Back to the Future

The rocky economy of the past several years has shifted the focus of most businesses from growth to survival.  For mid-sized privately held companies, it has been the primary focus.  Where the next sale is coming from?  How to keep expenses low and the headcount lean to weather the downturn?  For a while it looked like the end would never be in sight.  Most business owners were expending most of their energy managing the business from month to month.

We believe it’s time to shift the focus to the future again.  As the economy begins to recover, it’s extremely important for owners to get plugged back into the future of their businesses.  Survival has been a worthy and important goal, but to sustain it, there must be current and relevant goals and objectives to move forward.  The business behaviors demanded by a down economy will restrain growth in an upturn, artificially depressing your company’s recovery.

During the workday, so many issues compete for your time and attention.  But it’s often said that Sundays are the most difficult day of the week for the owner of a business.  Why?  Because of the one-two punch of worries about the upcoming week, coupled with the difficult questions that never seem to be fully answered:

• What developments are occurring in my market and industry that will impact my business in the next few years?
• What are my competitors doing about them, and how will that affect me?
• Will my products and services be sufficient to grow market share?
• What about my management team – do they have what it takes for tomorrow?

No one can plan the future alone.  For privately held businesses, the issues of estate planning, succession and inheritances rival the imperatives of growth, expansion, and sustainability.  You need to plan for the future now so that there is a future by engaging in Strategic Planning.  It is beneficial to consult with advisors who have dealt with similar issues and successfully weathered similar storms.  Talk to us at RossFialkow Capital Partners.  We have been CEOs and business owners, and we will share our real-world insight and experience to help guide you to a self-determined future. 

By Jeffrey Ross and Jay L. Fialkow

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