The Increased Need for Advisory Boards
The use of social media and a digital strategy has never been more critical to businesses than it is today during this Covid crisis. Having a digital strategy ensures that we can continue to communicate with our customers, our employees, our suppliers and our stakeholders. While digital strategies may have been a ‘nice to have’ pre-Covid, it has become a ‘need to have’ since the Covid crisis hit.
Don’t Stick Your Head in Sand: Grow Your Business in a COVID World
A crisis is always a turning point in any business. Throw in a worldwide pandemic that puts all companies into crisis mode (in one form or another) and you have the makings for a paradigm shift that will leave some business in a better position and others closing the doors.
Building a Resilient Organization
Sometimes you have to take a step back to move forward. In any business context, it is so easy to get absorbed in immediate project deadlines or the crisis of the day that we lose focus on the reason why we’re doing what we do, and that brings with it the risk of losing sight of the forest for the trees.
Never Waste a Good Crisis – The Time for a Digital Strategy is Now
For over ten years, large and small businesses alike have been talking about the importance of Digital Strategy. Those that have invested in digital solutions have reaped the rewards during the COVID-19 pandemic. Yet many organizations still struggle with developing and executing a sustainable digital strategy in an ever-changing landscape.
It’s time for Small Business to Embrace Digital
Small business is the backbone of the U.S. economy and the driving force behind economic growth in our region. Thus, to say we are dependent on the success of small business is an understatement. They are our favorite restaurants and coffee shops, where we go for local services, and are run by our friends and neighbors. In short, they are at the foundation of our community.
Funding & Exits: Best Practices for High-Growth Companies
Funding and exit strategies are critical to high-growth companies planning to sell (or potentially sell), even if a sale is still years down the road. It allows stakeholders to exit on their own terms, for top value. But readying a company for funding and exit is sometimes seen as an expensive burden. As such, businesses go about it as if it’s a separate exercise, apart from day-to-day business – and/or wait too long to go about it at all.
3 Habits To Break Before Selling Your Business
As an advisor for companies in the $5 to $20 million range, I work with business owners at various stages of exit strategy planning. Given their companies’ revenue, these leaders generally anticipate financially rewarding exits within desired timelines. This is the plan, but it doesn’t always work out according to plan.
Loan Forgiveness Under Paycheck Protection Program and the Consolidated Appropriations Act, 2021
The Paycheck Protection Program (“PPP”), created as part of the Coronavirus Aid, Relief, and Economic Security (“CARES Act”), authorized loans to certain businesses affected by the COVID-19 pandemic. If businesses use their PPP loans to pay qualified business expenses, the entire loan may be forgiven.