You can do a lot, but you can’t do it all or hire all the people you need at critical times in your development. It’s that plain and simple. Do I need, can I afford and should I bring on outsiders to assist?
It always seems like you need another (or two or three) pair of hands as you grow. Question is who? When? How many and can I afford them?
What’s a ‘dashboard’ and why do I need one?? Simple question. Not so simple answer. Every business is different and internal reporting showing where you are and where you’d like to be is somewhat individualistic.
This sounds simple of course, but you’d be surprised how difficult it is while doing so many different tasks to track the actual costs and profits of the business.
One of the key pillars for any business is to reduce your vision to a crisp, yet flexible plan accompanied by a financial model incorporating capital needs, customer development and maintenance and development of key personnel.
The new administration has ushered back in a new role of government involvement in business not seen in fifty years. How do government regulations permeate different aspects of your business and industry? Tax changes? Competitive changes?
Developing new clients and orders; serving existing clients; handling finance and personnel, if you are like most growing business owners there seems to be a “to do” list that doesn’t have an end.
Everyone dreams of the big order, but that big order may come attached with parameters and constraints such as limited visibility, complex supply chain and delivery issues, and a big brother.
You’ve got some established client relationships. In trying to grow your business, should you spend your time enhancing your relationship with those customers or should you spend your resources on new customer cultivation.
When institutional investors aren’t interested, where can small or medium-sized businesses turn for capital to fuel growth? You’ve likely heard of convertible debt, merchant credit advances, and crowdfunding, but are any of those the best option for your company? Here’s a primer on the capital structure and what types of financing make sense at differing stages of corporate development.