Your burning questions answered by our experts! The Experts in Residence series makes professional advice from experts in a range of fields – from fundraising to marketing, public speaking to banking – available to all Hub members for free on a weekly basis. Find out more about who they are and what they do with this mini interview series!
Today meet Emilie Wilcox, Director of Risk and Performance Services at Baiame Consulting. How can she help you? Read on to find out!
What makes you an “expert” in your field?
I am a 13 year veteran of the business/management consulting world, hold an MBA, am working on a CPA, and have a background in internal audit and financial services. I have over 12 years of experience working with public sector organizations, and have over 7 years of experience specifically working with small start-ups and not-for-profits to tackle challenging business issues (e.g. scaling, value propositions, cash flow analysis, financial modelling, business modelling, investment analysis, operations analysis, etc). In addition, I have worked in multiple industries over the course of my career including financial services, food and beverage, communications, construction, defence and education and I have done so in five different countries (Canada, Australia, Spain, Ireland and Peru).
What are the most common questions you get asked by your clients during your first meeting?
What do investors think about/need from me?
What am I missing in my business model?
How do you do a value proposition?
What are my options?
What can Hubbers come to you for help with?
Anything business related!! I love trying to solve business problems, no matter the subject!! During the 20 minute slot I’ll likely ask you a slew of questions about your business model and operations, what you’re trying to achieve and what you’ve done to date. This will give me the context needed to delve deeper into the actual problem you’re facing. I will give you some food for thought in the first session, but may ask you to come back for one or two more sessions if it’s a more complex issue. I have even met separately with people when the issue requires more dedicated thinking/detailed engagement. The first meeting will just help us to figure out what more might be required.
What are the most common “business fails” that you see?
An incorrect understanding of cash flow requirements – it’s by far the number one thing that small businesses and not-for-profits get wrong and/or don’t think through that gets them into trouble when they need to pay bills and don’t yet have the revenue to do so.
After that, trying to do too much at once, or being pulled in too many directions, is probably the next one. I’m at fault for this myself and constantly have to check whether I’m on track with my strategic goals or whether my head has been turned by shiny new objects!
Come and see Emilie every Tuesday from 1-2pm [only for members of Impact Hub Ottawa – not a member? Become one today!]
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