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How To Qualify An Accountant – Choosing Your Corporate CPA – A Must Read
Posted by: | CommentsI was recently on a conference call with a new client and their accountant who insisted on meeting with me because he wanted to pre qualify me. After a few questions when I was setting up the call I could tell right away that this accountant was a pure amateur and was trying to look like the ‘big dog’ to his clients, being one who invites and enjoys confrontation I took on the meeting. I love negotiating and debating on topics in which I’m well versed so I knew this would be fun.
The call started with the accountant jumping in to take control of the conversation and asked me if I wouldn’t mind explaining what I am planning to do for this client. From beginning to end, this individual was completely out of his element as he’s never had direct contact with an IPO or Global strategies facilitator or someone with international legislative contacts to put to work on behalf of the client to expedite growth and revenues.
After my brief 30 second presentation there was silence on the other end of the line which typically means the opposing party cant intellectually formulate a response due to the sheer lack of experience in this field. So then I continued but instead of a presentation, I became concerned that I was getting involved in a project that had flees and I may need to step away if too many unqualified people were involved.
I proceeded to ask him the following questions that any consultant should ask of a person who claims to be an insider with your client. “How big is your accounting practice”…2000+ clients he boasts. My next question was “Wow! Great then please give me the breakdown of the inter-client base strategic partnerships you have created on behalf of this client to speed up their growth and increase their revenues?” He couldn’t respond because he didn’t know what strategic alliances were. I continued, being that this company has been trying to raise capital for over a year, with 2,000 clients obviously you have access to accredited investors, how much money have you raised and what SEC approved vehicle did you use to distribute shares for equity?” again, there was silence on the other end of the line. This was the way the entire call went which demonstrated to my client that they will obviously have to break out of that relationship for and experienced accounting firm who understands how to work with clients in expansion mode.
When you hire an accountant to do the books for your company, of course you want to make sure that they can perform the general tasks of numbers but you also need to evaluate their current client base and their track record for setting up partnerships between their clients? An accountant who doesn’t network his client base isn’t worth the fee. In this economic environment you need to choose your accounting professionals based off of strict criteria.
You don’t need a number cruncher. You need a number crunching networking executive with a strong and influential contact base to set up round table meetings, make introductions and help grow your company. Anyone with a general comprehension of tax law, book keeping and QuickBooks can be an accountant but few are able to facilitate all the additional services needed for an expanding corporation. You should pick an accounting firm based off of 10% expertise, 30% fees and 60% contacts and track record for helping expanding companies. Don’t settle for anything less.
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Over The Counter Bulletin Board – Take Your Company Public – OTCBB
Posted by: | CommentsSo many companies dream of going public both as a growth and exit strategy but unfortunately few succeed with this process. The third party audit, sponsoring of the S1 and 211 by a market maker and SEC comments stage is just one of the obstacles involved with taking a company public. The attempt at going public and actually achieving a symbol are two entirely different things and if you are lucky enough to achieve a symbol there’s a completely separate area of expertise needed to keep your stock trading and to preserve a company’s longevity in the marketplace.
Here are some things you need to keep in mind when gearing up to take your company public. Forget everything that you’ve read and heard and pay attention to what you’re about to read because this is the straight forward, objective reality of the process. First, do not hire an attorney to take you public as they will take you on a long drawn out process to get as many billable hours as possible, instead, hire a consulting firm whose sole business model is to take companies public and take advantage of the relationships that they have with attorneys. This is the first rule: hire a consulting firm that offers a complete A to Z turn-key solution for taking a company through the process of going public, achieving a symbol and preserving the trade with a solid, ongoing post public investor relations strategy.
Next, when you’ve decided on a consulting firm evaluate their team, don’t ask for references to call to research their track record, better yet, ask for symbols of previous clients and links to the Edgar database to check out current deals in the comments stage. The proof is in the empirical track record, not potentially fraudulent phone references that are easily engineered and BS.
