Many business owner/operators make the decision to sell their companies and enjoy a well-earned retirement, so how come so many end up staying intimately involved under new ownership? The answer lies in where their priorities lay.
Family office investment preferences can be as varied as the families doing the investing, but that doesn’t mean there aren’t common themes each may look for that provide perspective for small and medium-sized businesses that may be in need of capital.
While you no doubt know your business inside and out, the most successful executives are ones that can effectively share their vision, strategies, needs, and expectations with a wide variety of audiences. Whether internal or external, current and potential stakeholders require clear, concise, and nuanced communications from your company’s senior leadership.
One of the most important decisions executives must make relates to the company’s information technology function and who is responsible for maintaining internal systems. Whether outsourced, in-house, or a combination of both, the key is to get the service you need when you need it.
The lack of access to capital is a main reason businesses stumble and sometimes fail. Crowdfunding is one of the newer soltions to this age-old problem, but determining whether it’s the right choice for your company is something that requires careful consideration.
It’s been said that you aren’t really a business owner until you’ve spent a sleepless night wondering how you’ll be able to meet payroll. While few are exempt from that worry on at least a few occasions, it’s important to understand when a short-term fix could lead to a long-term problem.