The founders of innovative businesses—ones making waves in technology, life sciences, and new media—are focused on impact. Unimpressed with the status quo, these talented entrepreneurs are working to drive change meaningfully.
Many of these leaders bring specialized skill sets perfect for helping them carve out a new niche or even launch a new industry. They surround themselves with intelligent, creative teams and build businesses that allow their talents to shine and make a difference in the world.
But as any founder knows, running a successful business in the long term requires more than talent and subject-matter expertise. Even the best ideas must be supported by robust business systems behind the scenes to ensure that the lights stay on, the employees get paid, and the company has what it needs to grow.
Partnering with a forward-thinking financial firm like Wiss allows innovative founders and executives to augment their skills as leaders by relying on experienced professionals to support and guide the financial aspects of a growing business.
Upgrade your business acumen and market perspective
The value of financial advisory partnerships lies in personalization. At the beginning of a new relationship with a business, advisors work to determine the leaders’ specific skills and expertise and then propose a plan for filling in the gaps.
Leaders then choose from a long menu of available services — everything from the basics of financial management, like bookkeeping and tax compliance, to more complex business needs, such as financial modeling or structuring employee compensation plans.
One of the most significant ways an advisory partnership offers guidance is through the advisors’ deep market knowledge and experience. Having worked with many companies — including ones that may operate similarly to one another — Wiss advisors can analyze problems and make recommendations based on real-life examples.
Advisory teams are also plugged into the market, where they will likely become aware of changing market conditions before their clients. They are then able to bring a degree of foresight and preparedness to impending business decisions.
Look toward — and invest in — the future
Innovative business leaders are looking to the future and building their companies accordingly, and they must choose financial advisory partners who do the same.
No matter the industry, leaders of startups and other future-focused businesses face an unpredictable path — precisely because they are clearing and paving that path themselves. As a result, their business support teams must take an equally agile approach to ensure that the business remains nimble as it grows.
Advisory firms like Wiss are deeply invested in the future — whether it’s through implementing technological solutions or continuously updating internal processes to prepare for what comes next. A partner that embraces progress at every level and is always looking for opportunities to innovate will be best positioned to advise forward-thinking leaders about what they might encounter on the road to success.
Choose a partnership that grows with the business
A valuable advisory partnership looks not only to the industry’s future but also to the business’s future. Wiss takes a team approach to advisory, which means that client businesses have access to multiple advisors that cover a variety of specialty areas addressing every stage of business development.
Here are some of the needs that an innovative startup may have as it grows:
- Selecting the organizational and tax structure
- Creating financial models to analyze possible next moves
- Hiring former independent contractors as new full-time employees
- Choosing a financing model such as venture capital investment, bank financing, or IPO
- Understanding the tax and revenue implications of commercialization
- Managing an expansion into international markets
- Navigating a successful exit or ownership transition
Forward-thinking financial advisors understand the ups and downs, expansions, and contractions that come with the growth and leadership of a change-making venture. The team at Wiss is actively invested in the future of financial advising, which equips Wiss advisors with the tools and perspective needed to guide innovative leadership teams to their next big thing.