Growth to Exit

[Growth to Exit @GrowthtoExit]

@askadamtorres Thanks, Adam, we strive to make sure all businesses are prepared for an eventual and successful corporate sale transaction.

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"Well-makers lead the water wherever they like; fletchers bend the arrow; carpenters bend a log of wood; wise people fashion themselves."

- Buddha

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"Any jackass can kick down a barn, but it takes a good carpenter to build one."

- Sam Rayburn

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Growth to Exit blog post: How to Position Your Business to Sell

https://t.co/JoI14EW01u

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"Before professional architects in the nineteenth century, it was standard for an aspiring...carpenter to begin his apprenticeship at fourteen and to become a master builder by his early twenties."
- Martin Filler

How are you working with the next generation business leaders?

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You may learn much more from a game you lose than from a game you win. You will have to lose hundreds of games before becoming a good player.

- José Raúl Capablanca

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“Even a poor plan is better than no plan at all.”

- Mikhail Chigorin

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"Avoid the crowd. Do your own thinking independently. Be the chess player, not the chess piece."

- Ralph Charell

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How to Position Your Business to Sell

https://t.co/JoI14EW01u

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The Importance of Timing: When to Exit Your Business for Greatest Results

https://t.co/Hpy83tCktx

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Seven Essentials to Prepare Your Company for an Exit

https://t.co/aoHA1ACnqA

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Read our latest blog "Strategic Exit Planning: The Importance of Timing"

https://t.co/byXnwjkw4Z

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How to Plan for the Big D's: Death, Divorce, Disability, Disaster, and Disagreement

https://t.co/vRfhZ3cV2I

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Most businesses have approx 3 types of bank accts:
1/Savings: stores large sums of money you won't spend in 2 weeks
2/Checking: move money here for specific bills. Checks contain bank info. Separate to reduce theft
3/Payroll: ensures adequate money goes to employees, not a vendor

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"I’d rather regret the risks that didn’t work out than the chances I didn’t take at all."
- Simone Biles

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Should you use online-only banks? While they efficiently deliver bank services digitally, there are a plethora of significant negatives associated with online-only banking:
1) Don't assign a Bank Officer
2) Limited ancillary product offering
3) Immature consumer-focused industry

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"There may be people that have more talent than you, but there's no excuse for anyone to work harder than you do."
- Derek Jeter

[Growth to Exit @GrowthtoExit]

You must manage your relationship with your Bank Officer. Call and update him/her on a regular basis, update them about your new business strategy, new customers, product development, etc.

Arguably the most important activity: stay current on ALL loan covenants and reporting.

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"Champions keep playing until they get it right."
- Billie Jean King

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Lines of Credit (LOCs) are productive tools to effectively manage cash. Unlike traditional loans, LOCs don't have a set payment schedule. However, you never want a LOC with a stagnant balance. Banks like to see the LOC used as intended - regular draws & repayment.