When it's time to expand your small business, you need a solid financial strategy based on what your immediate and longer-term goals are. Understanding those goals and how urgently you need the money to achieve them will help you determine how to get the financing you need.
We all know the standard tools that make a business run like it should. An accountant and bookkeeping system, inventory or project management software along with phones and computers to get things done.
However, there are a few lesser known types of tools that, when implemented, can make a major impact on your business and its bottom line.
I had the privilege of attending the American Express OPEN for Women: CEO BootCamp, an all-day event where women business leaders including Tory Burch, Angie Hicks, Robin Chase, Jean Chatzky and Melinda Emerson provided insight, advice, inspiration and lessons on becoming successful women business owners.
Here’s proof to the adage “When one door closes another door opens.” Meridith Baer’s career as a screenwriter was drying up. At the same time, Baer found herself kicked out of her home. She had done such as good job fixing up her rental, her landlord realized he could sell it for a handsome profit, which he did.
Have you ever bought a new gadget or toy for your kids or yourself and seen that mildly annoying “batteries not included” sticker?
Getting the right batteries for your new gizmo is similar to finding the rightmotivation for youremployees. The end goal is the same: energy for action, but you need the right connection to trigger that flow of energy.
Companies backed by private equity are supposed to grow, to increase in value, and to do so quickly. They must be primed to implement strategy, manage costs, boost revenue, and ultimately provide the best enterprise value for owners. Everything is about improving strategy and operations to maximize the return on investment.
In a corporate world where change is the only certainty, here’s a fact about these companies: the most successful adapt fast and flexibly. Here’s another fact. While most of these companies believe they’re sufficiently flexible and adaptable, many are not.
