Tag: buyer
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Look Closely at Your Company’s Concentration Risks
The word “concentration” is usually associated with a strong ability to pay attention. Business owners are urged to concentrate when attempting to resolve the many challenges facing them. But the word has an alternate meaning in a business context as well — and a distinctly negative one at that. Common problem A common problem among…
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Six Ways to Ensure Your Marketing Plan Drives Sales
“Love and marriage,” goes the old song: “…You can’t have one without the other.” This also holds true for sales and marketing. Even the best of sales staffs will struggle if not supported by a well-researched and carefully executed marketing plan. Here are six ways to ensure your marketing plan is likely to drive strong…
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How to Research a Business Customer’s Creditworthiness
Extending credit to business customers can be an effective way to build goodwill and nurture long-term buyers. But if you extend customer credit, it also brings sizable financial risk to your business, as cash flow could grind to a halt if these customers don’t make their payments. Even worse, they could declare bankruptcy and bow…
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Following the ABCs of Customer Assessment
When a business is launched, its owners typically welcome every customer through the door with a sigh of relief. But after the company has established itself, those same owners might start looking at their buying constituency a little more critically. If your business has reached this point, regularly assessing your customer base is indeed an…
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Could a Long-Term Deal Ease Your Succession Planning Woes?
Some business owners — particularly those who founded their companies — may find it hard to give up control to successors. Maybe you just can’t identify the right person internally to fill your shoes. While retirement isn’t in your immediate future, you know you must eventually step down. One potential solution is to find an…