Money Talks simplifies finances for businesses and individuals to achieve profitability. Edlin Friesen’s expertise in debt recovery and wealth building spans over 20 years with private enterprises, non-profits, small businesses, and startups. As founder of “Women in Business Under 30,” Edlin serves on several boards and participates in various non-profits. Edlin is dedicated to guiding clients through their next strategic moves.
Need a captivating speaker? Bring Edlin to your next event for expert advice on achieving financial success.
Contact us today to schedule a consultation and start your journey to financial success.
This client approached me with a problem that looked like unmanaged growth. This had added significant challenges to their daily operations. It quickly became apparent that the problem was much bigger. Banks were nervous, working capital was non existent and litigation matters were drowning the CEO. Further, this was impacting the marriage as husband and wife were equal shareholders.
A business that had an excellent reputation and was at the top of their industry but for the first time in their 17 year history they couldn’t see their way past their challenges.
What was the consulting opportunity
The key to the multi-layered operational and working capital challenges was to build an elite team of experts to assist with the short term survival challenges as well as anticipate more long-term strategies to regain financial ground. By projecting out the necessary working capital required we were able to approach their lending institutions and invite them to work with us in our recovery plan. Also we began intense negotiations efforts in order to begin to settle the litigious cases as soon as possible. MoneyTalks also focused on the state of mind of the shareholders in order to help their endurance during a 3 year recovery plan
Results
In 4 months the corporation was able to meet the majority of the working capital demands. We helped them to stabilize the legal matters and balance and protect their personal finances thereby relieving some of the pressure this situation created.
Corporate Consulting
I met a client who was dominating his industry for the past 25 years. An excellent reputation with decent internal processes. But his financial statements for the past 3 years had not excited his lending institutions. He also had trouble explaining to these lending institutions why the financial results were so erratic. In fact, it would begin to impact his lending capabilities in current year when his main strategic goal was growth.
What was the consulting opportunity
After some time meeting with their accountants, auditors and lenders it became evident that there was a problem with how revenues were recognized. It became an internal audit issue. The first solution was to firm up the internal reporting cycle for the company then begin to show the CEO how the reports impact his weekly decisions. Money Talks also established the required changes and reporting needs for the internal accounting team.
Results
As most of these processes could be automated it allowed the CEO to continue to focus on his key results areas while enabling him to explain to his lending institutions where the financials were each month thus eliminating the surprise post year end. Better response to overall corporate growth strategies. Happier bankers and happy CEO.
Corporate Financial Consulting