If you could increase your income, would it solve a lot of problems? Focusing solely on income is a trap and could put your business at risk. It’s not what you make, it’s what you keep. - Joe Connors, Vice President Relationship Banking Officer
Good news, business owners: it’s turning into a sellers’ market. A confluence of factors— the post pandemic economic recovery has started, stock prices have been rising, interest rates remain low,, and the long-term investor portfolio shift to business acquisitions—has created a perfect storm, but instead of getting battered by the waves, as in years past, this front can steer owners towards a profitable exit strategy. How can you capitalize on this opportunity?
But First…There’s a Catch or Two
People who are highly sensitive to the lack of flexibility of traditional budgeting often see rolling forecasts as the answer. If we update our view of the future more frequently and don’t confine it to the financial year it is obvious that this will be more useful than traditional annual budgets based on the financial year.
So, you might think, forecasts are like budgets but done more frequently – right?
Moving into a leadership position changes your professional priorities. Success is no longer about your accomplishments; instead, you must create the kind of environment where others can achieve their success. Here are four traits that successful leaders share.
Enjoy this series of shorts on Cash and Bankers from Jim.
When the wind is blowing 30 miles per hour, windsurfers don’t stay home; they bring smaller boards and sails so that they can sail. That’s risk mitigation at its simplest. It’s easier to mitigate risk when someone else has figured it out. When they haven’t, the prize goes to those who can venture boldly and mitigate their risk at the same time.
