Business Consulting Services
In the modern complex and global business environment, it becomes difficult to keep up with all of the challenges you face in running your business. MM&B can relieve some of that pressure by using our expertise to keep your business ahead of the many obstacles you may encounter. We have specialists in a number of business areas that will help you navigate your business through the rough waters of today's market.
In response to the immediate challenges of middle market businesses in today’s economy MM&B has formed MM&B Consulting Services, LLC to extend its world class level of service to the areas of sales training/sales management and executive search. It is the mission of MM&B Consulting Services to help middle market businesses stay agile and continually reinvent themselves through training, best practices, and executive recruiting/retention in order to stay ahead of the curve in this competitive economy. Another way MM&B is working to make the Most of Your Business.
As a business owner, there are many reasons why you may need a fair and accurate assessment of your business' fair market value. Unfortunately, internally reported financial information is not sufficient for establishing the true worth of your business. Valuing a business requires insight into the subtleties of the various methods and strategies that will work best for you. Succession planning, mergers and acquisitions, or even third party requirements are all instances where a proper valuation of your business serves as an essential component of that strategy.
Whether you are planning to retire, sell, or acquire a business, we can work with you to determine the worth of your business and achieve your financial goals. A current valuation can offer peace of mind and help you plan for the future. Valuing a business entity requires special experience and skills, and cannot be based on emotional assumptions.
Protecting your small business should be a crucial part of your operational policy. Sometimes, things don't go as expected, which can result in costly and challenging problems. Avoid potential disputes by having protections in place before unforeseen situations arise. We can assist you by drafting various documents that protect your interests and meet the goals of your business planning strategy.
Buy-Sell Agreements are a valuable safeguard to ensure the continuity of your business in the event there is a need for a change in ownership. Whether an owner dies, retires, wants to sell, or otherwise leaves the business, a Buy-Sell Agreement can remove any ambiguity about what will happen to the business and its remaining owners. This also includes unforeseen situations that could have negative effects on the business.
MM&B can help you to identify and outline your goals in advance of such circumstances. We will work with you to structure a plan that meets the expectations of all stakeholders and allows you to focus on running your business, knowing that everyone's interests are safe and protected.
Mergers & Acquisitions
Navigating the ins and outs of a merger or acquisition is a complicated process that must be steered by a skilled advisor. You have spent many years building your business, and want to make sure you are in the right place when it comes time to contemplate such important transactions.
If your business is growing beyond its capacity and you are seeking to expand by acquiring or combining with another entity, or if you are looking to sell the business, we can help you through this process. Mergers and acquisitions can be very emotionally and technically challenging, and we can offer expert guidance and analysis that will put your business in the best positon possible for the transaction. A merger and acquisition accountant is a critical member of the team that can formulate the most valuable strategy for your particular situation. In addition, we can identify various pitfalls and issues that can weaken your position in the negotiation.
In many cases, the parties involved in a merger or acquisition may be going through the process for the first time; that is why your advisor is the key to successfully achieving objectives. Your MM&B advisory team will work with you and your external advisors, such as investment bankers, buyers, and other stakeholders. It is imperative that we become involved early on if you are thinking about a merger or acquisition, whether on the selling or buying side.
Business Plans and Start-ups
Having a well-engineered business plan can help keep your business on track. In many instances, lenders and others will want to see a business plan that gives them confidence in your abilities to make and keep the business operating successfully and profitably. No matter how long you have been in business, it is never too late to draft a written business plan for your organization.
With our knowledge of numerous markets and industries, we can help you draft a comprehensive and articulate business plan that clearly outlines your goals and strategies. Furthermore, we will consider the issues and concerns specific to your business and your industry as part of this plan. A strong business plan shows a thoughtful and decisive approach to managing your business.
Being an entrepreneur and starting a business from the ground up is exciting, but also presents unique challenges. Depending on your goals, we can help you decide on the optimal business structure, tax planning, and other considerations when embarking on this process. If you are already in business and are considering a spin-off of your existing company, we can help with a strategy that will maximize your chances of a successful enterprise.
We can offer an objective and unbiased opinion that will address issues such as tax consequences, liability, and operational needs, to maximize your likelihood of success.
Financial Forecasts & Projections
Forecasts and projections are a useful tool that can be used in managing your business. For example, tax planning, mergers and acquisitions, and bank requirements are just a few instances where you should contemplate a professional consultation.
While no one has a crystal ball that can look into the future, we have the knowledge and abilities to help you accurately determine a realistic view into your business' future financial performance. By means of a thorough and methodical analysis, we will provide a way to estimate what your business is expected to achieve in the short or long term. We will assess numerous factors, analyze trends, and ask the tough questions that provide a complete picture of your business at a date in the future.
Financial projections can help you with the planning of resource needs, expected tax liabilities, and to make smart and sound business decisions.
CFO Temp Services
Owners and managers of small businesses frequently find themselves overwhelmed with responsibilities that are critical, but take them away from the task of running the business. Sound financial planning and recording are undoubtedly important to any business. Ignoring these things almost always leads to financial complications.
