Are Your Mid-Market Portfolio Companies Budgeting Now for 2024?
If your portfolio companies haven’t started the 2024 budgeting process, now is the time to begin. With the winds of economic uncertainty continuing to shift back and forth, there is even more urgency to drive 2023 year-end performance, and to plan for next year.
Budgeting is something mid-market companies either do well, not so well, or in some cases, don’t do at all. Establishing a simple but formalized budget planning process cannot be left to chance. Asking for budgets doesn’t ensure they will be done properly. Which means next year, you’ll again face the same daunting task.
Frequently, organizations lack the leadership and experience in budgeting to ensure accuracy. And most PE or VC sponsors cannot commit the level of time and attention required to dig deep into the data as well as consider and prioritize the needs of the various functional departments. If that’s the case, consider bringing in proven experts that offer the experience, knowledge and sense of urgency required to not only deliver budgets, forecasts and plans, but also build sustainable processes into the organization, stabilizing the team.
At Growth Operators, we embed with your teams and roll up our sleeves to get the work done. Our GrowthPros work as interim or fractional Finance and Accounting executives, to lead and/or assist with these critical processes. We treat each assignment uniquely, meeting the company where it is to ensure we develop the best possible solutions. Because all GrowthPros are operators, they are familiar with hands-on business stewardship and work diligently to achieve results. This success story with an HVAC client illustrates how our process delivers effective solutions.
Growth Operators has worked with over 60 Private Equity/Venture Capital firms on more than (need the number) assignments across 20+ industries. We understand not just the business, but we’re PE-fluent, understanding up front what’s important to PE/VC sponsors. Growth Operators:
- Have years of experience preparing budgets, forecasts and both short- and long term plans.
- We instill best practices into the organizations we support.
- Work with a sense of urgency – we understand the need to accelerate growth and show tangible results
- Act as true partners working alongside employees, developing strong relationships across the organization
- Identify insights and any gaps in the business – and fix them
- Approach the business holistically, not just from a Finance silo, improving planning and allocation of crucial resources
- Bring a key knowledge of technology and tools, matching the best options to a portfolio company’s needs, as well as implementing, integrating and training the team.
- Translate their larger corporate experience to mid-market teams. They have the experience to adjust and adapt to the needs of each client.
Our Growth Pros range from CFOs to VPs to directors and managers. All bring the same level of commitment to accelerating client growth, and work side-by-side with Operating Companies’ teams. Can you afford to wait any longer to begin your budgeting? Why not add the expertise you need and address these critical action items now? To lean more or schedule a call with us, [click here].