Our CEO, Leonard Wright had an interesting conversation with Anita Davis, CEO, and Founder of Praxis Strategic Solutions.
In this conversation, the main topics were growth capital and acquisitions.
Leonard shared some of the knowledge that he has acquired over more than 20 years of running his own business.
Some of the key points of this interview were the following:
Landscape change in the logistics industry.
In the past, it was a lot easier to go door to door and find new clients. Most businesses were willing to open their doors and listen to what you had to offer. Fast forward to today, and with the evolution of the internet and e-commerce, pretty much all businesses are done online.
Now, that doesn’t mean that things have changed for the worst. Like everything in life, when things change, we have to change. We have to adapt to keep things going and that’s what Leonard and INPAX have been doing over the years to maintain a successful business.
The importance of having clean books and good credit.
Leonard shared what he thinks is one of the most important keys to running a successful business; having good credit!
And because the numbers don’t lie, he gave us a formula to easily remember his #1 recommendation.
- Underfunded + bad credit = You will most likely fail
- Underfunded + good credit = You have a shot to succeed
Keep your relationship with the taxman in good standing.
If you have good credit and your tax situation is in order, you won’t have to jump through many hurdles to be able to access credit for your business needs.
At INPAX our growth has come down to good practices and acquisitions. However, being able to get credit for our latest acquisition came down to having our house in order.
Never tell a client “No”
If a client asks for something now, tell them I can’t do it today, but I can do it tomorrow!
Never tell them no. Keep your customers happy by providing great customer service and being there for them.
To watch the full interview, click the YouTube video below and let us know what you think.