Business Resources Library

Viewing Author: Heidi Freedman
Using Financial Projections as a Tool to Drive Success

Your small business’s financial projections are among the most effective and powerful tools to guide growth. Using these figures can help you keep your business on track, monitor cash flow, and identify problem areas before they become serious. In this article, Excelsior Growth Fund’s team explains why it’s smart to use financial projections as a tool for growth and how to do so successfully. Why use financial projections? Business leaders, lenders and mentors consistently [...]

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Outsourcing Elements of Your Business

Nearly every small business owner reaches a point where they realize more help is needed. Determining what kinds of roles need to be filled, when to fill them and how to do so are among the most significant decisions that business owners make, in large part because  hiring and training new employees can be costly and time-consuming. For many small businesses, it makes sense to outsource certain parts of their operations. In this article, Excelsior Growth Fund’s Business Advisory [...]

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Advice From Family Run Businesses

Family-run businesses are in a unique position: they must navigate common business challenges alongside challenges from close, personal relationships. It takes a strong bond to successfully grow a business with a spouse or family member, and the lessons learned along the way can benefit any business owner. Excelsior Growth Fund (EGF) is proud to have worked with several family-run businesses that have grown by playing off one another’s strengths. Two couples in particular have found [...]

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When should small businesses hire employees?

While a few small businesses may never intend to grow beyond the amount of work that the owner can take on, eventually, most small businesses need employees. Since bringing on employees is both costly and time-consuming, Excelsior Growth Fund asked for advice and insight from Holly Nowak, President and Lead HR Developer of HMN Resources, LLC. Here are some key signs that it’s time to hire and advice on how to do it well. Determine what you want for your business Before hiring [...]

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How to improve your business credit score

You’re likely familiar with personal credit scores, which are based on criteria like the percentage of your available credit that you use, whether you make timely payments and the types of credit lines that you carry. But did you know there are also business credit scores? What is a business credit score? Much like personal credit scores, business credit scores measure the creditworthiness of your business and are sometimes used to predict the likelihood that your business will default [...]

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