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May 17, 2017

Shark Tank Cover Story in COMMERCE Features Alex Serrano Discussing Helping Entrepreneurs Manage Goals

Featuring Alex Serrano

COMMERCE magazine's May 9, 2017 cover story,"Shark Tank Investor/Entrepreneur Daymond John Means Business"  features an interview with Daymond John—a star investor and entrepreneur on ABC-TV’s Shark Tank.   Along with his dsicussion about making money, empowering entrepreneurs and the secrets to his success, the article features insights from leading industry service providers, like Citrin Cooperman's New Jersey Managing Partner, Alex Serrano, on how they support entrepreneurs and help their businesses to thrive and grow in New Jersey.  

The following excerpt, authored byAlex Serrano, provides examples of how to help entrepreneurs manage their goals:

Entrepreneurs are the spark that ignites the American economy – they are passionate about their product/service and persistent in reaching their goals. They do, however, require business guidance from professionals like Citrin Cooperman in order to attain their goals. Among the extensive services we provide, most importantly, is helping entrepreneurs manage their goals. The following are a few recent examples: 
 
  • Setting up an appropriate entity structure for a business at inception, with their ultimate goals in mind, helped our client plan for future success, through employee retention and outside investment.
  • Using a profit interest strategy, which admits employees into a partnership via a non-taxable event, helped our client retain its key sales people by rewarding them for their contributions, as the company grows.  
  • Setting up dashboards, which monitor the profitability of customer accounts by capturing the per-hour cost and revenue of each major customer, helped our client improve efficiencies in running their accounts, and also price future jobs more accurately.  
  • Our transactional advisory services group performed due diligence on a target company for a client, during an acquisition, where we identified factors that assisted our client in favorably negotiating the purchased price of the target company.
For more information about these and other considerations for entrepreneurs, please write to Alex at aserrano@citrincooperman.com