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Facilitating the Succession Plan of a Florida, USA Accounting business

OUR CLIENT’S GOAL

  • To retire after 28 years of owning / leading an Accounting business
  • To meet financial goals from the sale of the business

WHAT WE DID

  • Various value creation programs to reduce dependence on the owner
  • Presentation of the business to potential acquirers
  • Evaluation of potential acquirers to obtain Expressions of Interest
  • Management of sale negotiations through to closure
  • Instructing attorneys on documentation

THE RESULTS

  • A deal which paid 130% x annual revenues (and achieved the owner’s financial goals)
  • A deal in which 80% of the transaction price was paid upon signature
  • A deal which included an 18 month ‘lock-in’ with some transition support

Set-up of offshore facilities for an Accounting business based in Sydney, Australia

OUR CLIENT’S GOAL

  • To increase business profitability
  • To free up Partners to focus on high-value Client assignments

WHAT WE DID

  • Document the CURRENT roles and workflow processes
  • Evaluate the CURRENT performance in terms of productivity, write-offs, Average Hourly Rates and other key metrics
  • Detail a Scope of Work for presentation to two offshore providers
  • Negotiation of terms with offshore provider
  • Change management to adopt revised processes involving offshore provider
  • Tracking of key metrics post transition

THE RESULTS

  • Increased Gross Profit from 58% to 69% over a 12 month period
  • Topline growth of 8% (from Existing Clients) as Partners focused on Client Management and Business Development

Increasing profit in a New Jersey, USA Accounting business

OUR CLIENT’S GOAL

  • To increase Net Income from 17 to 25% of revenue in 12 months WITHOUT working more hours

WHAT WE DID

  • Redesigned the organization to define roles
  • Revised workflow processes
  • Set up systems to track productivity and average hourly rates

THE RESULTS

  • A dramatic increase in profit within 3 months
  • Achievement of 28% net income within 12 months
  • Reduced dependence on founder who works fewer hours
  • Improved morale and emergence of a potential successor

Achievement of 20% topline growth in a California, USA Accounting business

OUR CLIENT’S GOAL

  • To increase revenues from $1.1m to $1.35m over 12 months

WHAT WE DID

  • Analyzed growth achievable through price increases, Existing Clients and New Clients
  • Client Classification to reveal opportunities with Existing Clients
  • Implemented program to sell Estate Planning services to Existing Clients

THE RESULTS

  • Development of a new Estate Planning product
  • A clearly defined Target Client for Estate Planning Services
  • Repeatable marketing programs targeting Existing and New Clients
  • Revenue growth of 15% in year one and 23% in year two

Digital Marketing Strategy for an Illinois, USA Accounting business

OUR CLIENT’S GOAL

  • To increase business leads (both number and quality) to grow revenue

WHAT WE DID

  • Defined Target Client (by industry, location, ambition, needs etc.)
  • Updated marketing collateral (website, social media etc.)
  • Developed content strategy for frequent releases of high-quality material
  • Developed a digital marketing budget, plan and targets
  • Implemented a digital marketing strategy involving SEO, Google Ads and Maps

THE RESULTS

  • Increased (quality) lead generation to 11 per month (average)
  • Increased sales conversion rate of Target Clients
  • Achieved 11% revenue increase in year one

Strategic growth planning for a Denver, USA Accounting business

OUR CLIENT’S GOAL

  • To grow revenues from $2.2 million to $10 million in five years

WHAT WE DID

  • Mapped out a strategy involving both acquisitions and organic growth
  • Implemented various programs to enable Owner to focus on growth strategy
  • Identified and completed acquisition of a $1.3m revenue firm
  • Identified and in discussions to acquire a $1.9m revenue firm
  • Organizational planning to ensure effective integration of acquired businesses

THE RESULTS

  • Revenue growth is approaching $4 million
  • The owner is focused entirely on the growth strategy, free from operational commitments

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Mark Ferris CEO of Panalitix
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