Customer Channels & Operations Management, Program Build Out, Business Strategy, Human Capital
1 minute read
Aug 4, 2021
Written by: Shawn Sweeney
An unexpected pot of money lands in your lap. Do you splurge on something exciting? Or spend the money in ways that will support your long-term goals?
Since I run a growth-oriented business, I’m always focused on creating systems that enable ready access to cash, as I shared in a recent Forbes Finance Council discussion.
Some of you might be tempted to take an unexpected windfall – whether a personal raise or a boost for your corporate revenue – and find a fun way to enjoy that extra cash. Others might be more cautious and park that found money in the bank. Whatever direction is right at any given time, the key is ensuring that investment bolsters your organization’s overall financial position.
Personally, my entrepreneurial spirit means I’m constantly looking down the road and preparing my company for the next opportunity. That means that when an unexpected influx appears, my gut reaction is to check to make sure our cash reserves are at a comfortable level, ensuring the business is healthy and holding steady.
Rather than spend on something trendy or short-lived, I tend to lean toward investment opportunities that further deepen our assets. I know that by investing wisely in talent, we widen our capabilities, and the company can generate new revenue instead of taking on liabilities that create new risk or expense.
Looking for more smart tips from the Forbes Finance Council experts? Check out some other ways to get the best ROI on your financial windfall.
Spinnaker Consulting Group was revealed on October 2, 2019 on Richmond Bizsense RVA25's list as the region's #1 fastest-growing and dynamic organization (on the heels of being placed 516th on the Inc. 5000). This is the seventh year of the annual list and Spinnaker’s debut with a 585 percent average annual growth from 2016 to 2018.
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