We Connect Troubled Companies with Turnaround Specialists
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Read the bios of three featured turnaround specialists below.
Elementary Business Inc.
Elementary Business Inc. is a specialized consulting firm for distressed businesses and entities in transition. We work closely with owners to structure improvements in both operations and finances, focusing returning a company to profitability and growth.
Initial consultations are free, to get started with your free evaluation, click here.
Elementary Business Inc. (“EBI”) is a specialized business consulting firm helping companies with pre- and post-bankruptcy work, forensic engagements, and high-end IT projects.
EBI enters an engagement as a company begins to suffer from cash flow issues resulting in difficulties paying creditors and suppliers. Often the company is losing support from vendors not recognizing how important essential suppliers are to their solvency.
After 25+ years of working in the restructuring world, EBI works to satisfy vendors, educating companies on how important these relationships are. With the support of essential creditors, the company can begin the restructuring process to regain financial solvency.
Referrals come from creditors whose clients have fallen behind on payments or have fully used their lines of credit.
The founder, Mr. Goldstein draws from over 45 years of experience with the last 25+ helping companies with specific issues. His specialty is working with management to avoid bankruptcy while keeping vendors and creditors paid. EBI also has achieved many successes with company operations; manufacturing and warehouse efficiencies as well as forensically preventing thefts.
Dan Goldstein, a partner in the firm, specializes in high-end IT projects as well as working restructuring assignments.
Available staff have over 50 years of experience in the financial world.
Mr. Goldstein is a former partner of a leading financial services consulting firm.
Highlights about Elementary Business Inc.
After consulting for more than ninety companies, Messrs. Goldstein wrote two books on business, both selling on Amazon. A third book is presently with an agent about to get a publisher. The working title is “How Professionals Deal with Narcissists in Business.”
9 Lessons for Business Success
All you need to know to operate a successful business
by Neil Goldstein
View on Amazon
How to Avoid Corporate Bankruptcy
And Still Get the Benefits Without the Expense, Lawyers, and Oversight
by Neil and Dan Goldstein
View on Amazon
Successes include:
- Family businesses were more successful due to a clear understanding of how they are different from non-family businesses.
- Turnaround operations were successful in helping company go from losses to profits.
- New lenders replaced existing “fatigued” ones.
- Factory operations increased productivity and gross margins.
- Backlog of orders completed and shipped to customers.
- Litigation support helped for a successful outcome.
- Due diligence accuracy helped companies to better understand the targeted business.
- Forensic engagements uncovered thefts of money, products, and services. - Performed audits and examinations for lenders to support issuance of credit facilities
- Helped lender get control then sell company taken on a Peaceful Possession.
- Receiver for a business per a court order.
- Worked in factories in Mexico, Dominican Republic, Puerto Rico, and Guatemala
- Mentor at SCORE, Service Core of Retired Executives; and PCV, Pacific Coast Ventures
Cambridge Financial Services LLC
Since 1985, Cambridge Financial Services LLC has been providing turnaround consulting services, financial restructuring and placement services and strategic financial advisory assistance.
Initial consultations are free, to get started with your free evaluation, click here.
Nick Jalowski is the Founder and has been the Managing Director of Cambridge Financial Services, LLC since its inception. In addition to his role in overseeing the management of the firm, he is a practitioner specializing in strategic consulting to firms in need of guidance in turnaround management, corporate revitalization, financing negotiations, loan restructuring and/or workout management.
He is also occasionally engaged as an expert in litigations involving financial issues. He brings a wealth of experience to his assignments not only from past client engagements, but also as an owner in various businesses. He achieved the “Certified Management Consultant” designation from the Institute of Certified Management Consultants, and is in a select group of practitioners that have attained the designation of “Certified Turnaround Professional” from the Turnaround Management Association.
In addition to his duties at Cambridge Financial, Nick Jalowski is a Past President and Chairman of the Board of Directors of the New Jersey Turnaround Management Association, a member of the Secured Finance Network, New Jersey Chapter, and a member of the New York Institute of Credit. He is a frequent guest speaker for various organizations. He was a past member of the Board of Directors of the Make-A-Wish Foundation of New Jersey. Formerly a corporate banker with Bank of New York in New York City, and Fidelity Union Bank in New Jersey, he is a graduate of the McIntyre School of Commerce at the University of Virginia and resides in New Jersey.
SeatonHill Partners
SeatonHill Partners is a rapidly growing national strategic CFO services firm solving common to complex financial problems that create risk to survival and growth for thousands of small and medium-sized businesses.
