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Assessment

The Initial Assessment

2. The Management Dialogue

The next order of business is the The Management Dialogue, in which we gain a clear understanding of Management's perspective regarding key areas of the business. Often consuming at least the first few hours of the first day on-site, this particular dialogue may also be the encompassing format for the entire two-day visit, as even subsequent areas are explored with the primary manager's assistance. It is very important that the primary manager become comfortable with the guaranteed confidentiality of this particular time, as MEC will seek to explore even delicate areas of strengths and weaknesses to best be able to help all parties concerned. Complete honesty is paramount, and the Manager should see even weaknesses identified as good things, which lead to MEC's recommendation for remedy which may include the creating of certain new positions in the organization, increased capitalization of certain areas, or merely smaller adustments in methods of operation for focus. No one is perfect, but properly identifying shortcomings in some areas is necessary to allow fortification in those areas, and to allow Management to focus more happily on the strengths they bring to the organization. Thus, it is imperative that Management is able to be completely open and candid in this time, to equip MEC with the information required to recommend solutions that will accomplish the objectives of everyone involved. Specific topics and questions dealt with in the the Management Dialogue generally include, but are limited to the following areas:

  • The History of the business, including:
    • How the original concept was developed
    • How investors were approached
    • How capitalization was secured
    • What was communicated to Investor(s) in terms of expectations
    • How did Investor expectations differ in Management's opinion
    • How has the Investor relationship been managed
    • Original milestones, and goals actually accomplished,
    • Unexpected setbacks encountered
    • Personal observations and conclusions about the past
  • Current Status of the business
    • Trends that may be developing
    • Differences from initial expectations
    • Concerns with the present status
    • Strengths to be more capitalized upon
    • Weaknesses or areas needing improvement
    • Fears about the current direction of the company
    • Hunches of issues that may not be apparent
    • Personal opinions regarding the company
  • Future Potential of the business
    • What Management believes the company actually has
    • What is probably most needed to succeed
    • Possible scenarios for growth
    • Possible scenarios of demise and probable causes
    • Personal Ideas and strategies for optimization
  • Review of the Business Plan
  • Revised Projections
  • Methods of Operation
  • What Problems would more money be able to solve
  • What problems are not solvable by money
  • Questions Management would like to have answered
  • Objectives Mangement would like to have accomplished by MEC

Assessment - Overview

The Initial Assessment

1. The Client Dialogue
2. The Management Dialogue
3. Technology Evaluation
4. The Financials
5. Contracts Review
6. Operations & Profitability
7. Marketing
8. Industry Relations
9. Investment Strategies
10. The Report

Optimization

NEXT: Technology Evaluation