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Leaving your company in good shape for a successor
I recall a recent piece I read in the Harvard Management Update. The report stated that 172 corporate Vice Presidents perished in one day when the twin towers came down on Sept. 11, 2001. (1) This tragic event drove home to many CEOs and business owners that life is precious and that it is short. We can be here today and gone in a heartbeat.
It also made me think, that to the many business owners I work with , is the company that you run or own prepared for your sudden departure and if not, why not? Is there an exit strategy or succession plan in place?
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Managing cash flow in today's business environment
Cash flow. It's a topic and a concern of most business owners. Especially today, with margin pressure, inflation and simply the cost of doing business has escalated.
Whether your business is growing or struggling, managing your cash flow can be the key to business survival. Working with privately held business, here several proactive steps to help businesses monitor cash flow and fix shortages before they cripple the business.
And for these reasons and more, strategic business advisors are focusing now on one major goal: optimizing cash flow.
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