All Posts Tagged: profitability
Small business growth has been a focus for us in 2015. We’ve spent a lot of time talking to our business customers about growth, studying themes related to expansion, and sharing insights and perspectives on it here on the Blog.
Earlier this year we were encouraged to see that small businesses are growing again, as confirmed in our annual small business survey “Primed for Growth.” We also learned useful tips from the experiences of some of our manufacturing business customers in the “Made Here” series of interviews throughout the year.
Today, we are pleased to publish our third business white paper of 2015, “Achieving Smart Growth: A Guide for U.S. Manufacturers.” In this report, we stepped back and asked a big, important question: Should you grow your business?
One of the leading minds on smart growth, Prof. Edward Hess of the University of Virginia’s Darden School of Business, helped us build on that question with his thought-provoking views on business growth. What questions should a business owner ask in determining whether to grow? Our report focuses on five that are useful to business owners, including “How do I ensure increased sales lead to higher profitability?” and “What levers do I have to help manage cash flow?”
In addition, the experiences of some of our small business manufacturing customers and our own small business research helped shape our thesis: There are three essential components of successful growth — planning, investing, and funding.
With the U.S. economy growing, I believe it’s important for small and medium-size manufacturers to evaluate their growth strategy and make adjustments as needed. Insights in our “Achieving Smart Growth” guide may help business owners with that process, and the list of useful third-party resources at the end of the report may help you strategize and position your business for lulls and good times.
As you read the report, you may also get some ideas for 2016 planning. A small bonus for the New Year!
I also recommend reading some of these interviews with manufacturers; their experiences may help or inspire you:
- Careful financing and customer selection drive growth (Foamtec)
- Lifetime warranties drive growing business (KOR-IT)
- Going global with U.S. innovation & quality (Ceilings Plus)
As the overall U.S. economy continues to grow, it’s having a positive impact on the outlook for many small business owners today.Read More ›