Hi SMHB,
This week's theme is growth. When you have a good handle on vision, long term planning, and cash flow visibility... you can begin to think about growth outside of your current paradigm.
At GrowthLab, we look at growth through two different lens - organic and acquisitive. On the organic side, it's about driving volume through your sales pipeline and being able to service that with a growing team. We are finding that overall digital marketing costs (specifically CPC), are down from prior months and years. This gives an opportunity to businesses to be more efficient with their digital marketing dollars. In addition, this is an employers market; hiring managers are able to recruit and hire from a larger pool of applicants, many of which are able to be found from competitors.
On the acquisitive side of growth, there are a lot of companies that will be looking for an exit over the next 3-12 months due to the impacts of COVID-19 on their business and industry. Going back to my foundational statement: You have to have a good handle on vision, long term planning, and cash flow visibility. With these in your back pocket, you have the tools to drive growth via acquisition and now is a good time to seek and filter acquisition targets.
As an added gift from the SBA, they recently released information about all PPP loan recipients above $150k. It's an excellent data set to use to find businesses that may be hurting from COVID and may be interested in a conversation about acquisition.
New Resources
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