Rapid Growth and Strategic Success
Mills Entertainment
From Outsourced Accountant to Big Picture CFO
Mills Entertainment produces, promotes, and manages world-class live entertainment productions in venues across 13 different countries. Since 2001, it’s grown from an unknown small talent promoter to the #1 international producer and promoter of alternate and branded live entertainment with a roster of stars like Theresa Caputo, Cesar Milan, and Mel Brookes and household brands such as Clifford the Big Red Dog and Daniel the Tiger.
Evolving from Small-Shop to CEO
In 2001, Mike Mills was a one-man manager with a few employees finding gigs in small town theaters. But, his passion for his work and reputation for understanding niche venues spread and soon he was being engaged by dozens of artists to manage their acts in theaters all around the country. By 2010, Mills had his hands full with a rapidly growing and ever-changing company. Reinhart was there from the start, scaling our services to be relevant to each stage of growth the company went through. Reinhart began its partnership with Mills Entertainment by covering the basic nuts and bolts needs the business needed to be ready for growth:
- Weekly in-house bookkeeping
- Making deposits and sending and processing invoices
- Credit card reconciliation
- Reviewing and reporting monthly financial results
Proactively, Intelligently Scaling Services for Growth
Rapid growth of this kind automatically strains all of a business’s resources and capabilities. Processes and people became Mike Mills’ focus as business skyrocketed. Reinhart not only scaled the amount of time spent on bookkeeping but essentially became a member of upper management, driving change in critical operating issues and the financial management of the company. Reinhart proposed new solutions annually and at times semi-annually to quarterback important changes as the business came to fruition:
- Build from the ground up and implement completely new accounting systems and policies appropriate with the size of the company
- Propose new business entities and a consolidated structure for legal protection and appropriate accounting and business units
- Work closely with Mike Mills as a valued member of upper management in approaching growth in a financially smart and responsible way
- Expand to a whole new host of services from multi-state and international compliance to new operational policies and strategic direction
- Work with Mike Mills on strategic opportunities and objectives
“As the business has changed and the complexity grown, Reinhart has stayed in step with us and their direction and presence has been integral in Mills’ development as a national brand.”
Harvesting Business Strategy and Vision
In 2014, all of the growth and work paid off. Large international businesses were looking to partner with Mills Entertainment. Reinhart implemented a plan to identify and evaluate each strategic business opportunity by:
- Identifying, researching, and vetting opportunities for strategic financial alliances within the industry
- Preparing financial packages that represented the business’ current status and future potential
- Representing Mills Entertainment in negotiations and strategic discussions
- Performing due diligence on presented opportunities
- Reviewing and providing counsel on the legal process and deal structure
- Driving the process from start to finish insuring the initial objectives were always forefront in every step or decision made
Mills Entertainment Today
Integrated and Essential Accounting Function and Strategic Advisor
Since its initial engagement, Reinhart has adapted its services to support Mills Entertainment as it grew, expanded, and added increased complexity to its financial profile. From weekly bookkeeping to CFO and controller-level support, Reinhart is now listed on the Mills org chart as an outsourced accounting department. With the support of the Reinhart team, Mike Mills has:
- Turned the risky and ever-challenging issue of rapid growth into an advantage by quickly adapting and looking beyond the challenges of today
- Seamlessly built from the ground up and integrated an accounting department that is a key player in the management of the company
- Carefully and intelligently took industry opportunities to partners and turned them into the future of the Mills
- Created a long-term financial vision that integrates with his personal vision and goals
- Experienced the benefits of a CFO, controller, tax manager, staff accountant, and more through bundled services at Reinhart