My son, and business partner is pursuing other interests and I need someone to help with the tasks he used to do. I've been told this is called an "operator", or someone who has experience in business strategy, interpreting cash flow projections, finding money. My business doesn't have the cash flow to pay someone yet. What are my options?
Are you revenue generating? Where are you in your business stage? My firm specializes in providing these services on an outsourced basis and I am the Capital Specialist, structuring and securing capital for businesses. Let's chat. firstname.lastname@example.org
"Operator" is not a term I've heard in relation to startup/early stage businesses before. They typically are brought in by private equity investors as part of a roll-up or turnaround acquisition. Other times they are "finders" themselves with an investment thesis they sell to PE firms. It usually means current management/ownership is removed or limited to advisory capacity. They get paid well including equity. If you have grown to a point where you need hands on operations help and don't have the cash flow to support same, you have a problem. Either you're not pricing appropriately or the market does not value your offering enough to support the business. I suggest you seek out mentor/advisory services from an incubator or SBA office to give you some guidance and realistic feedback. If you still want to continue, you may just have to perform the critical operational aspects of the business yourself and set some of your current tasks aside until you generate better financials.
Much depends upon your needs from a time perspective and a duration perspective.
Your options can include: 1. find a charitable organization that will c9me in and help you immediately but then leave. 2. find someone who will help you out as a charity for a few hours each week (would this be enough?) 3. pay equity which has both positives and negatives 4. make an arrangement with Seneca College or George Brown for apprentices (may not be the level you are seeking or need). Feel free to call me to talk this challenge out. 416-546-7052 Chris Neuman
WOuld like to know more about your business