Enclosed below are some of the client engagements I have had, and in some cases are still having. These engagements are described including both the context of the engagement, and also some relevant details.
IT Business
[Commercial Clarity from Disarray]
IT Business
[Commercial Clarity from Disarray]
- CFO of business committed suicide for non-business reasons, and two average financial controllers were recruited, resulting in business losing a grip of its previous high standard of compliance and commercially relevant financial management.
- Murray brought in to work with the Owner, and achieve the required standard of commercial and financial management. Outcomes achieved:
- Stabilised four separate tax jurisdictions, via 3 separate CA firms, and small internal finance team. Eliminated tax exposures and arrears, and enabled business to move forward from a solid tax and compliance base.
- Addressed a complex multi-faceted taxation issue of long standing, utilising the services of one of the Top 5 tax practitioners in New Zealand.
- Overhauled, stabilised, and improved the commercial analysis and reporting of the various entities, enabling the business to understand where its optimal gross margin opportunities lay, as it continued to grow strongly in multiple geographical markets.
- Provided the leadership and confidence that allowed to in-house financial and commercial team to stabilise, and grow to the point of sustainability.
- Earned the respect of a highly experience and technically competent business owner, who was both brilliant and hyper – cynical at the same time, and whose standards meant that the managers in the business were afraid to truly engage with the business owner.
- Created the commercial and financial platform to enable the business to expand into the UAE, via a Dubai Beachhead.
Garment Business
[Business Turnaround; from Virtual Oblivion to Rude Good Health]
[Business Turnaround; from Virtual Oblivion to Rude Good Health]
- Business was two weeks away from receivership. Murray introduced as CEO of the business, via the BNZ, and a CA firm.
- Business was desperate for cashflow to survive. Its last chance was a shipment of garments which could generate a 70% gross margin, and $500k in cashflow if one of NZ’s premier retailers could be convinced to provide this business with a second chance, as in the past the business had let this retailer down.
- Murray facilitated the repair of this relationship, which allowed this shipment to flow through the retailer’s national network, and this generated $500k in net cashflow within 6 weeks of Murray joining the business.
- As a result of this $500k net cashflow input, the business now had a potential future.
- The business was turned around over the next 12 month period. Key achievements:
- Found a way for the two owner managers of the business to work together, as these two were not suited to work together, either regarding temperament, or complimentary abilities. These two people had been forced through circumstance to work together, and did not fully respect each other.
- Completely overhauled and transformed the sales process, and sales team.
- Exited without adverse financial or commercial impact 10 people within the overall team of 30 people, who were passengers, and who had been retained due to the fatigue and disillusionment of the two owner managers.
- Introduced $750k of additional working capital into the business
- The business became sustainable, and achieved growth (in excess of 30% per annum), improved profitability (from break-even to EBIT of 10% of revenue), working capital stability ($750k of $1m additional working capital sourced and injected into the business)
- The above achievements resulted in:
- The business attracting a new high net worth owner, who bought out the
- previous two active owners, as well as the minority shareholders.
- The business is now operating under this new owner at another level; without
this business turnaround, this would not have been possible.
Specialist Services Importer, Manufacturer and Exporter
[Meaning from Data / Influencing Key People to take a calculated Leap of Faith]
[Meaning from Data / Influencing Key People to take a calculated Leap of Faith]
- Business has been established for more than 100 years.
- Owner and key management team have operated together for just under 40 years.
- Business was heavily negatively impacted on by the GFC.
- Business has had, and continues to have an exceptional culture, driven by decades of effort by the owner.
- Business achieved operational excellence some time ago.
- Business challenges centred around revenue generation, gross margin optimisation, sales force effectiveness optimisation, and succession planning for the owner.
- Murray introduced, as Business Advisor, and member of Business Advisory Board. This engagement is ongoing, having commenced in January 2011. Achievements to date:
- Identification of, and ongoing leadership training regarding a potential successor to the business owner.
- Financial results which are the best in over a decade. Record profits achieved in the last two years, with the 2016 year result bettering the 2015 result, which was a record for the business.
- Revenue growth in excess of 15% CAG (compound annual growth).
- Gross margin optimisation; specifically gross margin maintained in the face of ongoing
- vicious competitive pressures, within a mature local market.
- Planning regarding expanding current export revenues, from a narrow but successful
- customer base.
- Moving into solution - based selling for export customers.
- Significant increases in export revenue, from a solid and growing NZ wide revenue
- base.
Electronic Boards Assembly, Import and Export Business
[Transforming Three Business Leaders into a Leadership Team]
[Transforming Three Business Leaders into a Leadership Team]
- Business successfully operating, with three business owners.
- Major opportunities for revenue growth, constrained by lack of growth funding, and sub – standard operational processes.
- The business had 80% spare capacity, meaning it could increase revenue by a factor of five, with
- minimal fixed cost increases.
- Murray introduced as Business Advisor. This engagement is ongoing, having commenced in August 2013.
- Achievements to date:
- Quantum improvements in the management of cash; especially improvements in debtor collections.
- The three business owners are now operating as a cohesive unit, and addressing growth with ever increasing effectiveness and energy.
- Growth funding, via a major bank, is now in place, enabling the business to fund an increase of up to 60% on top of current revenue levels. This growth funding has been set up in such a way that future increases in funding as required will be fairly straightforward, due to financial forecasting systems that have been set up, driven off the business’s ERP system.
- Talent within the business has been nurtured, with dramatically positive productivity results.
- The ERP system functionality is being utilised far more effectively, due to improvements regarding process and workflow automation.
