When the Numbers
Identify the Problem
But the Fix Is Operational
Accountants and advisers see it clearly in the financials. EBITDA that should be higher. Cash that doesn't match the profit. Margins drifting without a clear cause. The work of fixing it requires something different.
Financial clarity without operational execution: identifying the problem is not the same as fixing it.
Accountants and advisers are exceptionally good at identifying what is wrong. The numbers tell the story clearly — EBITDA erosion, working capital blowout, margin drift, overhead creep. The diagnosis is rarely the problem.
The problem is that fixing it requires embedding inside the business and changing how it operates. Pricing structure. Debtor management. Management cadence. Commercial discipline. These are operational problems that require operational execution — not additional reporting or analysis.
ShapeExec is the operational translation layer: taking what the numbers identify and executing the commercial and structural changes needed to actually improve them.
EBITDA Below Expectations
Revenue is there. Costs appear reasonable. But EBITDA is consistently below where the business should be given its revenue base and market position. The gap is usually in pricing governance, cost structure or execution consistency.
Cash Doesn't Match Profit
The business is profitable on paper but cash is consistently under pressure. The gap between cash flow and EBITDA is structural — working capital tied up in slow debtors, excess inventory or weak creditor terms. Addressable, but operationally.
Pre-Sale EBITDA Defensibility
The client wants to go to market in 12–24 months. The normalised EBITDA is hard to defend. The add-backs are there, but the operational evidence isn't yet. The sell-side readiness work — operational, not just financial — hasn't started yet.
Founder Dependency Risk
The business runs through the founder. Customers, relationships, decisions. The adviser can see it clearly in the risk profile. Reducing founder dependency requires building operating systems and management depth — not financial restructuring.
"The best referral relationships I have are with advisers who know exactly what they are looking at — and who understand that the operational fix requires someone with different access and accountability than an advisory relationship provides."Scott Foster — Operator, ShapeExec
Adviser-aligned. Not competitive.
ShapeExec works inside the business at the operational level. The adviser relationship — accounting, financial advisory, tax, valuations — is not affected. We do not cross into financial advisory. We do not reposition ourselves as the primary adviser. The referral relationship is protected and the client outcome improves.
Confidential Referral Discussion
The conversation starts with the adviser — not the client. We understand the situation, the sensitivity and what you need from the engagement before any client interaction.
Scoped Operational Brief
The engagement is scoped around the specific operational problems the adviser has identified — EBITDA gap, working capital, management depth, pre-sale preparation. Not an open-ended advisory relationship.
Embedded Execution
We work inside the business. Commercial systems, pricing governance, working capital improvement, management cadence. The outcomes are measurable. The adviser relationship stays intact.
What the operational engagement typically covers.
Commercial Performance
- Pricing governance and margin improvement
- EBITDA quality and defensibility
- Customer profitability and revenue quality
- Cost structure and overhead management
Operational Systems
- Working capital and cash conversion
- Management depth and capability
- Founder dependency reduction
- Pre-sale operational preparation
Relevant Diagnostics
Discuss A Client Situation
Confidentially
Most conversations start with a simple question: are the operational issues we are seeing fixable, and what would the work look like? That conversation is confidential and carries no obligation.