If you are too busy with the nuts and bolts of your business, we can help you put the best people in place to design and implement sound fiscal systems that will allow you to both run and monitor operations at the same time. MM&B can help you determine the company's accounting needs, then screen and place temporary financial professionals that will get your financial reporting up to speed.
Whether you need a temporary bookkeeper, controller, or Chief Financial Officer, we can help find the fit that works best for your business. Once your needs change, we can help to devise and implement a long term solution that will provide you with the controls and oversight you need, at a cost that works best for your business.
Due Diligence and Quality of Earnings Reviews
In any business acquisition transaction, both the prospective buyer and the seller must exercise due care in the examination and analysis of the business under sale. A thorough understanding and analysis of all aspects of the business is critical in establishing a proper value and risk assessment of the business. These factors are absolutely necessary in order to make sound decisions during the buy or sell process.
As a prospective buyer, you need confidence that the target business' operational results, as represented, are accurate and realistic. In addition, knowledge that all factors that impact the business are known and disclosed is critical in making sound decisions about the transaction. You want to ensure that the condition of the business is clear and also aligns with your plans for the acquisition.
If you are contemplating the sale of your business, it is extremely important to know any issues that can adversely affect you during the transaction. It is far better to uncover and mitigate any problems before you commence any sale transaction rather than when you are already engaged in negotiations with an interested buyer. We can assess your business and highlight any areas of concern that could be detrimental to the sale. Maximizing the worth of your business during this process should be the goal, and provides you with as much negotiation power as possible.
Our acquisition specialists have years of leadership experience in this complicated business discipline, and have an extensive network of other professionals that work seamlessly together that will put your business in its best position possible.
No one knows your business better than you. However, sometimes it helps to have an outside, unbiased evaluation by an experienced business professional to identify and recommend areas of improvement in the day to day operations of the business. While you have an in-depth understanding of all the details of your business, we see a variety of companies in many different industries and markets. We learn from them what works and what doesn't.
You can leverage our knowledge of various industries and companies to implement proven strategies to enhance your operation in ways you may have never considered. We will gain a thorough understanding of your business and conduct a comprehensive operational assessment to find any areas that can be enhanced. Furthermore, we can provide tangible ways to implement these improvements and measure their results on your bottom line.
After our assessment, we will report our findings to you and offer practical solutions to improve your business. Such studies are extremely helpful to improving your business, and can even pay for themselves in cost savings and efficiencies you gain.
Small and family-owned businesses, unlike large public entities, face the additional challenge of ensuring continuity of operations as the existing owners transition out of the business. One formula for failure is to assume that successors want to, and will stay to work in the business. As a business owner, you must be aware of the reality that not everyone in the family will share your passion and ideas about how the business will run when you're not there any longer. Planning for the future of your business takes time and can be extremely complex.
Whether you are the first generation in your business, or have yourself succeeded one or more generations, you need professional guidance in ensuring the business carries forward in accordance with your plans and goals. Sometimes successive generations do not want to work in the business. Other times expectations and reality do not see eye to eye. Therefore, having a detailed succession plan in place is essential to the continued success of your business.
MM&B, as a specialist in closely-held businesses, can help you outline a business succession strategy that will match your goals and those of your heirs. Don't rely on assumptions and emotions when it comes to your family and your business. Have peace of mind in knowing that your plans for the future of both are secure.
MM&B's security professionals have decades of experience in law enforcement and electronic crime investigations. We can offer a comprehensive analysis of your business' cyber profile and offer a plan to close vulnerabilities.
Here are the facts…
Computers are a part of everyday life, both at home and in the workplace. It is important for companies and organizations of any size to consider the security of their computer systems and the data they contain. The compromise of data can have a devastating and long lasting impact on your business, whether it is caused by accident or a malicious, intentional act.
In today’s business environment, no person or entity is totally protected from a data incident, and unfortunately they happen all the time. Therefore, it is much better to plan and prevent data loss issues rather than to deal with an incident after it happens.
What’s your cybersecurity plan?
The biggest part of keeping sensitive company data safe and preventing disruption of the business is having a plan in place to minimize the likelihood of an incident and maximize effectiveness of a recovery should an incident occur.
Get the exact results you want
A thorough assessment by a cybersecurity professional can help identify and patch vulnerabilities, scan for problems, and even train employees to be aware of certain “red flags” that could indicate a problem.
Are you prepared for a computer incident?
You have enough to do with running your business day-to-day. Let us help give you the peace of mind to know your data is safe.
Our Products and Services
To ensure your Information Technology (IT) risk is minimized and to help plan for continuity of operations in the event of an incident, we can offer the following services to complement your cybersecurity plan:
- Awareness and Training
- IT Policy Design
- Risk and Threat Assessments
- Vulnerability Testing and Mitigation
- Compliance Support
- Response and Recovery
- IT Security Oversight