A loan is both a contractual agreement and a relationship. Ensuring the health of that relationship requires ongoing and positive communication with the lender. Today’s newsletter takes a look at lender communications and offers suggestions on how to do it well. Read more…
The post How to Improve Your Lender Communications (June 2024) appeared first on Goodrich Associates.

Selling a distressed business is almost always better than liquidating. But it is not easy, nor is it the same as selling a business that is healthy and solvent. You’ll need experienced, capable professionals by your side and a bias towards moving quickly. In today’s newsletter, I review the necessary steps for getting this done and share pointers for avoiding…

Often, business owners incorrectly assume their business is profitable because they rely solely on financial statements. While these are certainly important, a true picture of business profitability requires understanding economic profit as well. In today’s newsletter, we explain the distinction and look at why evaluating economic profit is critical in assessing true financial performance. Read more…
The post Why Worry?

Every business runs on dollars — but there are limits to purely financial analysis. When tracking performance and working to maximize the output of critical measures, it is important to look beyond just financial indicators and consider other factors as well. In today’s newsletter, I share examples of additional, quantity-related measures that should be included in the overall mix. Read more……

Every well-run company relies on data to operate the business. But using the wrong data or looking at it in the wrong way can lead to faulty “insights.” This month, I take a look at how data should (and should not) be used by businesses when attempting to draw conclusions and make decisions. Read more…
The post The Critical Importance…

When it is not possible to turn a financially troubled business around, selling is usually the best option. However, selling a distressed business is not the same as selling a healthy one. Today’s newsletter explains why and offers suggestions — and cautions — if you find yourself in this position. Read more…
The post Tips for Selling a Distressed Business…

Choosing an appropriate bank for your business is a non-trivial, yet often overlooked decision. A good match is important, and changing lenders is never simple. In today’s newsletter, I lay out the factors to consider and walk you through a typical winnowing process from start to finish. Read more…
The post How to Pick a Lender (December 2023) appeared first…