INTRO: SELF-FUNDED SEARCHER WITH B2B OPS, FINANCE & STRATEGY EXPERTISE
Hello fellow searchfunders!
I've been strongly encouraged to introduce myself, so here goes. My name is Tiffany C. Wright. I recently put my consulting firm on the back burner to focus on buying companies. I bought one back in[redacted]exited in[redacted]but had been serving as an interim CFO then COO thereafter. Later I switched to consulting, where the restructuring had to happen quicker. I saw the major impact I had on businesses in a short time and began to think it was time to buy again. Then I had two clients sell their businesses or a percentage of there business. For both, what I did dramatically improved their EBITDA and multiple so I decided it's definitely time.
I love figuring out the puzzle - what are the underlying issues driving the financials? Is it strategic, poor operational oversight, no understanding of what the financials are saying about the business, poor credit and collection policies...? I excel at drilling down into the source issues quickly by talking to people - especially employees at all levels but also customers, suppliers and partners. This also makes me really good at due diligence.
WHY PARTNER WITH ME?
• My entire career post-Siebel Systems has been focused on starting, buying, advising, managing or restructuring small businesses.
• I focus on driving results. I have had P&L responsibility for years.
• I started my career as an engineer (Honda - US and Japan). I have maintained that respect for employees on the front line and attention to detail ever since. I have also changed industries numerous times. I believe my engineering foundation helps me quickly determine and understand the basics of each industry.
• After not getting to closing on 2 bigger deals in 2009 and[redacted]despite having the funding locked down and an actual closing date), I worked on increasing my emotional intelligence. I now can read business owners, executive management and so on well. I understand the issues and concerns business owners have as well as the dynamics of family businesses and businesses run by multiple owners.
Served as Interim COO or CFO to SMBs in the Midwest, southeast & mid-Atlantic regions for 5 years. Provided strategy and strategic marketing, financial, and operational consulting to small and medium-sized companies. Helped clients secure financing, analyze markets, set strategy, and successfully execute business plans. Procured over $17.5 Million in financing. Highlights from 3 different positions include:
• Changed out broken IT infrastructure. Moved to cloud-based providers for disaster recovery and employee mobility.
• Created and implemented partner strategy and program, helping to increase revenues by 45%.
• Crafted and drove sales support program that helped drive telemarketing to sales conversion rate up by 50%.
Served as a SMB restructuring consultant. Two examples:
• Helped multi-owner A&E client increase its revenues by nearly 30%, while increasing profit by 250% in one year. Helped owners
identify and set company goals. Revamped organizational structure, identified and set KPI targets, implemented weekly principal
meetings with structured agendas, and created and implemented an employee evaluation system.
• Helped $28 MM multi-owner manufacturing and construction firm achieve revenues and profits that nearly equaled the previous
year despite being on target for a 20% reduction at the mid-year point. Drove a reduction in turnover from 150% to 30% in less
than 6 months. Helped increase company value from 2*EBITDA to 5.5*EBITDA sales price in 1.5 years.
• Started and ran a residential property investment firm with $4M in holdings in Atlanta and Houston.
• Education: Wharton School of Business, University of Pennsylvania, MBA; The Ohio State University, B.S. in Industrial & Systems Engineering
• Southeast region (Georgia, North Carolina, South Carolina, Florida)
• B2B service companies - particularly staffing, digital marketing and IT services
• Will consider light manufacturers and inventory-light distributors
• Operations intensive - NOT sales or creative driven (i.e., website marketing firm (YES) vs. Creative Advertising Agency (NO); medical staffing firm (YES) vs. technical services executive recruitment firm (NO))
-> Profitable but cash flow constrained
-> Opportunities for operational improvements through better employee infrastructure, management, cash flow policies, etc.
-> EBITDA: $400,000 to $600,000
I'm not interested in financially distressed businesses but I will consider firms with serious cash flow issues (i.e., profitability looks good on paper but the company's operational cash flow does not). I intend to work as the CEO and COO until I install the operational and financial infrastructure needed to increase profitability and cash flow, improve employee morale, and build a strong(er) team. Then I intend to install someone as GM (timeframe: ~ 6-12 months), continue the improvements and focus on expansion,