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Keys to Business Success

November 09, 2017

Successful business owners never have enough time in each day to accomplish everything on their to-do list.  Taking time away to improve management skills and understand business finance is a rare opportunity – one that participants in our recent seminar with noted business expert, Kyle Enger, found worthwhile.
 
Today, we’re sharing just a few of the seminar’s Top Takeaways:
 
  • Communicate with your controller or CPA – You are paying for their service; ask questions and listen to their advice. Initiate deeper conversations if you don’t understand.This is an opportunity to get the “why” behind their work. Go beyond simply sharing financial statements and tax documents for real value.

  • Don’t “grow yourself broke” – The instant success of a business owner’s dreams can result in big gaps in product/service delivery or cash flow. Managed growth requires patience, but is more sustainable in the long term.

  • Only stock what you can sell soon – Closely manage inventory to keep your business nimble as trends change.It’s easy to let pride of product leave you with more in storage than will sell. This ties up valuable funds your business could use elsewhere.

Enger’s book “Exit: Prepare Your Company for Sale and Maximize Value” is an Amazon Best Seller. For more information, visit www.kyleenger.com
 
If you would like to be notified about future learning opportunities, please contact Sam Gilmer
 

Posted in: business