With more than 20 years of entrepreneurial experience, and
ten years of senior level consulting, Ed Wekesser has helped
owners and CEOs face numerous challenges.
Click on any one of the following topics to read some of Ed
Wekesser's success stories:
Growing and Successfully Selling a Software Company
As chairman, CEO and president of a start-up software company, Ed Wekesser profitably grew revenues to more than $13,000,000. Under his leadership, the company achieved a record of rapid growth and profitability, and successfully completed a planned sale to a Fortune 500 company.
Managing a Multi-Industry Organization
As a consultant and then COO of a multi-industry
organization – indirect lending, insurance, and automobile
sales – with $50,000,000 annual revenues, Ed Wekesser
accomplished the following objectives:
Instituted the company's first corporate-wide planning
Established a management development, reporting and
Created and began execution of an aggressive national
Initiated "value pricing" resulting in successful price
increases up to 100%.
Developed an internal technology department.
Helped secure bridge financing in preparation of an
Consulting Adaptability to Discovered Needs
I. A business to business professional services firm requested a complete strategic and operational business plan. Thirty days into the assignment Ed Wekesser discovered the company was in imminent danger of going out of business, and convinced the owners to take the following immediate action steps that allowed them to survive while they retooled their strategic planning.
- Create a “what if” driven financial model of the business.
- Insist that the senior management team, lead by the COO, create an interim operating plan in ten days that reduced overhead by 30%. To the owners’ surprise (and delight) they did this.
- Fire the Sales manager who was in way over his head.
- Revise organizational lines of reporting and clarify levels of decision making.
II. An industrial fabrication company requested outside assistance in helping them improve their financial results as the front-end of an economic downturn was beginning to stress their existing business model. After an abbreviated “coming-up-to-speed” period Ed Wekesser worked with the owner to do the following:
- Revise current financial reporting mechanisms to show monthly financial results within a broader context of time.
- Create a new reporting mechanism that tightened the existing sales reporting system and integrated it into a new margin projection report. This report became the basis for critical owner decisions regarding further overhead cuts, and whether the company was going to be able to remain viable as a stand-alone entity.
- Analyze the senior team to determine the key players necessary to run the business.
- Find legal counsel appropriate to advise the owner through a potential sale to a larger regional organization.
- Work through all of the issues related to consummating a sale of the business.
Transitioning a Company Up to the "Next Level"
A successful, five office consulting firm had grown rapidly,
but its owners were worn out from running a company of 100
employees the same way it had been run when it only had 20
employees. Profits were good, but life for the owners
wasn't. Four years from starting the initial assessment work
Ed Wekesser had helped the company successfully accomplish
- Identify the desire by one of two owners to leave the business sooner than the other, and openly plan for the departure in a very positive manner.
- Institute a company-wide planning process and teach the organization to incorporate planning as an ongoing process.
- Identify the need for and/or find several critically needed positions including COO, HR manager, IT manager and senior consultants.
- Transition the owners from project work to leading and managing.
- Renew the owners' enthusiasm for the business and its growth.
- Restructure reporting lines (one person – one boss).
- Turn an IT infrastructure from a severe weakness into a strong marketing component.
- Successfully sell the company to an international, publicly traded organization (Ed Wekesser lead the initial negotiations).
Moving from Entrepreneurial Start-up to Professional Management
A new professional member services organization had
completed product/service evaluation and commenced
operations. The company’s founder, a typical visionary
entrepreneur recognized the need for outside assistance in
developing the operations of the company which included one
strategically placed family member. Over a three year period
of time Ed Wekesser was instrumental in helping the company
accomplish the following:
- Define the founder’s personal objectives, and develop a business plan to create a successful organization and to achieve those personal objectives.
- Develop and maintain an ongoing corporate planning process, including both the strategic and detailed operational planning components.
- Identify the company’s primary business processes, as well as the related ideal outcomes and key indicators (objective data driven).
- Create and maintain a dynamic financial projection model to manage cash flow and meet the founder’s personal financial objectives.
- “Grow” a family member into an organized operations manager capable of leading all company operations.
- Successfully transition from an entrepreneurial start-up to a company of ongoing planning, consistent processes, objective measurements of success, positive and increasing cash flow and a strong future.
Transitioning a Company to a New Management Team
The founders of a multiple facility/state provider of
structured social services programs had become “worn out”
with the day-to-day operational aspects of the organization.
The previously successful firm was struggling with a number
of significant issues when its chairman asked for an outside
assessment. Using Fulcrum Business Solutions’ Strategic
Alignment Audit as the foundation of the assessment, Ed
Wekesser was able to help the organization achieve the
- Facilitate an honest, caring dialogue between the two founders regarding their personal desires and abilities, as well as their motivation to continue working at a high level of intensity.
- Assess the various long-time relationships, including family-related issues, and recommend specific personnel changes throughout the senior management team, including the two founders.
- Agree to the hiring of several new executives, including the president who was one of the founders.
- In addition, he assessed the company’s foundational financial issues, and guided them in assuming a more aggressive negotiating posture.
Mediating 50/50 Partnership Relations
A regional commercial construction company, with annual sales of approximately $40,000,000, was experiencing significant turmoil between its two 50/50 partners. In addition, it was unable to maintain orderly internal operations. Here's what Ed Wekesser accomplished for the company:
- Found and hired a chief financial officer to oversee the development of strong internal systems and controls.
- Restructured the company's two 50/50 partners' titles, roles, responsibilities and compensation, triggering a buy out by one of the owners.
Strategic Thinking and Implementation
A relatively small, national software firm had a proven track record with its product and service. However, it was moving into uncharted waters and needed help. Through a strategic planning process, Ed Wekesser was able to help them:
- Take control of their marketing and sales processes by ending a long-term restrictive distribution system (a single distributor) and developing the company’s internal capabilities.
- Avoid being acquired by a less than ideal suitor (Ed Wekesser strongly recommended against the overture).
- Revise their pricing strategy to embrace the value pricing concept, thus enhancing their revenues and net income.
Ed Wekesser Creates Leverage for Owners and CEOs
A strong strategic thinker with a unique understanding of the relationship between strategy and old-fashioned execution,
Ed Wekesser is interested in helping you – the owner or CEO – leverage your personal time and experience so you can transition your company to the next level. And, ultimately, increase shareholder value.
Should you wish to speak with Ed Wekesser directly, call him at (303) 972-7663 or e-mail him by clicking on the
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