Now look at their team. Make sure that the consulting group has a solid legal team, market makers, investor relations team, auditing group and someone well versed in the comments stage response as this can be one of the major hang-ups in achieving your symbol in a timely manner. Also, most important, they absolutely MUST have a solid group of investors to fund the process for equity and to sell their shares into the marketplace post public to create a market for your stock as well as a network of market makers familiar with your deal to piggyback off of the sponsoring market maker’s 211.
About one month away from symbol achievement you’ll want to meet with your consultants to get a solid IR strategy together for a big offering dbut. You will want to set up a strategy for 30 day IR intensives every other month with general corporate publicity strategies in between. I suggest changing your IR firm each quarter to keep it fresh and open up your trade to a new network of investors.
One special note to consider is that when you are raising your initial round of capital from seed investors, the fastest way to do this is to have a fist full of contracts and purchase orders in hand to strengthen your position and publicize this reality with an arsenal of press releases. Its 100 times easier to raise capital if you are showing seed investors a handful of ’soon to be’ cash than to solicit them empty handed.
Obviously there are a multitude of other issues that you need to take into consideration when going public so find a consulting firm that can help you make it happen. Don’t try to venture out into these waters on your own as you’ll be diving into shark infested waters and you’ll almost certainly fail.
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OTCBB – OTC – Serious Corporate Publicity- Over The Counter Bulletin Board
Posted by: | CommentsWe get calls all day, every day from companies that talk about ‘wanting’ real corporate publicity that will transform their company but few have the stomach for what it really takes and even fewer have the financial dedication it takes to obliterate their competition and take their rightful place at the top of the food chain.
Of course it’s important to cater to the traditional media (TV, radio, newspaper, industry journals, etc) but the genre of publicity that wins every time is viral publicity consisting of video, social and news bookmarks, article submissions, press release submissions and photo/logo sharing sites. The reality is online publicity is where you’re going to completely annihilate your competitors and claim your rightful position.
When you take into consideration the ultra powerful medium and stealth of viral publicity, all other promotional genres cower in comparison. Online your pre public or post public company will claim instant viewers and a cult-like following that TV and radio can’t even remotely compare. Billions of searches take place every day and it is the viral publicists job to do what SEO and traditional publicists can’t do and that is get solid search engine ranking while simultaneously bringing in powerful results that are targeted and strategically placed.
Forget pay per click, it’s a waste of your time. crush everything in your path with viral publicity that claims power positions on the natural search results on all search engines. You must have a solid combination of mediums at use to take control of targeted keywords and industry genres.
So the next time you tell your self-proclaimed publicist or seo agent that you need publicity that will claim your position and deliver virtually instantaneous results for your company, you’ll understand why there is silence on the other end of the line…because they have no clue as to what it takes to get serious results that will rip and shred everything in your path. The powerful combination of viral publicity and massive exposure will force-feed your concept to the willing masses who are pleading with a company in your industry to step up and spoon-feed the very info that your company is offering.
Stop wasting time and money with so called ’solutions’ that don’t work. You need a publicist, investor relations specialist and SEO demigod that will take you by the hand and pave a way for your company to succeed.
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Take Your Company Public: Is Business A Form Of War?
Posted by: | CommentsSo is business a form of warfare? If it is who are the pawns and who are the kings? Let’s look at the facts and past the 1980s clichs that chant: Greed Is Good and Business Is War as those chanting these phrases are often on the sidelines and not gifted enough to be on the field and playing and have no choice but to live vicariously through those they are jealously watching.
Everyone wants to be a player but in this industry you need a lot more than drive you need connections and capability. By connections I mean global political, global corporate, international finance and more. By capability I mean nerves of steel, the ability to bath in acid and swim with sharks and eat class for breakfast. This is one of the most stressful industries I know of with a burnout rate that is off the charts and any other global consultant that I know has struggled with their demons to stay on the top of their game. Business, by all categorical definition is War.
