Steven C. Wyer has ridden out many economic storms over thirty five years of business. As the owner of several successful businesses, Steven C. Wyer has worked with banks, clients and independent contractors to navigate credit lines, debt to income ratios and account receivables. Steven C. Wyer began his professional career working for CNA Insurance. As he expanded his underwriters for estate planning insurance products, Steven C. Wyer built a successful General Agency by aggressively managing growth and matching it with agency receivables.
Steven C. Wyer took this early experience and applied the same disciplines later when he started Wyer Creative Communications. Initially, Steven C. Wyer allowed the firm to establish itself through self funded liquidity. Growth demanded more flexibility and after considering options, Steven C. Wyer selected a working relationship with SunTrust Capital based in Atlanta, Georgia. Steven C. Wyer initially worked through local channels however as growth increased, Steven C. Wyer had account services transferred to Atlanta. Steven C. Wyer negotiated a mezzanine debt structure utilizing subordinated debt instruments coupled with a flexible working line of credit. This allowed Steven C. Wyer to access growth capital as the business expanded.
Steven C. Wyer again utilized these same approaches as the founder of a private firm focused on acquisition of delinquent consumer debt. By negotiating performance based contracts with vendors, Steven C. Wyer no longer required working lines of credit for growth. Vendor compensation was addressed based on performance only fees. Steven C. Wyer managed fourteen such vendors as the business grew. Steven C. Wyer did not utilize leverage to fund the business. By managing receivables and overhead the business grew without the burden of debt.
His latest venture, Reputation Advocate; founded in 2006, has again harnessed the discipline of cash flow management. As a flatter and more nimble organization, Steven C. Wyer acts as Managing Director for the firm. Steven C. Wyer relies on the skill of partners in managing receivables and payables. While this methodology has limited growth to some degree, the more tenuous nature of the current economy demands a different approach to funding.
Steven C. Wyer views growth differently in the current economy. Bigger is not better, it is simply bigger. Size does not equate to profitability and Steven C. Wyer knows this well. Living in a high growth industry on a cash flow basis may require the loss of some business opportunities however Steven C. Wyer stays the course between liquidity, growth and discipline.