Environmental Management Services
Strata Sustainability designs, builds, finances, and operates sustainable waste management solutions.
“I’m so happy I hired The CEO’s Right Hand to help me build and grow my company. I’ve been an entrepreneur for over 20 years, but I’ve never had an organization that’s as professionally run as I do now, especially when it comes to finance, accounting, etc. The CEO’s Right Hand eliminates many of the hassles and distractions of managing a business so I can make confident decisions and focus on pursuing my company’s mission.”
Tim Hodge, CEO and Founder of Strata Sustainability
The Client
Strata Sustainability is a developer of environmentally friendly waste management and resource recovery systems. The company works with municipalities and private businesses to design, build, finance, and operate efficient, green, and cost-effective recovery, reuse, and waste management solutions.
Strata’s CEO and Founder, Tim Hodge, hired The CEO’s Right Hand in 2018 when Strata was launching. As an experienced entrepreneur, Tim knew that his startup company had tremendous potential. He wanted to hire a strategic financial advisor to work by his side as he launched and grew the new business.
The Challenge
The CEO’s Right Hand started working with Strata just after the company landed its first major customer, the largest landfill in the Bahamas. The Bahamian government had hired this customer to take over an “open waste” dump (an area with unsanitary waste management practices), which had become a hazard to the environment and the surrounding community. The goal was to turn the dump into a modern waste management facility focused on diversion, recycling, and reuse, and to convert part of the land into a public park, called the “New Providence Ecological Park” or NPEP. They contracted with Strata, who had done business in the region before and was familiar with the people, culture, and local government, to handle the clean-up and establish a sustainable path forward.
When Strata’s team came in, the dump had a recent history of literally being on fire. They managed an effort to clean up the site and developed plans to create waste management and recycling facilities that adhere to current best practices. Then they built processes, safety procedures, and training modules so they could hire and train local staff to carry out the remaining plans and keep things running smoothly.
The project was a huge success. Strata wanted to leverage this success by replicating what it had done at other such landfills across the Caribbean and by seeking complementary opportunities to use its skills and expertise. But, Tim knew the company needed to put a strong and scalable financial infrastructure in place to manage such growth, so this was the first order of business for The CEO’s Right Hand.
The Solution
The team at The CEO’s Right Hand worked with Strata Sustainability to build the desired financial operations. First, they set up an accounting and bookkeeping system and established a routine of monthly reporting. They also developed financial forecasts, cash flow forecasts, and a KPI dashboard, then helped management develop a monthly rhythm of updating and analyzing this information for use in decision-making. Finally, they put an advisory board in place and worked with the organization to develop compensation plans before hiring a bookkeeper and a CFO to take over the day-to-day.
Meanwhile, Strata had found a new opportunity among the resorts in the Caribbean. They had learned that the resorts produced an enormous amount of waste and were contributing to the region’s “open waste” problem. They wanted to develop systems to minimize such waste by sorting it and breaking it down into finer materials that they could repurpose or transport to recycling facilities. They also wanted to build closed, circular systems so resorts could reclaim water and compost food waste for use in landscaping. To support this side of their business, they decided to launch a new business unit called ResortCo.
The CEO’s Right Hand helped Strata determine the appropriate capital structure for ResortCo. Then it worked with them to allocate funds and develop a proper financial infrastructure (complete with budgeting processes, cash projections, reporting, etc.) that could tie into the overall business. Then it worked with the sales team to develop complex, yet transparent and digestible, ROI models to articulate the business value of investing in waste management solutions to resort executives.
And this was just the start . . . .
The Results
Strata Sustainability continues to pursue and develop new opportunities within the Caribbean Islands, and The CEO’s Right Hand remains by the company’s side. It carries on the work of building the financial foundation the organization needs to run its business so its leaders can focus on their important environmental endeavors.
When the company’s leaders must navigate a complex financial challenge, such as the launch of additional business units, tax compliance issues, or a capital raise, The CEO’s Right Hand guides them through the process. The company has been profitable and has reinvested those profits back into the business. It has built a thriving organization that is poised for exponential growth.