There are winners, losers, economies rise and economies crumble all because of global commerce. Global commerce as you know is control over the masses by an elite few. The elite are not the government officials as they themselves are pawns in a much larger game that even they don’t understand. Commerce and finance are numbers on a computer screen and fractional reserve lending, the IMF and other organizations at the end of marionette strings to impose the will of the elite on the global populace.
War in the form of economics is ongoing whereas war with guns and the military is to make a statement. Economic warfare is trade sanctions and limiting technology that will enable a developing nation to grow which will disable their industrial capabilities so that instead of a thriving economy they are dependent on the involvement by industrialized nations. With the Bretton Woods Convention in 1944 and the reconstruction of Europe and the doing away with the gold standard the above mentioned Numbers On A Screen are dictated by who holds the most economic collateral to enforce their idea of numbers.
This group of elites has the economic and military power to impose its will and enforce the idea that the numbers that they place on that screen are etched in stone and if those numbers demonstrate a Loan to a developing nation, though no actual empirical capital has been transferred, that developing nation now becomes a willing pawn in the overall game of economic warfare. So there you have it, business is indeed a form of warfare. This industry of global finance serves as the royal court while those around us are forced to play by the rules we invent and enforce.
I’m not saying that this is a good thing, I’m not exactly proud to be part of the problem but this is the awkward reality. I know you’re waiting for a happy ending or an idea that will help create a solution but I don’t have one.
When my firm is brought in as a strategist and alliance facilitator for global rollups, acquisitions, mergers and IPOs we try to create as many jobs as possible but let me ask you, by creating more jobs are we just perpetuating the problem of the masses being controlled by the few?
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Franchising Consulting – Franchise Promotion
Posted by: | CommentsMany companies have a unique service or product but either lacks the capital or know-how to go public. Going public slams open the doors to massive global capital possibilities and massive partnering and strategic growth capabilities. A financially broke company should never try to go public to raise money to stay afloat as you’ll only attract the fee based predatory consultants who make their money on individual fee oriented services without the ability to bring it all together in a turn-key solution so in the end there is no accountability.
The prototypical company that will succeed in going public is either a profitable and mature company or a start-up with contracts in place for capitalization and patented and/or proprietary technology or systems that give it a massive edge over competitors. The decision to go public should be based in the desire for rapid growth and capitalization. The qualities of a company that will succeed on the public forum is one with a solid executive staff, experienced board of directors and a service that is recession proof (Yeah I know, what business is recession proof?), and finished with the actual developmental stage with a solid product or service and identified partners and distribution sources.
If you realistically have a chance at going and staying public you’ll attract consulting firms and/or broker dealers and market makers and many times law firms that focus on taking companies public in return for minor upfront fees and a solid equity position. Be careful not to sign on with a company that does not offer a ‘one stop shop’ or turn-key solutions which includes everything if you are going to be paying an upfront fee and equity. Many solid firms will ask for both fee and equity compensation and it’s worth it if they are truly capable of delivering a full range of services.
You should have a polite yet rigorous interview process with the firm before signing on. The ideal situation for a company going public is to partner with a consulting firm or broker dealer who offers absolutely everything you will need to succeed in the pre-IPO and post-IPO market. Expect to pay a fee for corporate structuring, business plan, private placement memorandum and Direct Public Offering to the firms database of investors (if they do not offer an introduction service to investors you should not take them seriously as a full service consulting firm as they are only offering you a sandwich without the bread).
Parts that a consulting firm will partner on if they can truly take your company public from A to Z is the initial Direct Public Offering to an in house group of investors who will invest the capital needed to pay for the audit (though many times this will have to come out of your pocket even if you team of with the best firms in the business), S1 filing and comments, SEC and FINRA approval and ultimately to the point where a market maker or broker dealer is selling your securities to the public. Sometimes it’s good to just hire a company that is strictly fee based for your ‘going public’ ambitions but be prepared to pay hefty fees. If you are a solid corporation with a realistic chance at going public, you’ll be able to tell by the tone that consulting firms have with you when you engage them in the initial phone consultation. If you’re ready to go public, a proper consultant will be able to identify your position in the market place to fill in the blanks.
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