Previous experience as Principal and CFO in Private Equity, CFO of small and large organizations and experience with national accounting firms. A strategic thinker, Mindy has a broad spectrum of expertise in the financial category, which drives higher valuations and greater peace of mind for her clients. As CEO of Mindy Barker & Associates, Mindy works to empower her clients with the tools and financial information necessary to improve company value, profitability, and cash flow. Mindy has a unique background working in both private equity and growth companies. She has a proven track record of driving strategy and execution to facilitate deliberate growth in a manner that allows an entrepreneur to refine and realize his or her vision. Prior to founding Mindy Barker & Associates, Mindy was the chief financial officer for OptaComp, a workers compensation company and subsidiary of Florida Blue. She also served as controller of Kemper Services Group and was principal and chief financial officer of Chartwell Capital, a private equity firm. Mindy’s diverse background also includes management positions in the industries of property and casualty insurance, distribution and manufacturing, and consulting. Mindy began her career in public accounting with Price Waterhouse Coopers and Ernst and Young. Mindy holds a Bachelors of Arts degree in Accounting from Converse College and is a certified public accountant in Florida and North Carolina.
The terms of each deal are important when making this comparison. The biggest difference you should consider is the convertible debt option will most likely put you personally in a position to guarantee the debt. The company could also be strapped with cash obligations if the terms call for payments of interest or principal in the short term. You have to evaluate your Company's burn rate, the terms of each deal and compare on compare in a comprehensive manner. I have had experience with many term sheets. Feel free to reach out to me if you would like to set up a time to talk.
The restaurant business is very difficult. You need specific restaurant experience in the founder group. Make sure you have done a lot of homework - make sure you have a unique value proposition for potential customers. Spend a lot of time selecting the location - make sure it will draw customers, there is enough parking outside the restaurant and the building itself can pass the local regulatory standards for a restaurant. Consider if you need to sell alcohol and if yes, research what the regulations are for that. I you start paying rent and work on getting a restaurant up and going an do not have a permit - it will keep you from generating revenue and increase the capital you will have to invest in the startup phase. I have had a lot of experience setting up budgets and forecasts for businesses. Please feel free to set up a call if you would like to discuss.
The loan does impact the valuation of the entity; however, it does not stop the conversation with a potential investor. If the Company can cash flow the money to pay the debt and continue to build enterprise value at the same time, an investor will remain interested.
I have seen entities attempt to raise money just to pay off past debts and this is not attractive to an investor. Make sure you are building a company with value.
Feel free to schedule a call if you would like to discuss further.
You can raise money for 2 online businesses with the same parent at the same time. The term sheet and closing documents need to be crystal clear regarding the ownership and rights. If the parent company pays compensation for any of the employees that work on the 2 online businesses, a management agreement may make sense to outline the percentage of time allocation.
I have seen this arrangement in many situations and the "if" - compensation - is one of many "ifs", you should think through when deciding if you should raise money with the existing legal entities or set up new one(s).
You do need to make certain the arrangement is transparent and clear to all or disputes can slow the progress of the business. Please feel free to schedule a call if you would like to discuss the arrangement you have in mind.
You should include the new job on your resume. Honesty is essential as you begin a relationship with a potential investor or lender. Be realistic with yourself and with the lender regarding your time commitment. Starting a new job and a new company at the same time seems overwhelming.
The projections should be realistic. At some point the business will grow and you will need to work there full time or hire someone to work full time to run it. Make sure you do include that costs as well.
I have seen a number of mistakes with entrepreneurs working on a business and not handling projections and/or compensation correctly. Please feel free to set up a call if you would like to discuss further.
Based on what you have written here, you have proven "The dogs will eat the dog food." Do you have the cost to deliver the product in an analysis that will show a potential investor it will be profitable? Do you have a business plan? You need this information in order to get through the filtering process a potential investor will put you through. Make sure as you are beginning to deliver the product, you maintain an accurate list of costs you can compare to your projections and make sure they are realistic.
I have reviewed a number of business plans presented to investors. The best ones have a one page executive summary with a very high level describing the "Why" the product exists, macro projections and a high level summary of the leadership team. The detail follows in the actual business plan. You only have a few minutes to get the investors attention enough to turn the page and keep reading.
Feel free to reach out for a call if you would like to discuss further.
You absolutely need to have a patent attorney check other patents before you spend time and money developing a website. You should also do searches on website names to make sure you can get a name that will work for what you are launching. I heard a true story yesterday about an entrepreneur that was very successful and a large company began to use her name and idea , which she had not patented and registered properly. It unfortunately put her out of business. I have some ideas on what you can do yourself and what you absolutely need an attorney for if you would like to set up a call.
Make sure you are offering a product others want to purchase at a competitive price. You can do your own research regarding competitive pricing or use software that assist with the detail research. Your question does not note what types of product you are selling; however, most product sells are seasonal and that may be causing the dip you are experiencing. Compare the results to the same week last year and the year before and review trends. I work with clients that sell products on line - feel free to set up a call if I can assist further.