Stop reacting in your business. Declare that money leaks are no longer acceptable and get off the feast-or-famine roller coaster by taking action now.
“Many business owners want to skip the necessary foundational steps to get to the thrill of the flight, only to crash in the process.”
You’re smart. You set your sights on being in the top percentiles of all small business owners (the ones who actually make it). As a result, you’ve decided to grow as quickly as you can. On your growth journey, you’re acquiring clients, investing in equipment and technology, and building your team, but something insidious is happening behind the scenes.
You’ve completed your largest project yet, and the client’s payment hit your bank account. You log-in to mobile banking and stare at the screen. There is no money. Your heart sinks.
This was unexpected. Growing your business is growing you out of business—you are temporarily broke! Read more.
After all these years, we haven’t found a way to engineer a better way to start up. Startups are burdened with pitfalls: a lack of customers, a lack of capital, and a lack of cash flow. Meanwhile, though old-economy businesses hold mature infrastructure, they have the things that today’s entrepreneurs struggle most to build from scratch. By buying an existing small business and building upon it, entrepreneurs get instant access to everything they need to be successful. From there, they can mold their companies to fit their style. It’s a smarter way to start.
Further, the capital to buy an existing company is so much easier to come by because activity is booming. According to a Deloitte survey, almost a third of corporate and private equity respondents predict a jump in mergers and acquisitions, up from about a quarter last year. Buying an existing company is like buying a home, with banks standing by ready to help. But unlike buying a home, an acquired business pays off the loan with its cash flow, making it an ideal platform to build from. Read more.