Below are samples from Ryan Walsh’s Experience that are representative of the support and projects Walsh Partners supports.
Client: Startup in SLC, Medical Services
Opportunity: Client had an ongoing post-revenue concern, with twelve corporate subscribers, a proven technology and a few paying referenceable clients. The company was angel funded and was consuming cash. The founder wanted to acquire more capital to hire some leadership, sales resources and retain programmers.
Process / Work Performed:
- Reviewed financial model, sales model, staffing projections and recommended changes and different scenarios for the purposes of raising capital
- Built a one-page pitch sheet for wide distribution
- Reviewed and recommended changes to the pitch deck which focused mostly outside of the financial model
- Tracked changes to model, deck, pitch sheet
- Built cap table and built out scenarios for different investment proposals
- Reviewed and proposed investment terms for the capital raise
- Worked with 19 respondents to YPO Deal Network posting, participated with founder in calls (and follow up) with 9 of the respondents
Result: The client is now servicing contracts in all 50 states and in a number of foreign countries. In addition, they the leadership of the company. (On a side note, the founder seems a lot happier now that the flywheel of his business is turning!)
Client: Family Business in Manufacturing
Opportunity: The client had landed and fulfilled a multi-million dollar contract to provide a product to a customer who had indicated an exponentially larger order. In addition, a number of proposals, demos, site visits and even more related opportunities were in the offing. The client was in need of financing to build manufacturing capacity and potentially finance the purchase of further inventory to produce more product.
Process / Work Performed:
- Created chart of accounts and fully recreated accounting records in Quickbooks from the company’s inception (FY 2014 – FY 2014) using any and all records, interviews and assorted documents.
- Built Pro Forma financial statements with detailed annotations for due diligence by potential outside investors. The financials included separate divisions, consolidated views, P&L, balance sheet and cash flow. The documents were also used in defense against lawsuits.
- Created Policies and Procedures manuals and created desk procedures for accounting, record keeping, expense, employee reimbursement, invoicing and accounts payable.
- Reconstructed a timeline of key events, contract fulfillments, invoices and payments received, and summarized it for the company’s principals, attorneys and for potential investors.
- Summarized, created narratives, annotations and bridge docs, then transitioned my work product to the company’s outside attorney after my engagement.
- Built financial models, bio books, organizational charts and financial projections for pitch book.
- Participated in strategic meetings with potential joint venture partners, potential investors and with supply chain partners in the role of the company’s de facto CFO.
Result: My work helped the company defend itself against lawsuits from former partners and helped guide their management team through pitches to outside investors. In addition, I helped guide the company away from some partnerships that turned out to be a front for corporate espionage from within their own ranks. Ultimately, the company reorganized and is still pursuing manufacturing contracts for their products.
Client: Mobile Payments Startup
Opportunity: The client has a patented technology for mobile payments that has tremendous potential for growth and usage worldwide. As the main resource working for one of the founders, I became the company’s Controller.
Processes / Work Performed:
- Created a capitalization and amortization schedule for capitalized software development and implementation / integration costs with an associated white paper to document and clarify the process for audit purposes.
- Published weekly cash position reports and cash forecasts for the board treasurer.
- Created a process for recording and recognizing revenue monthly taking currency exchange rates into account.
- Published financials (Income, BalSheet, Cash Flow) on a monthly basis to the board and executives within the first few work days each month.
- Managed Payroll and Accounts Payable, including multiple outgoing international wires monthly.
- Built and maintained a detailed and complex P&L vs. Budget file using MS Excel and Quickbooks. Maintained a P&L model in a separate format for one of the founders.
- Created and maintained the Stock Ledger and cap table, printed and maintained stock certificates through two rounds of fundraising.
- Maintained / reconciled travel reimbursement process through a 3rd party travel agent.
- Tracked / maintained corporate compliance for business licensing, franchise taxes, workers’ comp, unemployment insurance, state and federal taxes et al for this client and several other startups / clients.
- Tracked, summarized, maintained corporate contracts.
- Documented and transitioned all processes in detail to my successor.
- Prepared and filed US federal and state taxes.
Result: The company is thriving internationally, and is being considered for a major contract for a municipal transportation authority in the US.