By FLG Partners
At FLG Partners, we love success stories. And these are always best described in the words of our clients who are in the driver’s seat, taking the risks and making the investments to execute these positive steps forward at their companies.
This month, we share a story in First Round Review from Sam Shank, CEO at Hotel Tonight who describes his decision in 2016 to radically change course at his company, from a focus on rapid growth with a $2.5 million monthly cash burn to a new path to profitability. The internal requirements to execute this change in strategy were painful and immediate but the lessons learned, a valuable road map for other companies charting a similar course.
Laureen DeBuono, current interim CFO and CEO advisor to Sam and working in partnership with FLG’s Eric Hall at Hotel Tonight notes, “Our value-add to Hotel Tonight has been to enhance the finance team at the company helping them to forecast more effectively, and to continue to develop and execute on their plan to profitability.”