- The confidence levels of the three owners, both internally, and externally has significantly increased.
Leading Fabrication Business
[Increasing Organisational Belief, and Leading through cutting edge process and passion]
[Increasing Organisational Belief, and Leading through cutting edge process and passion]
- The business is a significant industry player; key strengths are plant quality, business culture, technical competence, and a reputation for honesty and delivery quality and reliability.
- The business has available capacity to grow by a four - fold factor.
- Murray introduced as Business Advisor:
- Achievements to date:
- A Leadership focus on action via thinking, building on the previous focus of action by doing.
- The business leaders delegating more responsibility, and sharing the load with key members of the business to a far greater extent.
- Enhancement of a performance based culture, building on the well - established humanity based culture.
- Resulting from increased confidence within the business, at both an owner and management team level, superb talent in a number of areas has been attracted to the business, resulting in further enhancement of both business culture, and also performance based culture.
- Growth funding arranged, to enable the business to both grow, and also fund the acquisition of strategic assets, as required.
Software Services Business
[International Scalability for an Exceptional New Zealand Based Business]
[International Scalability for an Exceptional New Zealand Based Business]
- A truly exceptional business, achieving innovation and thought leadership at a level that few business can aspire to.
- An exceptional business culture in place, driven by a passionate, highly gifted business owner.
- Murray introduced as a Business Advisor, to work with the business owner, and selected key
- members of the business.
- Achievements to date:
- An outside-in perspective for the business owner, providing a sounding board regarding key in-progress elements of Strategy and Commercial Construct, including international scalability.
- On ongoing 360 degree discussion with the business owner, regarding all current and ongoing matters of significance and relevance to the business.
Trading Business – Agricultural Sector
[Independent Professional Facilitation and Negotiation for Two Families to assist one family purchase the other family’s 50% shareholding in a private Business]
[Independent Professional Facilitation and Negotiation for Two Families to assist one family purchase the other family’s 50% shareholding in a private Business]
- The Business has never been valued.
- Assisted in the selection of major National CA practice to value the business.
- Assisted the management team of the business to prepare quality historic and forecasted financials to enable the CA practice to produce a top quality valuation.
- Murray introduced as a Business Advisor, to work with both families, including all relevant stakeholders.
- Assisted both families to move past family politics, and suppressed emotions, to a mind-set enabling negotiation of commercial terms where both families could accept a settlement.
Enhancing a Legal Firm
[Achieving Operational Excellence, and Leading through Adversity]
[Achieving Operational Excellence, and Leading through Adversity]
- A very well established and regarded law firm.
- A human culture, led by professional and human owners.
- Assistance needed to address market momentum and relevance, and commercial focus.
- Murray introduced as a Business Advisor.
- Achievements to date:
- Clarity regarding current state and ongoing potential of all people in the business, via interview based discovery and analysis.
- Introduction of an integrated financial forecasting system, enabling the future forecast to be informed and energised by past and current and present performance levels.
- Introduction of a KPI Dashboard, integrated with business development strategy and execution, locally and offshore.
- 1 on 1 engagement with owners regarding key firm challenges and opportunities; both tactical and strategic.
Enhancing an Established Health Services Provider
[1 on 1 Engagement with CEO]
[1 on 1 Engagement with CEO]
- Murray introduced to provide an external perspective, and a sounding board for an experienced and well regarded CEO. This engagement is ongoing, having commenced in January 2014.
- Achievements to date:
- Improvements to the focus and functioning of the CEO’s management team.
- Discussions regarding the interface between the CEO and clinical team, in terms of further enhancing a strong relationship.
- Improvements to digital marketing capabilities.
Sale of a Private Training Establishment (PTE)
[Independent Professional Facilitation and Negotiation to assist a PTE Vendor engage with a favoured Purchaser]
[Independent Professional Facilitation and Negotiation to assist a PTE Vendor engage with a favoured Purchaser]
- Murray introduced to provide support and guidance to the majority shareholders of a PTE, where the PTE was under business stress cause by the ex CEO of the PTE.
- An extremely emotional and difficult process for the majority shareholders, as they had no choice but to sell the PTE, and they had minority shareholders to manage and take with them.
- Maximised the exit price of the PTE.
Import and Distribution Business
[Business Clarity for a Leader who has saved a business; resulting in transcending life changes]
[Business Clarity for a Leader who has saved a business; resulting in transcending life changes]
- Business owner was asked to return to family business to save it from certain failure; this was successful over a 6 year period, resulting in a robust business, extremely significant debt reduction, and the elimination of unproductive previous owner and management practices.
- Business currently has a number of opportunities to both increase scale, and expand offshore.
- Murray introduced as Business Advisor. This engagement is ongoing.
- Achievements to date:
- Scale increase and offshore expansion opportunities clarified.
- Business owner has realised that a return to a Corporate role will serve them and their family best. As a consequence, the business is being transitioned from owner management, to a semi-managed business, to allow the owner the space to operate within a Corporate role.
- Engagement is ongoing; the achievements to date have occurred extremely quickly; over a two month period.
- The business owner is continuing to streamline the business, and also progress the Corporate role.
Contact Details
If you would like to discuss your requirements with me, on a totally confidential basis, and also a complimentary basis, my contact details are:
Email: mfulton@advantagebusiness.co.nz
Mobile: 021-900-001
If you would like to discuss your requirements with me, on a totally confidential basis, and also a complimentary basis, my contact details are:
Email: mfulton@advantagebusiness.co.nz
Mobile: 021-900-001