Virtually every businesses reaches a point, if successful, where it’s growth curve out-paces it’s ability to generate capital which can sustain that growth.
(I know, I know, you’re developing a “lifestyle businesses”… uhm… can you give me the benefit of the doubt anyway?)
Rich Devlin’s been my CPA for the past 10 years, save for a brief hiatus when we moved to New Hampshire. If it weren’t for Rich and his guidance in working with bankers, I don’t think we would have gotten through the dreaded “facility years” (2001 thru 2003) without declaring bankruptcy.
In this surprising interview, Rich reveals some very interesting twists for consideration BEFORE you need a banker.
Made me think twice about how I’m running my (now quite profitable) business. Worth a listen!