Sensing the Great Recession's impending end, partner franchisees of a national steak house chain and their building's owner embarked on a move others may have thought too risky. They made a business investment in everything from new kitchen equipment to updated interior design and a new roof. It paid off. Soon after, the eatery reached previously unmatched sales levels and captured sky-high customer service ratings.
Sensing a new, favorable shift in the economic environment in which your business operates can signal the time to invest in your business. Other harbingers exist as well. Consider all the following when determining whether to invest now in your business.
- The investment aligns with goals. If given opportunity to make an investment fitting perfectly with this year’s primary objectives, the time has likely arrived to take the plunge. Ask yourself if the investment will advance your company in one-, three-, six-, nine- or 12-month time horizons. If the outlay adds value in at least two of those periods, now’s time to invest.
- A commercial loan represents the tool required. For many companies, taking on debt to fuel business growth shouldn’t be feared. Opportunities must be seized when they present themselves. Wait until you’ve gathered necessary funds and the opportunities can vanish. When explored strategically, commercial loan debt can provide leverage necessary to ratchet your company to higher plateaus.
- Your company faces a near-capacity situation. When your company can’t continue growing without adding new staff, new equipment, new facilities, new products, new services, new promotion or all the above, investment time has nearly arrived. When you’ve expertly strategized what’s needed to go beyond present levels, as well as its cost and ROI, investment time has fully arrived.
Throughout a typical company’s life, crucial moments to invest for growth will appear. Ability to recognize and act on those signals can be a critical factor in long-term success.
What sign heralded the moment to invest in the growth of your business?
For related content, check these articles: