Evergreen Advisors was ranked 6^th in the Baltimore Book of Lists recently-published 2011 list of Largest Management Consulting firms. More than 50 companies were surveyed for this list and the growth Evergreen has seen helped lift the firm to the top. Evergreen assisted 75 clients in 2010 with 46 being the in Baltimore Metro Area.

“We take great pride in being ranked in the BBJ’s “Book of Lists,” remarked Rick Kohr, CEO. “Helping business owners in our community Realize their Destiny is our mission. We want to help as many area companies as we can. “

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The biggest weakness we see in entrepreneurial businesses is a lack of access to high-level financial guidance when and where it is needed. At the end of the month, quarter, or year, it is all about the numbers. Revenue, costs, cash flow – all the issues that keep an entrepreneur up at night. In any high growth business, a solid finance function is an early key to success. Yet the cost for a full-time CFO may be out of reach for many early-stage companies. For many businesses, a part-time CFO or an outsourced CFO can be that key. This is where those looking to get into the bookkeeping and accounting game may choose to start. It cannot be easy to create a virtual bookkeeping firm, but there are always businesses searching for the right firm to assist with their finances. Equally, those starting accounting firms or are already in the midst of it may require help with workflow management, as firms can get extremely busy, making it difficult to keep track of deadlines and progress. You can find out more at JetPack Workflow for accountants looking to make their day-to-day work life easier.

The leadership through an outsourced CFO solution can make a difference in your long-term financial strategy. While an office manager or bookkeeper can assist you on a day-to-day basis, this strategy does not provide you emphasis on the overall organization. The CFO service provide you a foundation for success.

The challenges we find in all emerging businesses include:

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Evergreen Advisors announces that Rick Kohr, CEO was named to the 13 member Howard County Cyber Commission. The newly formed commission will advise Howard County Executive Ken Ulman to help maximize opportunities generated by the growth of cyber activity in the Baltimore-Washington region.

 “Rick’s financial expertise is a welcome addition, and makes what was already a strong commission even stronger.  Much of the Cyber Commission’s work will focus on regional business development and job creation, so Rick’s in depth knowledge of investment banking and corporate financing will be invaluable,” said County Executive Ken Ulman.

 Kohr brings a wealth of knowledge to the commission in business development.  He serves on the board of many local technology companies and is actively involved with area business incubators and other business development initiatives.  “It’s an honor to serve on the Howard County Cyber Commission,” said Kohr.  “I look forward to working with the talented people serving on the commission and making recommendations that will maximize opportunities for Howard County in cyber security technology.”

WASHINGTON, DC/BALTIMORE, MD – Evergreen Advisors’ client Pathsensors, Inc., an environmental testing company that manufactures pathogen identification systems is positioning itself for future growth. Recently spun-off from Rockville based Innovative Biosensors Inc. (IBI), Pathsensors is a leading edge biotech company focused on the food testing and biosecurity market. The company recently was awarded a $5 million contract from the Department of Defense.

Pathsensors will be relocating to the UMB Biopark, in Baltimore Md., and will utilize a recently completed equity offering for expansion of sales and marketing, automation of quality systems and new product development.

Pathsensors received an investment from the Chesapeake Emerging Opportunities Club, LLC, which is an early-stage private equity investment fund focused on promising emerging growth companies in the mid-Atlantic region.

“When Pathsensors looked for a financial advisor we turned to Evergreen Advisors. With LeadJig, financial advisors can use omnichannel marketing so the chances are you will have contact with a lot of different companies. We selected Evergreen for their strength in Biotechnology and their ability to understand our needs. With Evergreen we know that not only would they guide us through the process but also develop a lasting relationship with us.” _________________________________________________________

I recently spent part of an an afternoon with Paul Silber, a valued Advisory Board Member. It was a fascinating discussion as we talked about his business career and how he has been “filling his time” since selling In Vitro Technologies four years ago – MG

Dealing with “too much of a good thing”

In 1986, Paul’s first job was at Mary Kay Cosmetics in Dallas, Texas. A newly minted Ph.D., “I thought I’d probably join P&G, or Smith Kline”, Paul said, “but Mary Kay was offering me the opportunity to pursue my greatest interest, Toxicology”. As Paul explained to me, the simplest definition of Toxicology is dealing with too much of a good thing. Paul loved the work he did at Mary Kay, “I could kill a product if necessary and more than once was called to Mary Kay’s office to talk about the affect of one of the company’s products on her sensitive skin”.

Mary Kay turned out to be a great experience for Paul; he worked closely with the regulatory affairs group, marketing, operations, and represented Mary Kay in Washington with the industry groups. “This turned out to be a very critical period for both the cosmetic and pharmaceutical industries as we came under attack by the animal rights groups.” “My boss and I saw an opportunity to start our own company, where animals were not necessary for testing and we began to use test tube methods instead to determine how things would react.” The company they started was called In Vitro Alternatives, and the “aha” moment was when Revlon announced they were going to stop all animal testing. One early bump in his new entrepreneurial life was the partnership failing, “we split the company in half and I never looked back. In Vitro test tube tests changed the paradigm and an American success story was underway.

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The biggest weakness we see in entrepreneurial businesses is a lack of access to high-level financial guidance when and where it’s needed. At the end of the month, quarter or year, it’s all about the numbers. Revenue, costs, cash flow, all the issues that keep an entrepreneur up at night. In any high growth business, a solid finance function is an early key to success. Yet the cost for a full time CFO may be out of reach for many early stage companies. For many businesses an outsourced CFO can be that key.

