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Fred Lilley,
​Managing Partner
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​Meet Fred

"I see every client as an economic hero." 
"Each has grown a company from start-up. Now they’re figuring out what comes next. They’re wrestling with issues like cash flow, mergers and acquisitions, having the right leaders, and pricing. And they’ve got other people to think about—employees, investors, spouses and families. It can get confusing quick.

That’s where we come in. We’ve helped companies navigate these waters before. We’re not consultants who just point out what’s not working and tell you what needs to change. We help you fill the gaps in knowhow and skills while we work with you to map out the future you want. When an owner feels clear and confident about the business, the impact ripples out across work and personal relationships. We hear from many key employees, and many spouses, how thankful they are that we work with their companies.

Even though people hire us for guidance and advice, the best gift we can give a client is to listen and understand before trying to solve problems.  Sometimes, a client just needs someone to validate their thinking. If they’re already on the right path, we’ll tell them so and offer whatever insights we can."

​CREDENTIALS                    

Founder and Managing Partner, Business Lab 
  • Advisory Board Member for several second stage businesses
  • Raised over $200 million in equity and debt financing for client companies
  • Increased profitability and free cash flow by more than twice the industry average for client companies over the last ten years
  • Retained by dynamic second stage companies to enhance their leadership capabilities and represent owners in key transitions and transactions
​Business Optimization and Transaction Facilitator, The van Summern Group Inc., Stamford, Connecticut
  • Orchestrated a business turnaround by identifying profit opportunities, aggressively collecting accounts receivable, negotiating with vendors, collaborated with project leaders to provide key information and ensure job profitability, and generating higher cash flow to fund operations.
  • Successfully negotiated a transaction merging van Summern into Perkins Eastman
 Business segment integration, Perkins Eastman Architects in New York City
  • Oversaw an orderly integration of financial systems and operations
 Former treasurer. Gulf Breeze, Florida Chamber of Commerce ​

Tricia Thompson
Client Engagement Manager
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Meet Tricia

“Everyone wants their company to succeed."
"The people I work with have an incredible work ethic. But in companies of this size, the accounting staff has no one to turn to for answers. The owner just wants to see the numbers and the CPA only talks tax consequences. Yet if the accountants can learn to see the big picture, they can move beyond recordkeeping to offer insights that help guide the business.

​We  get them doing that in just a few months. Once we know the basics are solid and we’re working with accurate financial data, we mentor and train the accounting staff into a new mindset. Soon they’re working cross-functionally with other departments like operations, sales and marketing and continually asking themselves, 'What can we do with this information so management can make better decisions?'
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This can make a huge difference to the overall business, with a direct impact on profits and margins. Everything improves—from pricing strategies and operations to cash flow to expansion strategies.  One of the best parts of my job is helping the accounting staff gain the credibility and confidence to make important contributions to the owner’s business decisions, and to see the owner realize that value."

CREDENTIALS              

Client Engagement Manager / Contract Controller, Business Lab
  • Build financial models to provide forward looking guidance and identify new profit opportunities and cash flow improvements
  • Prepare financial performance reviews for clients and key stakeholders
  • Improve or optimize pricing and cost structure by segment, product/service line
  • Provide leadership and guidance to the accounting department manager and staff
 Sole Proprietor, Tricia Thompson-Accounting & Tax Preparation - Durham, NC
  • Prepared an average of 250 annual federal and state tax returns, assisted in tax issue resolution
  • Assisted clients in implementation of accounting software
  • Performed monthly/annual closing procedures and provided timely financial reports
  • Processed payroll/payroll tax reporting for clients in construction, restaurant and professional services.
​Payroll Tax Accountant, Burroughs Wellcome Company – Research Triangle Park, NC

•    Member, Institute of Management Accountants
•    Member, North Carolina Association of CPAs
•    Registered Paid Tax Preparer
•    B.A. Accounting, North Carolina State University