Fri, 10 May 2024
Business Turnarounds Hello, this is Hall T. Martin with the Startup Funding Espresso -- your daily shot of startup funding and investing. A business turnaround is taking a company that is underperforming and modifying its operations and strategy so that it recovers financially. Startups who are candidates for a turnaround are not doing well. They suffer from a lack of leadership, focus, strategy, or execution. Consider these steps in a turnaround situation: Identify the problem. This could be lack of funding, missing leadership, little or no sales and marketing, incomplete products and more. Set a goal. Some businesses need years to recover while others can recover more quickly. Gain consensus on the goal of the recovery. Determine a strategy. Focus on the core problem and write out a plan to solve it. Implement strict financial controls. Apply strong cash management and tight expense controls. Work to achieve cash flow breakeven first and then move to profitability. Increase sales by improving the product, raising the price and converting more leads into revenue. In running a business, be candid and frank about the current situation. Be willing to make tough choices around hiring and firing and what roles each one takes. Everything is open to change including the management team, the product, the target market, and more.
Thank you for joining us for the Startup Funding Espresso where we help startups and investors connect for funding. _______________________________________________________ For more episodes from Investor Connect, please visit the site at: http://investorconnect.org Check out our other podcasts here: https://investorconnect.org/ For Feedback please contact info@tencapital.group Please follow, share, and leave a review. Music courtesy of Bensound. |
Fri, 10 May 2024
Welcome to this episode of Investor Connect, hosted by Hall T. Martin, featuring Gary Forni, the Chairman of the Central Texas Angel Network (CTAN). With a distinguished career in technology and venture capital, Gary has been pivotal in starting, mentoring, and investing in startups, particularly in Central Texas. He emphasizes innovation and disruptive technology in his investment strategy and supports entrepreneurs through his involvement with accelerators like Capital Factory and TechStars. Previously, Gary held executive roles at Intel Corp and Marvell Semiconductor, contributing to significant business ventures including Intel's flash memory business. CTAN, under Gary's leadership, has become one of the most active angel investing groups in the U.S., having invested $129 million in 215 companies. Based in Austin, Texas, CTAN boasts over 120 accredited investors from diverse sectors, committed to fostering the growth of early-stage businesses. The network not only provides capital but also essential mentoring and business resources, enhancing the success rate of startups and contributing to the economic vitality of Texas. During the interview, Gary discusses CTAN’s strategic approach to investments, balancing direct startup funding with a sidecar fund that allows for diversified investment portfolios. He shares insights on the challenges and strategies in angel investing, particularly how CTAN adapts to economic shifts to maximize investor and startup success. For more information on CTAN’s initiatives or to get involved, visit [CTAN](http://www.ctan.com/). For the latest updates and news from CTAN, check out [CTAN News](https://www.ctan.com/ctan-news). To connect directly, you can email Katelyn at gkforni@gmail.com. Join us next time on Investor Connect for more expert insights into the investment landscape. ________________________________________________________________________ For more episodes from Investor Connect, please visit the site at: http://investorconnect.org Check out our other podcasts here: https://investorconnect.org/ For Investors check out: https://tencapital.group/investor-landing/ For Startups check out: https://tencapital.group/company-landing/ For upcoming Events, check out https://tencapital.group/events/ For Feedback please contact info@tencapital.group Please follow, share, and leave a review. Music courtesy of Bensound.
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