Are you in the lucky 16%? Because that’s the percentage of startups that survive and move on to the growth phase. If so, kudos to you because you’ve done some things right! But surviving the Startup Phase is only the first stage in the gauntlet that is business ownership. As your company takes off, you’ll encounter a whole new set of challenges…and opportunities.
In this stage of your business: Your business is consistently generating revenue Cash flow opens new opportunities You’re fine-tuning your business model You’re expanding to new markets/channels
This phase’s challenges include: Dealing with increasing sales Dealing with increasing customers Increasing market competition (pricing, etc) Moving into new markets Effective management Adding new products/services Expanding existing business
Here’s what you need to do / how to navigate through these challenges: Evaluate & address your internal expertise needs Strengthen & leverage client relationships Re-invest in the company, don’t kill the cow
Listen to TurboCharge Your Business on the International Business Growth Network or wherever you get podcasts and gain access to even more great resources at https://turboexecs.com/turbocharge.
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TurboCharge Your Business
TurboCharge Your Business is a show for business owners who are tired of just working IN the nuts and bolts of their businesses and ready to work ON the business itself from a big-picture, growth-oriented, strategic perspective.
This season is called 13 Weeks to Financial Literacy and over the course of the season, your host Patty Lawrence is teaching you everything you need to know to take your business from confused and chaotic to strategically growing with you in the driver’s seat. From people planning to cash flow planning to performance measures and more, it all starts with understanding the story behind your numbers.
Meet Your Host
Patty works with $2M+ professional services and non-profit organizations that struggle to get the timely financial reports they need to function, often because one person holds this information hostage or lacks the skills required to do the work.
Through outsourced accounting and CFO services, Patty and the TurboExecs team reveal the story behind the numbers so leaders confidently can make data-driven decisions that allow them to leap forward, trusting they have the team and finances in place for manageable, profitable growth. As a result, their clients typically increase the bottom line by at least 15% and feel in control of their finances and results.
Patty got her first taste of entrepreneurial life in the office of her father’s well drilling business in her teens. With her first accounting class in high school, she’d found the professional outlet for her problem-solving skills.