Strategic Research • Financial & Investment Analysis • Decision Advisory

Independent analysis for consequential decisions.

Hull Strategy Group combines strategic research, financial and investment analysis, and decision advisory to help executives and investors test assumptions, understand the economics, and determine the path forward.

Challenge assumptions. Clarify decisions. Execute with confidence.

Explore Signature Challenges See Representative Work

Perspective

Independent analytical discipline, shaped in markets and applied beyond them.

Hull Strategy Group’s approach is shaped by founder Nancy Hull’s background across independent equity research, portfolio management, private equity and strategic advisory. That experience reinforced a discipline of starting upstream: develop a view of how the market or business environment may evolve, define the thesis, understand the prevailing consensus, and test it against granular, bottom-up evidence.

The objective is not to be contrarian for its own sake. It is to identify where consensus may be incomplete, assumptions may be wrong or mis-sized, or the evidence points somewhere different—and then connect those differences to economics, value and action.

Today, HSG applies that same discipline to decisions involving growth, markets, performance, capital, acquisitions, business models and AI strategy.

Services

AI changes the mechanics. The advantage moves upstream.

AI can accelerate research, modeling, synthesis and reporting. HSG focuses on the harder work around them: framing the right question, testing the evidence, understanding the economics, exercising judgment and translating analysis into action.

Featured Service

AI Strategy & Value Realization

Deployment is rising faster than measurable business impact.

The problem is often not insufficient AI adoption. It is insufficient analysis upstream—before implementation—about where AI can materially change performance and how that value will be measured.

HSG begins with financial and operating performance, identifies where value is being lost or constrained, and determines where AI can improve revenue, margin, productivity, customer outcomes or decision quality.

Performance diagnostics AI opportunity prioritization Deployment & value roadmaps ROI & value measurement

AI adoption is not the goal. Measurable business performance is.

Strategic Research & Intelligence

What is actually true—and what are we missing?

Develop the view, understand consensus, and test the thesis against granular evidence. HSG combines primary and secondary research to identify what matters, where expectations may be wrong or mis-sized, and what the findings mean for the decision.

Investment research & thesis development
Primary & secondary research / Voice of Customer
Market sizing, competitive intelligence & commercial diligence

Financial & Investment Analysis

What do the economics say—and which drivers actually matter?

Turn financial and operating data into decision intelligence. HSG focuses on the drivers behind performance, rapidly tests scenarios, evaluates value, and modernizes financial analysis for a world in which AI can increasingly automate the mechanics.

Strategic FP&A & performance intelligence
Scenario, decision & financial modeling
Valuation, transaction & investment analysis

Strategy & Decision Advisory

What should we do—and how do we make the case?

Integrate research, economics and strategic judgment into clear choices—and translate those choices into an executive narrative that decision-makers can understand, support and act on.

Strategic alternatives & prioritization
Decision architecture & executive recommendations
Board, investor & stakeholder narratives / execution governance

The HSG Approach

Every consequential decision contains a view about the future—whether it has been articulated or not.

HSG starts upstream. Before analyzing an opportunity, the underlying view, thesis and prevailing consensus must be made explicit. Only then can assumptions be challenged, evidence tested, economics quantified, and a course of action determined.

Define

The view, thesis & consensus

What do we believe about how the market, customer, technology or business environment will evolve? What thesis follows—and what does consensus already assume?

Challenge

The assumptions

What must be true? Where could the logic, timing, magnitude or expectations be wrong—or simply mis-sized?

Research

The evidence

Test the view and thesis against bottom-up primary and secondary research, customer and market intelligence, competitive evidence and operating data.

Model

The economics

Translate critical assumptions into financial and operating scenarios. Identify the variables that materially change the outcome.

Value

The opportunity

Determine what the evidence and economics imply for value, risk, return, strategic attractiveness and the cost of alternative choices.

Determine

The path forward

Integrate the evidence, economics, risks and trade-offs into a clear recommendation—and define what future evidence would cause the conclusion to change.

Contrarian analysis starts with understanding the consensus correctly—not disagreeing with it.

Signature Challenges

Focused engagements for decisions where the assumptions matter.

HSG Signature Challenges apply the firm’s analytical framework to a specific high-stakes question—making the underlying view and assumptions explicit, pressure-testing them against evidence and economics, and determining what should happen next.

01AI

AI Value Challenge

Where should AI be deployed to create measurable business value?

Identify where AI can materially improve performance before committing significant resources. HSG evaluates financial and operating constraints, pressure-tests proposed use cases, and prioritizes opportunities based on expected impact, feasibility, risk and measurable ROI.

Best for: Organizations moving from AI experimentation toward disciplined investment and deployment.

