Builder Two

This infill builder was highly leveraged with financials that were in very poor shape. The company had incredibly talented founders but their expertise was not in finance.  The company had no inventory reporting or cash flow forecasting and was largely driving blind with regard to the future and even its current state.  In addition, processes and procedures were non-existent. The company was operating in the dark with very little helpful information for any decisions they were making.

Shortly after I was retained as consulting CFO, the COO left the company, and the principals asked me if I would step in and fill in that role as well.

I accepted the additional role, and within several months we:

• Implemented Builder Navigator software to provide cash flow forecasts and inventory reporting
• Got their financials in order
• Decreased staff turnover (which had been a major disruption) and stabilized stabilize morale

We also

• Defined positions and workflow with touch points all across the company and assigned personnel to each position
• Secured financing with substantially lower interest rates
• Started developing new relationships with conventional banks (as opposed to hard money lenders)

One of the personnel who had been with another builder for about 30 years said, “Lamont has this place running smoother than we ever did at X builder {His previous employer)”.