Schlagwort: Balance Sheet Resilience


  • For more than a decade, growth was worshipped. Revenue growth.User growth.Market share growth.Geographic growth. If it moved up and to the right, it was celebrated. But here is the uncomfortable truth: Growth is not strategy. Growth is an outcome. Strategy is a set of deliberate choices. Confusing the two has destroyed more value than any…

  • Most companies treat refinancing like administration. A maturity date approaches.A bank process starts.A few term sheets come in.The cheapest one wins. Done. This mindset is not only outdated. It is dangerous. Refinancing is not a transaction.Refinancing is a verdict. The market is not “tight.” Your structure is. In easy markets, almost everything refinances. Weak balance…

  • Unternehmer denken über viele Dinge früh nach: Marktposition, Technologie, Vertrieb, Kundenservice. Doch über Kapitalstruktur, die Mischung aus Eigen- und Fremdkapital, fangen viele erst dann ernsthaft nachzudenken an, wenn es zu spät ist: wenn die Bank die Kreditlinie kürzt, Liquidität eng wird oder eine Refinanzierung ansteht. Das ist kein Zufall, es ist strukturell bedingt. Kapitalstruktur: Ein…

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