The challenges we find in all emerging businesses include:

• Lacking the accounting skills necessary to make difficult or urgent decisions
• Spending too much time in the business and not enough on the business
• Need for executive-level expertise, but no cost justification for a full-time position
• Obtaining meaningful, timely, and accurate financial statements and management information
• Evaluating equity transactions and owner equity protection
• Developing key relationships: venture capitalists, bankers, auditors, lawyers
• Maintaining vital flow of financial information during employee turnover or leaves of absence
• Selecting and implementing accounting software

How can Evergreen CFO help?
We provide experienced talent to address the challenges faced by emerging businesses on an outsourced, part-time basis. Our staff typically works one or more days per week on site, which positions us to immediately address pressing financial concerns, mentor staff, and help you make critical decisions.

Mark Gretz is a Vice President with Evergreen’s CFO Services department and he can be reached by calling 410-997-6000 x234 or e-mailing him at mgretz@evergreenadvisorsllc.com.

“The battle of life is, in most cases, fought uphill; and to win it without a struggle is perhaps to win it without honor. If there were no difficulties there would be no success; if there were nothing to struggle for, there would be nothing to be achieved.”

 

Samuel Smiles, a Scottish author & reformer (1812-1904)

Quote is from his most famous book, Self-Help

On many fronts we’re excited to bring you our Fall issue of Evergreen News. As we were planning for it, it struck us that this past Summer should have been called “the Summer of Champions.” The NHL and NBA finals, the US Open, Wimbledon, World Cup, British Open, Tour de France . . . and more. Competing in sports and business has everything in common with building an organization, creating a culture, dealing with adversity and much more.

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Building Organizations, Creating a Culture & Dealing with Adversity

A brief snapshot of Chairman Mike Gill’s interview with John Schuerholz, President of the Atlanta Braves and
Bill Miller, Chairman of Legg Mason Capital Management

This is Mike Gill. I am the Chairman of Evergreen Advisors. I’m here with John Schuerholz and Bill Miller.

John Schuerholz is president of the Atlanta Braves and has been since 2007. He was GM for 17 years prior to the promotion to president. Prior to that, John was with the Kansas City Royals for 22 years, 9 as General Manager. John has been involved with three championship teams: the ‘85 Royals, ‘95 Braves, and our hometown Baltimore Orioles in 1966.

Bill Miller is Chairman and Chief Investment Officer of Legg Mason Capital Management. Bill co-managed the Legg Mason value trust fund since its inception. From 1991 to 2005, the value trust beat the S&P 500 15 consecutive years. Smart Money called Bill Miller among the top 30 most influential people in investing. Money magazine called Miller the greatest money manger of the 90’s.

I want to start this interview off with a Lou Holtz quote which I think is fitting because what brought us together was this incredible streak between 1991 and 2005 of two individuals in their respective industries. It might be fair to say that it won’t be topped again. But Lou Holtz said something along these lines, “I’ve been on the top, I’ve been on the bottom and I’m probably gonna be in both places again”. Let’s talk about the streak for just a couple of minutes.

{Mike Gill} Bill let’s talk about ‘91 to 2005. When all of a sudden did you say to yourself, “This is pretty interesting. What’s going on with our effectiveness with the value trust fund?”

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It’s been well over twenty years since Gregg Smith, a kid out of Westfield, NJ, was in the goal for St. Mary’s College of Southern Maryland’s lacrosse team. “It was,” Gregg said, “win or lose, I’m the goalie.” It was that experience and the lessons learned that launched Gregg onto an incredibly successful and exciting business career.

From the intense lightning-fast world of college lacrosse, things haven’t changed much for Gregg. He has executed transactions worth nearly a half billion dollars, including the sale of seven companies. I asked Gregg what are the most important things he’s learned in the fast paced world of an entrepreneur. He said, “I think my leadership philosophy really started to develop while playing lacrosse at St. Mary’s. Whether you’re the goalie or the CEO, leading by example, working hard, remembering that the team is the most important of part of success, are the most important attributes.”

A long time friend of Gregg’s, Francis Knott, Senior Vice President of Inflection Point Systems, said this about Gregg. “I know Gregg personally and professionally; he’s all about people, integrity, constant improvement, willing to get outside your comfort zone. People want to work for Gregg and they want to win.”

Rick Kohr, founder and CEO of Evergreen said about Gregg, “He was the first person we asked to join our advisory board. Gregg’s energy, ideas, constant challenge to our senior management team on how we might do things better, makes him invaluable to our board.”

The young kid from New Jersey with a lacrosse stick has come a long way. He has a beautiful nineteen year old daughter, Kelsey, and a legion of people who he has touched inside and outside the business world.

As Rick and I talked about our spring Newsletter, our thoughts kept bringing us back to “March Madness.” Sports metaphors and sports as a learning, growing, teaching experience energize us and encourage us to aspire to greatness.

At Evergreen, we love March Madness and what it represents. In this issue we’re going to do our best to “connect the dots” on the characteristics of March Madness and how we experience them everyday in our professional lives.

We’re especially excited about our “Guest Q & A” which will feature Head Coach Gary Williams of the University of Maryland Terrapins. Gary is an amazing person. He embodies all the characteristics of a Champion. He is a young “65” (March 4th). When the day comes and “Coach” has taken his suits to the dry cleaner for the final time, he will be praised and recognized as one of the greatest coaches in the history of college basketball. It’s been almost 40 years since Gary first cut down the net as head coach at Woodrow Wilson High School in Camden, NJ. It was his first head coaching job as he led the team to the state title and a perfect 27-0 season. Thanks, Coach.

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