02Capital

Investment Thesis Challenge

Should we commit capital—and what must be true for the thesis to work?

Pressure-test the view, consensus, assumptions and valuation supporting an investment or acquisition. HSG identifies where expectations may be wrong or mis-sized, what evidence could change the thesis, and how alternative outcomes affect value and risk.

Best for: Investors, acquirers and corporate decision-makers evaluating consequential capital commitments.

03Growth

Business Model Challenge

Should we build, launch or scale it—and what needs to be true for it to work?

Turn a promising but often loosely defined business thesis into explicit, testable assumptions. HSG examines customer need, market size, competitive differentiation, go-to-market strategy, business-model economics and capital requirements before significant resources are committed.

Best for: New ventures, product launches, business-model pivots and growth initiatives.

04Value

Exit Value Challenge

What is the business worth—and what would make a buyer value it more?

Assess the business through a prospective buyer’s lens. HSG evaluates indicative value, business quality, growth and margin characteristics, owner dependence, concentration risk and other factors that can support—or suppress—transaction value.

Best for: Owners considering a transaction who want time to improve value and transaction readiness before going to market.

Representative Work

Research and analysis built to drive real decisions.

HSG engagements typically fall into several recurring areas: market and opportunity assessment, financial and performance architecture, acquisition and investment analysis, and growth and capital planning. These examples show how research, modeling, valuation and executive decision support come together around the decision at hand.

Global consumer products manufacturer

Market Opportunity & Strategic Diligence

Conducted structured stakeholder interviews, primary and secondary market research, competitive analysis and market sizing to assess a significant technology opportunity.

Decision impact: Integrated the findings with financial analysis to inform go-to-market and acquisition strategy around an approximately $20B addressable market.

Primary Research • Market Intelligence • Market Sizing • Commercial Diligence

PE-backed healthcare technology company

Financial & Performance Architecture

Built integrated revenue, cost and headcount models and KPI architecture to connect operating decisions with growth, hiring cadence and performance targets.

Decision impact: Strengthened management and board visibility into operating leverage and execution; the work supported a period culminating in a 6× revenue exit.

Strategic FP&A • KPI Architecture • Performance Intelligence • Executive Reporting

Fintech company

Acquisition & Investment Analysis

Developed pro forma and scenario models integrating subscription, transaction and hardware economics for two contemplated acquisitions.

Decision impact: Gave leadership a structured basis for comparing the financial consequences, sensitivities and capital-allocation implications of the alternatives.

Acquisition Analysis • Scenario Modeling • Investment Economics • Capital Allocation

High-growth telemedicine company

Growth & Capital Planning

Built and refined a complex three-statement model incorporating multiple pricing structures, operating assumptions and product economics.

Decision impact: The model was used by the interim CFO in discussions with a PE-backed board to prioritize investment across product lines and track strategic milestones.

Forecasting • Business-Model Analysis • Capital Planning • Board Decision Support

About

Nancy Hull

Founder & Principal

South Florida-based • Serving clients throughout Florida and nationwide

Nancy Hull’s career has moved across competitive intelligence, institutional equity research, portfolio management, private equity and independent strategic advisory—different settings connected by a consistent focus on understanding businesses, testing assumptions, and translating complex evidence into decisions about strategy, performance, capital and value.

Her analytical discipline was shaped in independent institutional equity research, where she led technology coverage and authored 200+ published investment reports, including genuine BUY and SELL recommendations. The work required more than identifying good companies: it meant developing a view, understanding the consensus already reflected in expectations and valuation, conducting granular primary and secondary research, and identifying where actual outcomes might diverge.

That perspective broadened through portfolio management and private equity, where research conclusions became capital-allocation decisions. Her experience also includes senior equity-research leadership, institutional investor relationships, investor roadshows and financial-market commentary, including an appearance on CNBC’s Squawk on the Street.

Today, through Hull Strategy Group, she applies that analytical discipline to a wider range of business questions involving markets, growth, performance, acquisitions, valuation, business models and AI strategy. Her work spans multiple industries, with particular depth in healthcare and technology.

At the center of Nancy’s work is curiosity: understanding how businesses actually work, why people believe what they believe, and where the evidence may point somewhere different. She is most energized by complex questions that require both analytical rigor and judgment—and by translating that work into a clear story decision-makers can act on.

Nancy holds an MBA in Finance and Competitive Strategy from the University of Florida and a BA in Psychology from Emory University.

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Discuss an Engagement

Facing a decision where the assumptions matter?

Tell HSG what you are considering. The first step is a short conversation to understand the decision, the evidence available, and where independent analysis could add value.

Prefer email? nancy@hullstrategygroup.com