SVA's Business Growth Strategies Expertise Benefits Magellan
Magellan Promotions has been helping businesses navigate through a sea of promotional products since 2005. They offer expertise in the collegiate market to help schools connect with their students. When Michael Wolaver, captain of the company, met SVA at local networking events, he immediately knew there was something missing in his current accountant relationship. “When I met SVA and heard their consultative approach to helping their clients with business growth strategies, I knew I wanted to work with SVA,” says Michael. “They offer a different level of knowledge than I was receiving with my current accounting firm.”
Over the years SVA has helped Michael purchase two different businesses as well as the tax planning and deal structuring to purchase Magellan Promotion’s current location. “SVA helped me through the process of buying our current building. My wife and I sold an income property and used that to purchase the building and build it out to fit our needs. It was a complicated transaction made easy with the assistance of SVA,” says Michael.
Michael’s goal is to grow strategically and analyze new ideas to scale up the business. “My SVA advisor suggested I create an advisory board that meets monthly. Together, we determined who should be on the board and what the scope of the advisory board responsibilities should be.” The advisory board has proven to be a successful way for Michael to discuss his ideas for growth, as well as gain insights from successful business leaders.
SVA introduced Michael and his team to a strategic planning system that helps him plan out the business goals for the next three years. Working with SVA, Michael continually reviews the operational and financial aspects of the business and relies on the way SVA understands his business needs.
When asked why he recommends SVA to his peers, he says, “SVA has truly been a partner for us. They challenge us to grow this business each year and develop a strategic plan to guide us into the future.”