Initial consultations are free, to get started with your free evaluation, click here.
We understand that to drive your business forward, you need to make mission-critical decisions that outpace the competition. But in business, speed requires clarity. Our seasoned experts will ensure your approach is detailed, rational, and most importantly, strategic.
Our clients receive:
· The backing of a national firm to augment your team and support rapid growth
· Strategic guidance to turnaround and restructure capital, functions, or staff
· Informed and objective thinking and insights to guide decision-making
SeatonHill Partners represent the top echelon of CFO talent. Together, we provide a complete range of CFO services for your needs and organizational structure.
· Finance Organization Leadership
· Project-based Advisory Services
Our national Turnaround and Restructuring Practice is staffed with highly credentialed CFOs who bring an average of 20+ years of business and financial leadership experience with some of the most significant and impactful companies in the world.
John Ball, CEO and co-founder has served as CFO, COO, and CEO in a variety of industries. He was CEO and led the turnaround of the largest marine construction and repair company in Hawaii. Prior to that, he was COO and CFO of a manufacturer of custom voice/data communication systems for control center environments in commercial and military markets. And, as CFO of an electronic systems manufacturer, he was instrumental in bringing the company from near bankruptcy to a Forbes Up and Comer company in three years.
Success Stories
Success Stories from Elementary Business Inc.
Jewelry Wholesaler Suffers Catastrophic Event, Recovers and Pays Outstanding Balances
A jewelry wholesaler imported lead costume jewelry from the Orient. After lead jewelry was outlawed due to its lethal possibility if swallowed, the company suffered catastrophic financial distress.
All orders from mass retailers were returned. The manufacturer was not liable since the jewelry wholesaler had placed the orders for the lead jewelry.
With retailers returning all lead jewelry, the wholesaler could not collect on its outstanding invoices—upon which lenders had made advances from an Asset Based Loan.
Elementary Business was called in to work with the lender and provide financial projections. Those projections revealed exactly how the lender’s over advances would be repaid from new orders.
The jewelry wholesaler received new, unleaded jewelry from the manufacturer, shipped to existing customers, submitted invoices to the lender who was repaid within five months. The once troubled company continued to operate successfully. an answer here.
Insolvent Manufacturer Regains Profitability & Pays Off Vendors
An insolvent manufacturer and wholesaler of Pest Control Products had orders from a loyal following of customers but insufficient money to purchase raw materials to make their products. As the turnaround specialist involved, we arranged an injection of capital to purchase raw materials. Elementary Business Inc. installed a Chief Restructuring Officer while also reorganizing the finances, operations and procurement of raw materials. With creative methodologies, prices for raw materials were reduced by 50%. A bloated staff of thirty was reduce to fifteen. As a result profits were achieved, eventually increasing 20% year-over-year.er here.
Success Story from Cambridge Financial Services LLC
From Pandemic Shut-Down to Vendors Being Paid in Full
A designer and manufacturer of formal dresses got hit hard when the pandemic shut down their customer base of hundreds of boutique stores.
Business almost ground to a halt.
Customers stopped purchasing, as well as stopped paying outstanding invoices. In turn, the company’s cash flow could not allow payment to vendors, and still keep the doors open. There was a real risk of a liquidation of the business and unsecured creditors taking big losses.
While the company’s bank was supportive, it recommended the company hire a turnaround management firm to develop and implement strategies and tactics to keep the business viable. Cambridge Financial Services was retained for the assignment.
We immediately renegotiated terms with the bank to provide ongoing working capital, while implementing decisions to “right size” the business.
Ongoing communication with vendors in many countries was a key to keeping supply lines open.
In addition, emphasis was placed on collections of receivables to keep the cash flow coming in.
Revenue eventually picked up and returned the company to profitability.
A new Enterprise Resource Planning (ERP) system was implemented to replace aging software and take advantage of efficiencies of scale.
Interaction between departments was improved, as well as the customer experience through a new portal.
The company is now a more efficient operation as it returns to even higher revenue levels than before the pandemic.
More importantly, every vendor has been paid in full for past invoices and are experiencing increased business from the client.
Success Story from SeatonHill Partners
Weathering an Industry's Recession
Invited by an investment banker to assist with selling an oil field service company, SeatonHill joined the client’s team as the interim CFO. This occurred about the time of a precipitous decline in oil prices.
SeatonHill immediately recognized how the client could improve its operations and weather the industry’s recession.
We went to work with the leadership team to turn the business around.
Meanwhile the sale of the firm was deferred until the new business processes could be installed.
Within a year the client was on a growth trend of both sales and earnings.
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