In a prior blog post, we looked at 10 areas your business could save money. We looked at four of them in a little more depth: legal, banking, insurance, and audit expense reductions. Now we turn our focus to freight costs. The term “freight” includes a wide variety of costs: inbound and outbound, domestic and international, and all sizes of shipments that your company sends--from an envelope to a full container.
For developers of both internally-facing corporate applications and externally-facing web sites, a mobility strategy is no longer an option but a necessity. The reason is simple: mobile phones are where your audience is. Wherever you see people these days—waiting for a train, on line at the supermarket, working out at the gym—they are looking at their phones. Why wouldn’t you want to transform your marketing and communications so that you can reach and influence people via that phone in their hand?
Newport Board Group partners are participating in a number of upcoming sessions of Expert Webcast. Expert Webcast describes itself as a “digital source of expertise for the professional and business communities, locally, nationally and internationally.” Each session focuses on a single issue and brings together a panel of distinguished professionals from leading law and accounting firms, investment banks and consulting/advisory firms.
A recent piece in the magazine Walter that spotlights events in and around Raleigh, NC profiled a fast growing local startup business called Wine and Design, a “paint-and-sip” art studio franchise. The piece tells the classic story of an entrepreneur, Harriet Mills, who has taken her company from a single location to 55 franchises in nine states.
The following is an excerpt from an article from AllBusiness.com by Michael Evans.
Kinky Boots, the currently touring popular Broadway musical, is based on a true story. When I saw it recently, I was not only entertained by an engaging, heartwarming story. I was also struck by an uncanny parallel to the real world of middle market companies that the firm I am part of, Newport Board Group, is involved in every day.
The following is an excerpt from an article from AllBusiness.com by Jeff Bernel and Michael Evans.
To stay in business and have a chance to generate wealth for themselves, most entrepreneurs have to be good negotiators. They have the most to gain or lose in any deal, are calculated risk takers, have the vision of what their company stands for and also have an innate sense of how to be creative and structure a deal. But most importantly, they have high aspirations and the drive to expect more out of every transaction. Their egos and financial well-being demand they deal astutely and get as much as they can from each exchange. When the company is starting out, they’re the ones responsible for negotiating with vendors, customers and service providers alike. They pre-set a high bar for results—a key piece of the culture of the firm they are trying to build.
Newport Board Group Managing Director and Board Member Michael Evans took part in a webinar on March 12 sponsored by Del Morgan & Co., a Los Angeles-based investment bank. Michael shared the presentation with other prominent professionals who are regularly involved in M&A transactions with family businesses. They included an accountant, lawyer, investment banker and an HR consultant from a leading HR outsourcing firm.
Perhaps the most important rule of business is that maximizing profits requires increasing revenues while reducing business costs. Simple enough to say but difficult to implement especially when you are an emerging growth company (such as our firm, Newport Board Group, specializes in advising) and you lack strong pricing and purchasing power. As revenues increase, the tendency of businesses is to add workers, acquire new technology, and increase inventories. However, many companies grow themselves out of business by diverting cash into fixed assets and inventory investments in anticipation of expanding sales.
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