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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 important strategic planning activity. One…Read More -
4 Pillars of a Solid Sales Process
Is your sales process getting off-balance? Sometimes it can be hard to tell. Fluctuations in the economy, changes in customer interest and dips in demand may cause slowdowns that are beyond your control. But if the numbers keep dropping a nd you’re not sure why, you may need to double-check the structural soundness of how you sell your company’s products…Read More -
Dig Out Your Business Plan to Plan for the Year Ahead
Like many business owners, you probably created a business plan when you launched your company. But, as is also often the case, you may not have looked at it much since then. Now that fall has arrived and year end is coming soon, why not dig it out? Reviewing and revising a business plan can be a great way…Read More -
Understanding Your Cash Position
Understanding your business’s cash flow is essential to making sound financial decisions. Cash flow can be difficult to forecast in businesses with many segments, differing products and services, and various geographies. Also, a business can be profitable but still run into cash flow difficulties with the timing of cash receipts versus payroll, vendor, and loan payments. To understand your cash…Read More -
Are You Ready to Expand to a Second Location?
Most business owners want to grow their companies. And one surefire sign of growth is when ownership believes the company can expand its operations to a second location. If your business has reached this point, or is nearing it, both congratulations and caution are in order. You’ve clearly done a great job with growth, but that doesn’t necessarily mean you’re…Read More -
CASE STUDY: Fahrenheit Negotiates Sale of Tribble Electric
On July 31, 2018, Steve Tribble completed the sale of Tribble Electric to a private investor. Terms of the transaction were not disclosed.
Jonathan Brabrand, Managing Director at Fahrenheit Capital Partners, represented Tribble Electric in the sale.
Steve Tribble founded Tribble Electric in 1983 and as CEO led the company to become a premier full-service electrical contractor in the Richmond…Read More -
Company Value Proposition – It’s Not About You
Just about every company has a value proposition, and most believe it’s compelling. Unfortunately, some companies discover that while the value prop makes perfect sense to those within the organization, it doesn’t seem to resonate with the market. I find that many value propositions are inwardly focused, and that’s a problem. They tend to answer: What are we best…Read More -
Business Tips for Back-to-School Time
Late summer and early fall, when so many families have members returning to educational facilities of all shapes and sizes, is also a good time for businesses to creatively step up their business development efforts, whether it’s launching new marketing initiatives, developing future employees or simply generating goodwill in the community. Here are a few examples that might inspire you.…Read More -
6 Ways to Get More Value From An IT Consultant
IT consultants are many things — experts in their field, champions of the workaround and, generally, the “people persons” of the tech field. But they’re not magicians who, with the wave of a smartphone, can solve any dilemma you throw at them. Here are six ways to get more value from your company’s next IT consulting relationship: 1. Spell out…Read More -
Association Health Plans Get a Shot in the Arm
On June 19, 2018, the Department of Labor issued its “Final Rule” modifying the operation of Association Health Plans (AHP). The primary purpose of the new rules is to make it easier for smaller, unrelated employers to band together and enjoy some of the benefits that larger employers do. As with any new government initiatives, there will be additional regulations issued…Read More -
Get SMART When It Comes to Setting Strategic Goals
Strategic planning is key to ensuring every company’s long-term viability, and goal setting is an indispensable step toward fulfilling those plans. Unfortunately, businesses often don’t accomplish their overall strategic plans because they’re unable to fully reach the various goals necessary to get there. If this scenario sounds all too familiar, trace your goals back to their origin. Those that are…Read More