Advisory Services

A developing alternative to the traditional board of directors is the use of a Business Advisor who can provide an independent forum to address and discuss business policy and practices without many of the concerns attendant to the Board of Directors.

Family-owned and other closely-held corporations often experience the need for independent, unbiased advice to guide the business through the ever changing business climate, as well as through personality and family differences that can harm and even destroy a business.

Traditionally, corporations have looked primarily to Boards of Directors to provide the expertise and counsel necessary to manage the business. Often Boards of private companies are supplemented with members who are neither shareholders nor officers of the corporation. However, in the context of family-owned and closely-held corporations, a Board of Directors has significant shortcomings even with the use of outside independent Directors. The stockholders may not feel comfortable granting legal management control of the business to an enlarged Board comprised in part of non-family members. Potential Directors are also reluctant to accept Board membership because of the potential liability to the shareholders, the corporation and third parties arising out of a Director's legal status as a fiduciary.

The Alternative: A Business Advisor

A developing alternative to the traditional board of directors is the use of a Business Advisor who can provide an independent forum to address and discuss business policy and practices without many of the concerns attendant to the Board of Directors.

Key Tasks for a Business Advisor

  • Conduct regularly scheduled “Board” meetings
  • Evaluate and improve business plan, marketing plan, sales plan and financial plan
  • Insure use of business best practices
  • Provide management coaching
  • Be a “sounding board”
  • Bring in specialty resources as needed

How Solid Oak Consulting Can Help Your Business

The 5 Most Common Needs of Owners

  • Improved Cash Flow
  • Increased Sales
  • Future Game Plan
  • Improved Profits
  • More Time

Improve Cash Flow - Areas Reviewed

  • Credit Control Systems and Policies
  • Inventory Management
  • Banking Relationship
  • Overdraft Facility
  • Invoice Discounting
  • Bad Debt Collection
  • Sale & leaseback

Increased Sales - Areas Reviewed

  • Marketing Strategy
  • Sales Team and Sales Methods
  • Databases and Marketing Lists
  • Brochure Design, Leaflets, Direct Mail
  • Exporting (Overseas Agents & Partners)
  • Exhibitions Local and Abroad
  • Franchising
  • Website/Internet Usage

Future Game Plan - Areas to be Investigated

  • New Product Development
  • New Market Development
  • Patents/Copyrights/Trade Names
  • Intellectual Property Rights (IPR)
  • Financing / Loans
  • Venture Capital
  • Acquisitions & Mergers
  • Exit/Succession Strategies

Improve Profits - Areas of Analysis

  • Telecom Carrier
  • Bank Fees and Overcharges
  • Utility Usage and Alternative Providers
  • Insurances Coverage & Costs
  • Accountants Fees
  • Rent Reviews
  • Computer Systems-Efficiency & Control
  • Computer Maintenance Contracts
  • Vehicle Leasing
  • Leasing/Lease Purchase Analysis
  • Supplier Relationships/Materials Purchasing
  • Manufacturing Efficiency
  • Waste reduction
  • Credit Checks (customers & competitors)
  • Credit Risk alert
  • Collections

General Business – Efficiency & Staff Issues Reviewed

  • Structure of Business Organization
  • Lines of Responsibility
  • Human Resource Audits & Recruitment
  • Employment Policies
  • Health & Safety Policies & Systems
  • Pensions (401k)
  • Healthcare
  • Work Incentives / Staff Motivation/Retention
  • Training Programs
  • Key Man Insurance
  • Accounting Software
  • Payroll Software
  • ISO 9000/ISO 14000

For a free initial meeting contact Tom Long at telong@SolidOakConsulting.com.

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