Retail and Distribution Client Stories:
Launching a new venture requires vision; with the exploding and competitive global market, that vision needs to be matched with a solid business plan and grasp of the company's financial footing and future. For a secondary market reseller-a company that buys back and refurbishes data communication equipment-the vision was there. "It's about building relationships with the customer and providing solutions for them," says the CEO. "We sell a commodity, and we have to differentiate ourselves from our competitors. We get to know our customers very well. It's a more gratifying business model than working for some of the larger companies."
After several years of growth, it became apparent that getting a handle on the financial end was critical to the strength and stability of the company. "We were working on a really small accounting program, and no third party people were coming in to make sure our internal reporting was accurate," the CEO recalls. "I'm a salesperson, not a financial person. I can talk about my vision, where I'm going and the successes and failures of my business, but I can't necessarily talk the financial lingo."
After exploring hiring a full-time person, the CEO realized that "I couldn't find anybody to bring that level of expertise for a price that I could afford." The company's bank recommended Focus and the CEO found "the level of expertise that Focus brought to the table has worked out perfectly for us."
In addition to working through the financials of the business, the company has found an added benefit in the community of Focus. "The quality of people that Focus networks with is amazing, and I have found great support through that network of people," the CEO asserts. "The thing that's clearly different for me over these past few years is that all of the people I work with, both business advisors like Focus as well as my employees, are now loyal and fully in my camp. Everyone understands and supports my vision. That's making our current growth possible."
While Focus' role has changed with the company over the years, their service continues to be a valuable asset to the business. "They can help you focus on your core business. When you start out, you have a vision, and what tends to happen is you get involved in all of the micro details. One of the most important parts of those details is the financials-let somebody else do that while you run your business."