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Thank you Vincent B. Mastrovito, CEPA® CBEC® CVGA®. Spot on: assess that the next generation actually wants to take over; make sure they have the people, processes and cash to succeed; and sleep well at night knowing the business has the Strategic Capacity needed for delivering PREDICTABLE profits & growth (Dimensions 1 & 2 of Growth-Drive's methodology). Side note, a client might also consider consulting with a sophisticated insurance advisor about de-risking key aspects. Strategic Capacity drives growth. Terrific series of articles Vince. -George #exitplanning #growthdrive #valuegap #strategicplanning
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As we've started to work with more and more breweries, one thing continues to stand out: the critical importance of viewing and treating your wholesalers as true partners, not just another sales channel. This approach goes beyond business processes and by the book strategies—it's about relationship building and creating a partnership that can significantly influence a brand's success in the market. 🤝 Mutual Investment: Trust me, your distributors can tell whether you view them as partners or not. Your daily interactions and communication with distributors clearly reflect your attitude towards them, impacting the relationship significantly. Nothing can compensate for a lack of respect and support. Remember, distributors are not just another sales outlet; they are your business partners in each market. The more you invest in and support this relationship, the more success you will achieve. Such a constructive relationship motivates distributors to go above and beyond in marketing and selling your products, directly boosting your brand’s growth and reach. 😕 Avoiding the Pitfalls of Transactional Relationships: A purely transactional view where distributors are seen as just another sales avenue can breed resentment. If a brewery starts wondering, "Why aren't they selling more?" without understanding the distributor's challenges and market conditions, it creates a divide. This often leads to distributors prioritizing other brands that value a collaborative approach. 🌟 Building Strong Relationships: By engaging positively and recognizing the critical role that distributors play, breweries can foster a spirit of teamwork and shared objectives. We are all human, and when we are working hard to achieve a goal, all we really want is someone in our corner supporting that effort. When we are getting that support, we are so much more likely to go above and beyond to help achieve additional success for that partner. The shift from viewing distributors as mere vendors to recognizing them as key partners is crucial. Having witnessed these relationship dynamics for nearly a decade from a wholesaler's perspective, and now while working with beverage companies, the importance of this dynamic could not be more clear. Before you do ANYTHING else for your beverage company, you have to evaluate and adjust the perspective of your distributor relationships. Are you working alongside them towards shared goals, or are you just hoping they hit sales targets? Until you get the right approach to your distributor relationships, nothing else matters. #BeverageIndustry #Partnership #BusinessStrategy #BrandGrowth #Leadership #FiveStarBeverage #FiveStarStrategy
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The 10 Components Necessary to Maximize the Value of Your Company Join us for a unique Virtual Roundtable to discuss these components and more. Please reach out to me. 1. Focus on profitability: Make sure your company is profitable or on a clear path to profitability. Company financials must be crisp, consistent, and ‘tells the company’s story.’ 2. Increase revenue: Can your company demonstrate a path to dynamic and/or sustained growth? Make sure the company follows a creative strategic marketing and sales plan. 3. Reduce costs: Does the company have a process and performance improvement plan to control costs as the company grows? 4. Build a strong team: It is critical to build a flat and responsive organization built for speed. This objective can only be achieved by building a Leadership Team to whom the CEO can delegate responsibility and authority, resolve conflicts, and hold each other accountable in a positive way. 5. Focus on customer satisfaction: Companies must continually check the pulse of customer satisfaction and demonstrate it to potential buyers. 6. Invest in technology and innovation: Stay ahead of the competition by investing in technology and innovation. This could involve improving existing processes, adopting new technologies, and ensuring the company and customer data is secure. 7. Build a strong brand: Invest in building brand awareness and creating a positive reputation in the marketplace. 8. Acquire new talent and ‘prune’ marginal talent. Accomplish this task through building strategic partnerships, invest in internal training, implement measurements against performance and build a positive culture by design to retain key employees. 9. Focus on scalability: Build a business model that is scalable and can grow rapidly without requiring significant additional resources. This will help you maximize the value of your company and attract potential investors or buyers. 10. Prepare for an exit: Even if you're not planning to sell your company right away, it's important to prepare to prepare for an eventual exit. Do you have an Exit Strategy plan? Hope is not a strategy.
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Unleash the hidden potential within your business through Research and Development (R&D) tax credits with Titan Business Advisors. Beyond taxes, Titan Business Advisors navigates the complexities, identifying qualifying activities often missed. Our tailored strategies ensure maximum benefit, empowering businesses to reinvest and thrive. As dedicated partners, Titan's expertise becomes your catalyst for financial success. Join the innovation revolution and let Titan guide you to unearth lucrative R&D tax credits, fueling your business growth. Disclaimer The Titan Business Advisors Inc. DBA Titan Business Advisors is a licensed business brokerage in CA. DRE #02225176. No officer, contractor, or affiliate of The Titan Business Advisors Inc., DBA Titan Business Advisors is authorized to give legal or tax advice. If you need legal or tax advice consult an attorney or tax preparer. #titanbusinessadvisors #wherebusinessgrows
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