Healthcare Software & IT

Microwize Technology

Microwize Technology was started in 1998 by Fred Dawli and Robert Gabriel.  I had worked with Robert during his previous employment so he asked me to assist in his new venture in computer and network consulting.

I met with Robert and Fred to discuss the corporate structure prior to incorporating.  Based on their plans, I recommended incorporating as an LLC to take advantages of current tax benefits.

From the beginning, I was involved early and often in the decision-making process from accounting and tax planning to business marketing and goal setting.  We would meet on a monthly basis to discuss current performance and future goals.

During the first year, the startup was doing well with Robert and Fred as the only employees.  Then in 1999, with Y2K looming and having taken advantage of opportunities in serving the healthcare field, the company experienced excellent growth.  Microwize was able to maintain a 50% year over year growth through the first 5 years.  Reaching the one million dollars revenue mark in its fourth year.  Currently, Microwize employs 15 persons with revenues near two million and focuses solely on healthcare software and consulting.

As with any new business, there were many challenges and decisions to be made.  I was instrumental in developing a buy-sell agreement between the partners.  As the hiring process started, we developed a complete benefits plan including health and dental insurance, 401k plan, profit sharing, and a stock options plan.  During the growth phase, we were able to secure a bank line of credit to be used as a backup for growing expenses.  However, debt was never really much of an issue as we kept our eye on revenues and expenses and did not over-extend.  Meanwhile, the line of credit was used to take advantage of opportunities to secure software at special discounts.

Retail Services

A retail furniture store that has been in business for over 50 years, recognized the changes in their market and engaged William Heller Associates to assist them in their development of a plan to expand their business. Working with management a plan was developed to open a new retail furniture store that had brand recognition. After studying various manufacturers, the demographics of the market, and the availability of management, the principals opened a La-Z-Boy gallery in the Mid-Hudson Valley area of New York.

Due to the constant monitoring of the business, including its marketing and operations, the store in year one exceeded all expectations in terms of revenue and profitability.  Using this experience as a strategy the principal has now expanded to three stores doing approximately $11 million in revenue per annum in revenue.

In addition to providing the budget, cash flow analysis, financial reporting, and tax planning, we assisted management in negotiating leases, bank financing, and the purchase of a building for one of the new locations. The acquisition of this new building and the site evaluation has provided management with a reserve for future cash flow needs as the building has appreciated in value in two years from $2 million dollars to over $3.5 million dollars.

Wholesaler Distribution Services

William Heller Associates was engaged by a forms and marketing company with three employees doing less than $1 million dollars in revenue as its Certified Public Accountant. The company annually has grown at a rate exceeding 10% per annum by expanding its market strategy to encompass additional services to its initial customer base.

We have worked closely with the company in developing an annual budget with monthly reviews. As a result of this structure, the company has now exceeded $4 million dollars in revenue with 28 employees.

The constant monitoring of the actual results against plan has enabled the company to be highly profitable and maintain a substantial cash position and backlog of business. The return on revenue has been generating sufficient cash flow, that management has purchased office space in an office condominium in California to meet its growing space requirements.