specific product performance requirements. Unfortunately, there were significant hurdles to overcome, including time constraints, cost benefit analyses, engineering quality compliance, supply chain support and a lack of brand awareness.
Negotiated a network of global suppliers to secure financial commitments to delivering the product with the specified quality, performance and cost benchmarks. The project was delivered in record time as a result of the strategic partnerships.
Due to relationship-building and diligent negotiations, more than $200 million in key components was sourced.
International Distribution Partnerships Lead to $100 Million in Pre-Orders
The company desired to increase revenues by opening up foreign markets. However, the organization did not have an international distribution plan, lacked brand awareness and had limited initial supply capabilities.
Initiated international distribution partnerships by building the company's first distribution networks in the EU and Caribbean. Delivered presentations at international trade shows. Improved SEO strategies to drive more hits on the company's site. Secured additional international manufacturing capacity to meet anticipated demand.
As a result, approximately $100 million in pre-orders were generated.
Complex Product Development Coordination Achieves First-to-Market Entry
The organization was attempting to be first-to-market with a new product introduction. However, there was a limited budget for product development, which created enormous challenges in highly regulated new product space. Additionally, the competition was also planning to enter the market at approximately the same time.
Coordinated complex product development, engineering and marketing team integration in order to meet the tightly defined project management map. Engaged a consultant specialist to expedite the application and approval of regulatory compliance requirements. Recommunicated and directed design adjustments and processes, enabling rapid product production.
On just a $6.5 million budget, the company rolled out the first U.S. produced and National Highway Traffic Safety Administration (NHTSA)-compliant full-speed electric vehicle.
Strong Evaluation Techniques Generate $112 Million in New Revenue
As part of its business model, the company needed to balance the needs of multiple clients in either the acquisition or divestiture of businesses to meet individual corporate objectives. However, in order to negotiate solutions in a time-sensitive environment, it was critical to clearly understand the unique characteristics of each transaction while maintaining complete confidentiality.
Leveraged strong evaluation techniques and personal experience to isolate each company's needs, evaluating potential transactions. Directed clients in the strategic planning, financing, real estate development, budget management, market analysis and sales forecasting efforts. Led complex negotiations to close 14 transactions in less than 24 months.
As a result, the company was able to generate $112 million in new revenue.
Recognizing Government Trend Secures Federal Tax Credit
The company needed to find a way to overcome the high cost of purchase for its products in a highly competitive technology market. However, the company was dealing with new technology in a new niche market, along with the use of global suppliers and increased logistics costs.
Recognized the emerging government trend of underwriting environmentally friendly projects. Facilitated the hiring of lobbyists at the state and federal levels to assist in gaining government purchase incentives for customers.
The company was able to inform the approval of a $7,500 federal tax credit for the purchase of its products.
Placing Top Performers in Leadership Positions Leads to Reduction of Costs
Service operations within the company were not profitable and not absorbing enough of the overhead costs. It was determined that the primary contributor revolved around employee complacency, as well as high turnover leading to a culture that was not customer-focused.
Personally recruited, hired and retained top performers for leadership positions. Placed the new leaders within specific departments and increased technical and customer handling training. Refined the company's marketing plan to improve customer recall and retention.
Within 30 months, coverage of overhead costs improved from 57% to 106%, far above the 55-60% industry average.
Accurate Market Interpretation Outsells Initial Production Capacity by 100%
The company had no internal engineering function, and a new product necessitated diverse engineering processes to meet strict performance and regulatory requirements. Teams needed to be evaluated, hired and retained; however, teams were not centrally located, which hindered communication and slowed development time.
Identified and retained globally disbursed engineering teams that had the qualifications to establish and meet all design standards. Collaborated with engineering and product development teams to design around existing technologies within the current marketplace. Insisted that all teams be involved in original product design, so buy-in and familiarity with needed components and assembly / testing processes would inform all coordinated efforts. Facilitated common engineering specifications protocols to regularly communicate progress.
As a result, initial production capacity was outsold by more than 100%.
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