Financing
We congratulate you on your well-run business! Are you sure it cannot be made even more successful?Everyone cares about his money and might even think that he is an expert in financial matters. Some people believe that investment and financing is a deeply private matter of a firm. Other people say using an advisor may bring additional benefits provided he does not cost much. But you know the proverb: if you buy cheaply you pay dearly. You may receive a standard advice promising big monies for small fees but in most cases such advice is often based on a loophole, which will be eventually closed.
A typical mistake of closely held private companies is that the owners distribute all the profits in order to see quick returns. Another extreme is when the too cautious owner keeps an unreasonable amount of cash in current accounts instead of making it produce more profits.
Regardless of ownership structure or company size it is always important to know how much working capital is needed for a smooth operation, how much should be invested and how much could be distributed.
Asking for advice is a good investment. A well-chosen advisor is in partnership with you. He will care about your business and keep your business secrets as if they were his own. It is his vested interest because he wants you to come back for advice many times again.