There are two major considerations when planning for the growth of a business. The first is what to grow. This course explains a fundamental mistake that many business owners make when growing their business – focusing on growing revenues rather than profits. When the primary focus is on growing revenues, the business takes on customers that may actually hurt the profitability and cash flow of the business. Also, such a focus leads to an increase in new business that can quickly become unmanageable. When the focus is on growing profits, the business adds quality customers at a pace that ensures a strong bottom line and healthy cash flow. The second major consideration is how much to grow the business. To lead a happy and balanced life, entrepreneurs need to learn to align how much they grow their business with their personal financial needs. This course walks the learner through a model for planning for growth that takes both of these considerations into account.
1 activity • 14 videos • duration: 1h 40m
Entrepreneur / Professor / Author
Dr. Jeff Cornwall is the inaugural recipient of the Jack C. Massey Chair in Entrepreneurship and Professor of Entrepreneurship at Belmont University in Nashville, Tennessee. He also was founding director of the Center for Entrepreneurship at Belmont, and led the Center for the first ten years of its operation. He has a Doctorate in Business Administration and an MBA from the University of Kentucky. In the late 1980’s, Dr. Cornwall left academics for a nine year “sabbatical” to become the co-founder and President/CEO of Atlantic Behavioral Health Systems, headquartered in Raleigh, NC. Dr. Cornwall has received national awards for his work in curriculum development and teaching, and in 2013 he was named the National Entrepreneurship Educator of the Year by the United States Association of Small Business and Entrepreneurship. He has published ten books and numerous articles on entrepreneurship.
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Great instructor with a good review of the content.
