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Positioning a Cash Poor Start-Up to Receive Financing
Situation:
Successful start up company was cash poor, which severely limited its ability to move forward.
Solution:
The HK Turnaround team successfully established a business plan and systems for the company.
Details:
The HK Turnaround team recognized that since there had never been a formal business plan created by management, the company was rudderless and unfocused. Such a plan was developed to provide a future roadmap for success and the HK Turnaround team educated the principals on how to interpret financial information and manage future cash flow.
Finally, HK Turnaround introduced the principals to sources of capital, including the bank contacts necessary to grow the company.