Boca Raton, FL, September 20, 2012 --(PR.com
)-- As the economy begins to sputter back to life and companies consider taking the expansion plunge, there is more pressure than ever before in these uncertain times for C-suite executives to make prudent decisions. According to Bill Nanovsky, partner at the executive advisory firm, The SCA Group, managing business growth without the proper planning and analysis can be as tricky and sensitive as maneuvering through bankruptcies, mergers and other forms of turnarounds without expert support.
“Outcomes can easily spiral out of control if not managed and monitored properly. Never lose sight of your goals-- or your methods and people who can best help you achieve them,” says Nanovsky. As a result, SCA offers the following tips for helping executives keep their sights on new growth opportunities and growth execution:
1. Thoroughly understand the circumstances surrounding the new business environment and its unique set of challenges before moving forward.
2. Always align growth with strategic goals.
3. Always align growth with capital availability – insure that the required funding is available every step of the way.
4. Ensure the ongoing availability of liquidity for overcoming unforeseen challenges or expenditures and for the payment of increased income taxes.
5. Make certain the funds are available to pay current liabilities as they come due. Recognize that liability terms are often shorter than subsequent sales’ terms.
6. Be diligent about preparing forecasts and understanding business drivers so that the need for added levels of credit are recognized as early as possible.
7. Do not over hire employees. Manage staffs effectively, accurately and astutely so they can not only handle current workloads, but also future variances in account activity. Consider rewriting job descriptions and using flexible, interim resources during excessively active periods.
8. Know when to get help. C-suite executives must learn to delegate during high-pressure situations. Be willing to accept the assistance of competent and qualified outside advisory and staffing sources, in addition to your internal resources.
9. Know when to break ties with customers who consistently drain time and resources. Constantly explore new venues to identify business partners, not just clients, that respect services and expertise, and importantly, pay within terms.
10. To sustain growth and create an ongoing successful experience, make certain profit margins rise in spite of the added demands placed on staff and resources.
About The SCA Group, LLC
The SCA Group provides C-level services including strategic counseling, operations optimization, regulatory solutions, technology initiatives, restructuring, mergers and acquisitions planning and support, and interim management to South Florida organizations. SCA offers expertise and immediate action to help companies through complex and often unforeseen financial circumstances. Each Partner has over 25 years of executive management and advisory experience. For more information please visit http://www.thescagroup.com or call 561-210-4423.