Your employees have peers they work with. Business owners have peers as well. The difference for a business owner is this: your peers aren’t your coworkers; they’re your competition. And your competition isn’t going to stand around a water cooler and tell you their ideas to solve your challenges.
As a business owner, you answer to someone just like employees do. You answer to your customers. And one poor performance review from your customer may send that customer running to your competition.
You answer to your suppliers. They need to know exactly what you want, when you want it, how it will be inspected, shipped, when and how it will be paid for.
You answer to the financial institution that you deal with, whose assistance might be necessary to help you invest in your future. Conversely, without people like you, financial institutions would hardly be necessary.
You answer to your employees, even as they answer to you. You need policies that help you retain the employees you value. You need to pay them on time. You need to know employment law.
You answer to the IRS. Need we say more?
Small business leaders can often feel like they operate on a deserted island. They’re surrounded by challenges with little meaningful help to address the issues they face.
Let GuideSource help you with these challenges. We help business owners like you navigate the complexities of the modern business world. Whether your business is soaring, stable, or struggling, GuideSource’s wisdom can be invaluable as you lead your company to accomplish its goals.
Call us to learn how GuideSource can help, 888.349.4910.
GuideSource Works Out Leases
A manufacturer in the Twin Cities metropolitan area had leased heavy manufacturing equipment from an asset-based lender. The manufacturer’s revenues had fallen by over 50% in the past three years. The lease was in default. Neither the business owner nor the business’s attorney were able to come to agreement on terms with the lender.