Is A Business Advisor The Magic Bullet To Monetizing Assets And Originating Loans For Companies In C
Business Advisor needs? That is the question faced by many business owners in Canada, as well as financial managers when it comes to financing their business through loans, asset monetization, and other strategies.
Although we say it somewhat tongue in cheek, the reality is that if you had all the financing you need you certainly would have it in place already, without any help from an ' expert '. What then is the role, value and cost of advice when it comes to growing (or saving?) your business. Is the right advisor your MAGIC BULLET? Let's dig in.
Many business owners and managers we meet intuitively have a sense of the current state of affairs of their business. They often think they know where they need to be when it comes to growth and financing needs... where things fall apart is their inability to understand which of a multitude of finance options are available. In some cases it's a lack of knowledge, in others it just time and resources.
Enter the Canadian business financing advisor. The key role here is quickly established - identifying and carefully explaining all options, and then executing on them.
Naturally along the way, whether you are doing it yourself or with professional expertise there is a minefield of turbulence. That comes to a certain degree from the fallout of the 2008 world wide financial implosion/recession, with many Canadian business owners still believing we're not quite out of the woods on that one.
Then there are the issues with your current lenders, as well as your overall relationships with suppliers and vendors, etc.
Financing issues tend to address either your existence or survival, or alternatively growth. The role of an experienced business finance advisor is to understand what resources and assets are in place for your firm, and how they can be maximized based on the future plans of your firm.
Nothing is as important as understanding your current financial position. When you understand the current capital structure of your balance sheet, the quality and size of the assets, your operating cycle (days receivable, days payable, inventory turns) and how these assets either eat up or can be monetized into cash you are immediately ahead of the game.
Some very basic issues need to be addressed by yourself or your expert advisor. They include understanding who you are currently borrowing from, their collateral, and any issues that surround your relationship. In many cases we discuss with clients the company is ' off side ' on ratio, covenants, loan and interest payments, etc. In many cases its time to replace that financing with something else.
The good news about ' growth ' is that it's a bit more fun to address when it comes to traditional and alternative financing solutions. Understanding your gross margins and your working capital needs can 99.99% of the time bring a fix to financing growth?
Don't underestimate the needs of a trusted, credible and experienced Canadian business financing advisor when it comes to originating finances you need to operate and grow your company. After all, if you didn't need that help, and if you understood every option available you'd be there already, right?!
Stan Prokop [http://www.7parkavenuefinancial.com/stan-prokop]
Although we say it somewhat tongue in cheek, the reality is that if you had all the financing you need you certainly would have it in place already, without any help from an ' expert '. What then is the role, value and cost of advice when it comes to growing (or saving?) your business. Is the right advisor your MAGIC BULLET? Let's dig in.
Many business owners and managers we meet intuitively have a sense of the current state of affairs of their business. They often think they know where they need to be when it comes to growth and financing needs... where things fall apart is their inability to understand which of a multitude of finance options are available. In some cases it's a lack of knowledge, in others it just time and resources.
Enter the Canadian business financing advisor. The key role here is quickly established - identifying and carefully explaining all options, and then executing on them.
Naturally along the way, whether you are doing it yourself or with professional expertise there is a minefield of turbulence. That comes to a certain degree from the fallout of the 2008 world wide financial implosion/recession, with many Canadian business owners still believing we're not quite out of the woods on that one.
Then there are the issues with your current lenders, as well as your overall relationships with suppliers and vendors, etc.
Financing issues tend to address either your existence or survival, or alternatively growth. The role of an experienced business finance advisor is to understand what resources and assets are in place for your firm, and how they can be maximized based on the future plans of your firm.
Nothing is as important as understanding your current financial position. When you understand the current capital structure of your balance sheet, the quality and size of the assets, your operating cycle (days receivable, days payable, inventory turns) and how these assets either eat up or can be monetized into cash you are immediately ahead of the game.
Some very basic issues need to be addressed by yourself or your expert advisor. They include understanding who you are currently borrowing from, their collateral, and any issues that surround your relationship. In many cases we discuss with clients the company is ' off side ' on ratio, covenants, loan and interest payments, etc. In many cases its time to replace that financing with something else.
The good news about ' growth ' is that it's a bit more fun to address when it comes to traditional and alternative financing solutions. Understanding your gross margins and your working capital needs can 99.99% of the time bring a fix to financing growth?
Don't underestimate the needs of a trusted, credible and experienced Canadian business financing advisor when it comes to originating finances you need to operate and grow your company. After all, if you didn't need that help, and if you understood every option available you'd be there already, right?!
Stan Prokop [http://www.7parkavenuefinancial.com/stan-prokop]
