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It's a Done Deal
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$250,000 factoring facility
to a hydraulic distributor to purchase additional inventory and fund new growth.
$250,000 factoring facility
to a binding and publishing company to smooth out their cash flow.
$1.25 million asset-based line of credit to a tool and die manufacturer to fund future growth opportunities.
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Did You Know?
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Now a division of Hitachi Capital America Corp., Hennessey Capital has new and increased resources to meet the needs of its clients across the United States. Services range from factoring and revolving A/R lines of credit to asset-based lines of credit including equipment. Funding solutions range from initial invoicing to $5 million and beyond. To learn how to improve your cash flow and fuel new growth opportunities for your company, contact us.
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| Greetings! | |
The new year offers the chance to start fresh with a renewed sense of hope and prosperity. This month's newsletter focuses on that theme by examining and taking advantage of new sales and marketing opportunities in 2013. Enjoy!
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Loyalty: How to Take Care of Customers
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By: Jeff Wright
Senior Vice President &
Business Development Officer
In today's ever-changing economic times, your customers are managing their cash closely and looking for the most value for their money. Being the lowest cost provider is not the only reason your customer keeps coming back.
Providing a quality product with extraordinary customer service becomes even more important. There must be a culture within your organization of providing good customer service. Employees must be trained, have the tools, and be committed to address the customer's needs and solve their problems in a timely manner. By doing so, you develop a relationship with your customer and build trust and loyalty over time.
It begins with listening and communicating with your customer to meet their needs to provide a desired result. Understanding their business and the problems they face can result in ideas and solutions that will help you retain their business and lead to new sales. This should be a continuous process that must be nurtured.
Things to keep in mind include:
- The message you deliver must be consistent
- Always do what you say you are going to do
- End each interaction by asking, "Is there anything else I can do for you?"
- Stay connected using phone calls, emails, notes, and mailings
- Share your resources to help solve problems
While salespeople are always looking to add new customers, it is just as important to focus on maintaining your existing customers if you are going to grow your business and stay competitive.
A satisfied customer may lead to referrals to other companies who may need your products or services. The time and effort in building loyalty does not cost much, but could have huge benefits.
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LinkedIn: 3 Resolutions you Should Make
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Is networking at the top of your list of career resolutions for 2013? There are few better -- and faster -- places to start than making the most of your LinkedIn profile. Although in-person meetings are still a crucial part of networking, social media can get you in touch with new people, fast.
"Now is a great time to make changes to your LinkedIn profile because it's a new year, with new possibilities.... Continue Reading
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10 Surprising Marketing Predictions for 2013
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Remember the days when a big-box store sounded the death knell for small business? Today, that trend may be ending due to another event: the emergence of mom-and-pops with the muscle of a major brand.
Social media, online marketplaces such as Etsy and Fab, and transaction-processing technologies have enabled even micro-businesses to compete with national chains... Continue Reading
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Professional Partner Spotlight: Harmon Partners
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About: Harmon Partners is a strategic business advisory firm located in Birmingham, Michigan that provides expert management consulting, corporate finance, business valuation, and exit planning services to owners and managers of privately-held, middle-market companies. Specialties include performance improvement, debt financing, and growth strategies.
Harmon Partners was co-founded by nationally recognized business consultants Meagan Hardcastle and John Dimovski, who most recently received prestigious "Turnaround of the Year" awards from both the M&A Advisor and the Turnaround Management Association. Drawing upon backgrounds in commercial banking, "Big Four" accounting, private industry, and extensive consulting experience, the Harmon team has built a strong track record as effective financial advisors to clients across a wide variety of industries. The firm is deeply committed to protecting and enhancing business value and owners' equity, and delivering tangible high-impact results. Harmon Partners helps clients successfully navigate through transition periods, solve complex challenges, profit from opportunities, and reach their strategic and financial goals.
Website: www.harmonpartners.com
Learn more: John Dimovski or Meagan Hardcastle at (248) 723-7933
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7 Marketing Metrics Worth Obsessing Over
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Marketers need to measure a lot of things in order to get better. Not everyone does and those that do sometimes measure the wrong things.
The obvious things like leads and sales revenue are important, but they're quite often just a measure of what is and not an accurate measure of what could be. Until you can grasp the things that impact your organization's true health, you'll be stuck treating symptoms instead of treating the disease.... Continue Reading.
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7 Steps to Become an Authority in Your Industry
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Becoming an authority in your industry can be a great way to promote your business and help you better serve your clients. It takes a consistent dose of education and risk, but the rewards can be well worth the effort.
Why? Becoming a go-to person for industry leadership should incentivize potential clients to seek out your wealth of knowledge. The bottom line is that authority can lead to profitability... Continue Reading
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Contact Toby Dahm, Jeff Wright, or Joe Romeo or call us at (248) 658-1100 to discuss how we can help you create additional working capital for your business.
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