Evaluating Your Startup Financial Health Part 1: The Analysis of Receivables and Payables

January 22, 2024by Dan Saccani

Welcome to “Evaluating Your Startup Financial Health,” a four-part series where we dive deep into crucial financial strategies for startups. In this series, we’ll focus on making substantial financial cuts, vigilantly monitoring every dollar, and accelerating Accounts Receivable collections. In this first part, we tackle the critical task of stabilizing your startup’s cash flow. This...

Dr. Doom Turnaround Wind-Down

An Artisan Chair Company Faces a Crash: Will Dr. Doom Turnaround or Wind-Down?

January 18, 2024by Mitchell Guzik

As Dr. Doom, a Chief Restructuring Officer, I’ve faced many challenges, but the case of this chair company was particularly intriguing. The founder, an eccentric and brilliant architect, had combined his passion for design with the unparalleled craftsmanship of Amish artisans. Yet, his pursuit of perfection was leading the company to financial peril. It was...

Turnaround

I’m Profitable but Have No Cash, Help!

January 16, 2024by Dan Saccani

Early in my career, I was lucky enough to experience the rise of the PC in Silicon Valley. I worked for a company called Optimal Communications, a phone company being launched with the likes of The Macintosh. At the time, Kleiner Perkins and IVP had invested, eager to join the PC race. On the finance...

HR Functions

My New Hire Wants to be a 1099: Is It Worth It?

January 11, 2024by Leslie Crouch

Hey there, amazing startup founders! Today, let’s chat about a situation you might find yourself in: your new hire wants to be classified as a 1099 contractor. Sounds simple enough, right? Well, grab a cup of coffee ☕, and let’s delve into why this might not be as straightforward as it seems. Understanding the 1099...

Turnaround

Planning for Longer Sales Cycles in Tough Times

January 9, 2024by Dan Saccani

As a Chief Restructuring Officer, I’ve seen many startups face the harsh reality of extended sales cycles, especially in challenging market conditions. Understand this: the strategies that brought you here may not get you through the next cycle. In times of economic uncertainty, both large and small companies tend to deliberate longer before making purchasing...

HR Functions

Keeping Employees Motivated When Things Get Tough

January 4, 2024by Leslie Crouch

When a startup is in a constant dance with the zone of insolvency, fundraising, talking to investors, and cutting budgets, employees start to lose faith and effort. In the challenging landscape of business, steering your team through difficult periods is both an art and a responsibility. It requires a balance of professional insight and empathetic...

Turnaround Wind-Down

The Critical Role of a Chief Restructuring Officer in Startup Wind-Downs

January 3, 2024by Mike Cronin

In the rollercoaster world of startups, encountering unforeseen challenges that threaten the company’s existence is not uncommon. When such crises loom, enlisting a Chief Restructuring Officer (CRO) becomes not just a choice but a necessity. However, the role of a CRO is multifaceted, varying significantly based on whether they’re tasked with a company turnaround or...

Turnaround

Harnessing Customer Feedback for a Successful Turnaround

January 2, 2024by Dan Saccani

As a Chief Restructuring Officer, I understand the panic that comes with a startup struggling to stay afloat when they’ve got six months left of runway and are unsure if they have product market fit. It’s natural to feel overwhelmed, but it’s crucial to recognize that the strategies that brought your startup to this point...

Turnaround Wind-Down

Liquidating Luxury: Dr. Doom’s Foray into Fashion and Home Goods

December 20, 2023by Mitchell Guzik

The Los Angeles skyline was a blend of sleek modernity and gritty realism, much like the business ventures it housed. In a nondescript warehouse in Downtown LA, luxury and ambition hung heavy in the air, alongside the scent of high-quality fabric. This was the domain of the Newtson Brothers, a pair of fashion entrepreneurs who...

Advice Fractional CFO

Market Analysis for Turnaround Success: Understanding Your Competitive Landscape

December 19, 2023by Dan Saccani

As a CFO for startups, I’ve seen firsthand how crucial a thorough market analysis is for any company, especially during a turnaround. Understanding your competitive landscape can illuminate opportunities and threats crucial for your strategy. Conducting a market analysis provides clarity on where your startup stands in the competitive ecosystem. It helps identify market trends,...

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