Balance sheet – How can I improve my company’s financial condition?
Posted on June 21, 2013 by Shane Campbell
There are only three ways to improve your financial condition.
The first is to take money out of your personal savings and deposit it into your business account. If you are asking this question, you’ve probably already done that several times.
The second way is to take money from a new business partner including friends, family, an angel investor, a venture capitalist, etc. Some of the world’ biggest companies have flourished from such a relationship, but many, many more have cursed the day that they entered into such a relationship and thereby gave away control/direction of their company.
The third alternative is to make your company profitable, and then leave much of those profits in the bank.. This “organic” improvement to your balance sheet normally takes longer, but allows a business owner to continue running the company on his/her terms. It also forces one to run the business better. Better is good…
Contact one of our B2B CFO® Professionals to gain insight in to your company’s balance sheet!
