Preparing Your Business for Growth Capital | Part Two This is the second article in a series about preparing a growing business to secure and use outside financing responsibly. You have brought your financial reporting up to date. You understand the numbers that drive the business. You have begun forecasting cash, identified the approaching capital need, and determined what the investment should accomplish. Now you are ready to pursue financing. That does not mean completing

This is the first article in a series about preparing a growing business to secure and use outside financing responsibly. A growing business will eventually need more money than the owner can provide personally. You may need to purchase equipment, add employees, carry more inventory, move into a larger building, open another location, or finance the time between delivering the work and getting paid. Growth requires resources. Resources require money. But the worst time to beg

How clear standards help organizations remain consistent when everything else is changing. Finding employees. Rising costs. Inflation. Supply chain issues. Technology changes. Changing customer expectations. For many businesses, simply keeping up has required more attention than ever before. As a result, many have taken their eyes off the very things that earned their customers' trust in the first place. Customer service has suffered. Product quality has become inconsistent.

Business owners, we need to have an honest conversation. Customer experience has declined. Not everywhere. Not in every business. But enough that customers notice it almost every day. Longer waits. Less personal attention. Employees who seem overwhelmed. Businesses that feel ordinary instead of memorable. The research helps explain why we got here. Labor shortages, burnout, turnover, rising costs, automation, and years spent simply trying to survive have taken their toll. Non

Sales are up. New customers are coming in. You're hiring people. Maybe you've added equipment, moved into a larger space, or you're thinking about opening another location. From the outside, it looks like success. But many Main Street business owners discover something unexpected. The same business that got them here isn't always the business that will take them to the next level. Growth creates new demands. The owner who once made every decision now needs leaders they can tr

Most business owners begin by doing the work. The businesses that continue to grow are usually led by owners who learn two additional skills: managing the work and leading the business.

How open loops drain attention, focus, and clarity. A few weeks ago, I found myself feeling unusually distracted. I would sit down to work and my mind would drift. I'd start one thing and think about another. The workload wasn't any heavier than usual. Nothing major was wrong. Yet it felt like my attention was being pulled in ten different directions. Then I was reminded of a concept from David Allen's book Getting Things Done. He calls them "open loops." An open loop is anyt

Why hard work alone doesn't always produce growth. If you're feeling stuck in your business right now, the answer may not be more effort. In fact, it may not be a lack of effort at all. Many of the business owners I meet are working incredibly hard. They're putting in long hours. They're carrying a tremendous amount of responsibility. They're trying to move the business forward. Yet they still feel stuck. Over the years, I've noticed that when a business isn't making the pro