Day-to-day management work may pay the bills, but it’s your long-term vision that will lead you where you want to go. Do you know what financing it will take to make those plans a reality? You certainly don’t want to miss an opportunity to expand. How can access to capital help your company branch out and grow profits and market share along the way?
Start by reviewing your primary financial goals. How would you describe your business plans for this year? Are you looking to improve, grow, or rebuild your company? Pick the primary strategy that fits your business. Use the chart below to consider the impact of potential investments on your business.
Where could your company use capital? What type of capital does your company need? Which capital sources fit your business?
These exercises can help you find direction in no time! Ask your business advisors, like your accountants, attorneys, and bankers for assistance.
This exercise is a great way to start conversations about your business’s current initiatives and options. Who you choose to include in those conversations will depend on the stage of your company and your business goals. Consider advisors like your CPA, attorney, and transactional consultants like business and commercial real estate brokers. Your Truist relationship manager can help you evaluate the impact of new capital on your business.