Joining us for part 2 of our conversation is serial entrepreneur and author Dave Sutton. Today, we’re diving deep into the intricacies of funding your business as it grows and leveraging your balance sheet effectively. Dave shares insights on navigating the inflection points that businesses encounter during their growth journey, shedding light on the implications for funding, talent acquisition, and strategic planning.
Discover how Dave plans the balance sheet of businesses, addressing common misconceptions and emphasizing the crucial role of capital in achieving business objectives. You’ll learn from Dave’s experiences in handling disruptions that necessitated pivots in his business strategy. From the importance of diversification to balancing profit and growth priorities, Dave offers advice for entrepreneurs navigating the challenges of scaling their ventures.
What You’ll Learn:
- How to fund your business as it grows.
- How Dave handles disruptions in his business.
- Why Dave advocates for balance in your business.
- The importance of diversifying your income streams.
- If you should focus on profit or growth first.
- How you can use debt to make the business work.
Ideas Worth Sharing:
- “Don’t put all your eggs in one basket. Don’t have everything that you do aligned with one client or one industry because you can’t predict what’s going to happen.” – Dave Sutton
- “Sometimes the people that got you where you are, are not the people who will get you to where you need to be.” – Dave Sutton
- “In the service-based industries, I truly believe that if you can’t turn a profit within the first 12 months, you’ve got a problem.” – Dave Sutton
Resources:
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