Scott Geller – The CFO Perspective Episode: How and where do I access funding? Date: March 15, 2021 IBGR.Network - PROFIT Radio. Everything a business owner needs to start, grow or exit a business. GROW WITH US. INTRODUCTION I have 20 years of experience in the finance realm that started with the Federal Reserve Bank as a bank examiner, moved on to 7 years at a Fortune 300 insurance company, and then a 50-70 person spin-off technology firm under the Allianz umbrella of companies. I was with the spin-off from day zero all the way until the unfortunate end and I had to close down the business. I am now a financial consultant serving primarily as a fractional or part time CFO for companies that range from start ups to young and scaling to established with stable growth. I take over from the accountant as a lean cost effective option for Profits Engineering, Cash Optimization, Strategic Acceleration and Executive Partnering committed to your success. Please contact me at scott.geller@capitisadvisors.com. PROBLEM STATEMENT/SHOW OBJECTIVE A growing business will typically find a point where the working capital is insufficient to fuel the market demand or the identified potential for a company. The business needs additional cash until profits are sufficient to support the growth stage. The flip-side is a cash need for a downturn requiring funding to bridge a period of uncertainty or afford expenses until an issue, uncertainty, or bridge period abates and the business can return to generating sufficient cash. Regardless of the need or situation, the path to continue operating independently requires funding or additional cash. The source of the cash falls into three buckets - debt, capital, or a deal - to provide the necessary funds to allow the business to survive through this period. However, it's not easy to choose a path or know the most appropriate path especially when most every situation is unique, requires its own evaluation, and the response can depend on who you ask. The banker and venture capital provides a completely different answer for the exact same deal. The trick is to be prepared by understanding your timing, quantifying your need, and proactively have options. The worst time to ask for money is when you are in a bad place and NEED money. Regardless of whether you decide on taking out debt, bringing in an equity partner, or fielding offers for a company deal, the entire process is a delicate dance that is frustrating and confusing without the proper expertise or support as a partner. WHAT YOU NEED TO KNOW
WHAT YOU NEED TO DO
PREVIOUS : Episode 10 - 2021_03_08 - How and where do I access funding? NEXT: Episode 12 - 2021_03_22 - What if I want to sell my business? Resources: You can connect with Scott via his website or LinkedIn Connect on LinkedIn See Scott’s Website F3.11.4NA
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