The value of a procurement expert
Karl Shaw, COO at TPI Efficiency Consulting, covers the role of procurement experts and how their work impacts the operating costs for businesses.
A diversified approach to investing can safeguard your retirement plans
Adam R. Lulow, a Retirement Benefits Specialist at The DMG Group, talks about the importance of diversity when building out your retirement plans.
The rules are about to change the way family businesses are valued
The IRS has released proposed regulations that will significantly change the way family businesses are valued by discontinuing valuation discounts. At this time, however, there is still the opportunity to use valuation discounts to reduce the tax burden when transitioning family-owned entities, at least for a couple more months. “If you have any interest in […]
How the sale value of a business is properly determined
Learning what your organization is really worth can bring dividends
What to do when you have concerns about your bank
The changing landscape of banking in Northeast Ohio has led some customers to re-evaluate the relationship they have with their bank, says Kevin Vonderau, Executive Vice President and Chief Lending Officer at Westfield Bank. The one thing you can’t do when you have concerns about your bank is to pretend that the problem doesn’t exist.
Redefine what your customer is buying and create market differentiation
At some point in its lifecycle, every company eventually faces the pricing and margin pressure that results from increased competition. This is often a good opportunity to look at both your marketing strategy and value proposition and develop a more targeted message to present to your customers. Smart Business spoke with Chris Meshginpoosh, Director at Kreischer Miller, about techniques companies can use to differentiate offerings, drive growth and increase profitability.
Culture, employee experience and how HR is (re)defining them
The Human Resources function is changing. As the talent landscape shifts and millennials come to define the workforce, the traditional tenants of HR are adapting to this generation’s imperatives. Bryan Buck takes a look at the changing role of HR and how it shapes hiring efficacy, culture and engagement.
Venture debt can be a good option to fund medical device technology
Venture debt has long been a favored source of non-dilutive capital amongst life science companies, particularly medical device companies. Why? Venture capital investing in medical devices and diagnostics has traditionally lagged biotech by more than half, says Justin McDonie, senior vice president and managing director at Bridge Bank.
See how the lack of venture capital dollars for medical device companies creates opportunities for venture debt to augment venture capital dollars to fund medical device technologies.
Silence doesn’t always mean no
Sales Tip 326 Silence doesn’t always mean no Stop assuming that just because you didn’t get a response to your phone call, email or text that the person you are trying to contact isn’t interested. There could be a number of reasons why they haven’t gotten back to you. Maybe they are out sick, on […]
Joining the family business: Should the children work elsewhere first?
For the past decade or so, the prevailing wisdom among family business consultants is that second generation (and beyond) family members should work a minimum of three years outside of the family business before joining. Many are now recommending a five-year minimum.