“When worried investors ask the management of a privately held company how it’s doing financially, there’s often a scramble to provide them even the most rudimentary information.
‘We call it ‘interns and Excel’ – people will get on the phone and say, ‘I haven’t heard from you in three quarters,’ and they’ll send them a PDF or a Google spreadsheet,” said Raymond Luk, founder and chief executive officer of Hockeystick.co, a financial-technology startup that helps companies share financial and other relevant data with investors. ‘When you add it all up, there are hundreds of millions of dollars being discussed as if it was a grocery list.’”
It is so important to have financials ready for your investors, or for potential buyers. Hockeystick has created a way to make that easier for private business owners. If having you information ready becomes a scramble every single time someone asks for it, maybe it’s time to check out this new system.
You can read the entire Globe & Mail story by going here.
If you are interested in exploring business opportunities or are contemplating the sale of your business, call toll free 1-877-289-0969