October 8, 2018– Pleasanton, CA – Growth Factors, a unique investing and business strategy firm that helps companies escape “The Grind”, launched today and unveiled its first three investments. The firm’s strategy is to take majority ownership in established companies with untapped potential to scale. By taking hands-on investing, strategy and even execution roles within portfolio companies, Mr. Chand and his partners leverage proven practices and tools to accurately measure business performance, identify opportunities for improvement, and drive efficiencies, profit, and scale.
“As a successful entrepreneur and business owner, I understand the challenges of building and growing a successful business,” said Prem Chand, CEO and Founder of Growth Factors. “There are many established companies that have great potential but fail to achieve it. The founders of these organizations are often working long hours to meet the needs of customers, employees, partners and suppliers, and don’t have enough time or resources to strategically build the business. I call this “The Grind.”
Defining “The Grind”
The U.S. Small Business Administration reports that more than 50% of Americans either work for or own a small business (less than 500 employees). And, two out of three new jobs are created by small businesses each year. But owning a small business is taxing, on even the most energetic founders. The SBA also reports that two-thirds of small business owners and leaders are personally responsible for three or more of the key areas in their business: operations, finance, sales, marketing, HR, customer service, product development, HR and IT. Even more challenging, 56% of SMB owners are responsible for four or more key functions. It’s also not surprising that SMB teams are spending 23% of their time on manual tasks that could be automated or streamlined with better business systems, taking time away from strategic projects that create growth. And virtually all SMB founders report that the most challenging part of leading the business is finding the right talent to capitalize on growth opportunities.
“In my experience, running a business often consumes every minute of the day,” continued Prem. “There is little time to strategically plan where to make investments, where to add resources, and how to build business systems and financial strategies. So, every day, business owners and leaders do the same things to try to manage the deluge of issues, and are never able to overcome the barriers that keep them from achieving scale. This is truly a grind, and represents huge lost opportunity. This is what Growth Factors was built to address.”
Growth Factors Breaks Through the Grind with Four Cornerstone Practices
The firm has defined four key areas that receive detailed focus to transform businesses and help them scale.
- A high-performance culturethat is built on collaboration, empowerment and trust.
- Data-driven business systemsthat provide the unvarnished truth about how your business is performing.
- Strong financial strategies, accurate accounting and processes.
- Go-to-market strategiesthat establish brand, differentiate from the competition, and drive sales.
These cornerstone practices are each led by seasoned professionals, with proven skills and real-world experience that can be applied to each company in the portfolio. These professionals, under the leadership of Prem, provide and integrated system of growth. The firm prides itself on the ability to help companies think about their business in new, creative and productive ways. Growth Factors works with founders, owners and employees to establish measurable Key Performance Indicators (KPI) across the business. Then, using actual performance data, the works together to drive growth and scale in each area of the business.
Phil Segundo, Co-founder of Advantage Metal Parts stated: “By working with Prem and Growth Factors, we were able to identify several areas of the business that weren’t operating as efficiently or as productively as possible. As founders, we were struggling to stay on top of customer requirements, supplier and partner relationships, and managing a team of dedicated employees. We had a hard time prioritizing investments or resource expenditures. Now, with an established mission, vision and values, we have built a high-performance culture that is focused on meeting key performance indicators (KPIs) and measuring our success together.”
About Growth Factors
Growth Factors is a private investment and management company that provides the financial resources, strategies and tools that enable companies break through barriers and achieve scale. Founded by successful Silicon Valley Entrepreneur, Prem Chand, the firm is comprised of a team of seasoned professionals who have started businesses, navigated market challenges, and led companies to successful exits. Growth Factors works with business owners, leaders and teams to align and focus every aspect of the business on growth. Working with Growth Factors, companies build a high-performance culture with effective leadership, productive go-to-market strategies, customer-focused sales, data-driven operations, and scalable business systems. For more information, visit the Growth Factors website.