Financial foundations: The building blocks of future growth

Four cornerstones every business needs to support a successful expansion strategy.

Download the Purple Paper PDF about financial foundations.

“We can help clients unlock the priorities they should be focusing on and provide tools and solutions to help kick-start their growth.”

Joseph Rheaves

Market President, Truist Commercial

4 cornerstones that lend stability to your growth plan

Find your competitive advantage.

  • Analyze yourself and your competitors thoroughly.
  • Pinpoint where you are in the business lifecycle.
  • Look for market gaps your competitors aren’t filling.

Observe what drives growth in your industry.

  • Understand the dynamics that influence how you grow.
  • Stay on top of emerging trends and seize opportunities.
  • Work with a financial partner immersed in your industry.

Lock down your balance sheet.

  • Build cash reserves and optimize your conversion cycle.
  • Maintain inventory and diversify revenue streams.
  • Control expenses and set a growth budget.

Make your operations scalable.

  • Plan to balance growth opportunities with needed capabilities.
  • Use internal processes to measure your success.
  • Cross-train teams to strengthen customer service.

What type of growth matches your risk tolerance?

Some types of organic growth carry more risk than others. Here are four common growth strategies, ranked by risk.

Market penetration

Low risk
Selling more existing products in current markets.
Product development

Medium risk
Creating new products for existing markets.
Market development

Medium risk
Taking existing products into new markets.
Diversification

Medium risk
Developing new products for new markets.

Automation can optimize your cash conversion cycle.

Many of our clients use automated payables and receivables to collect and disburse payments simply, quickly, and safely.

  • Pinpoint when and how you pay vendors to maximize the use of available funds and reduce overdraft risk.
  • Eliminate delays due to check production and mail delivery to reduce the number of days sales are outstanding.

“Growth means generating revenue. Being able to accept payments and get paid for what you’re doing is a key part of that.”

Chris Ward

Head of Enterprise Payments, Truist

Don’t let fraud derail your growth plans.

Digital payment solutions with built-in fraud protection, plus ongoing fraud education, can help protect your company’s growth plan from the latest scams.

Avoid financial losses and other costs.

Preserve your company’s reputation.

Prevent operational disruptions.

Protect your company’s access to credit.

How Truist can help

Talk to your relationship manager about tools and solutions that can prepare you to take your business to the next level—from financing and budgeting to strategy support and industry insights.

Download (PDF) of our Financial Foundations Purple Paper.

Stay informed and get connected

Looking for fresh thinking and new insights to help uncover opportunities for your business needs?

Connect with a Relationship Manager

Work with a partner who sees your vision and has the resources to help you achieve it.     We’re ready to focus on the specific needs of your company—and where you are in your business lifecycle.

Existing Truist clients are encouraged to contact their relationship managers with inquiries related to commercial products and services.

Contact us

Helpful links

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Truist Business Lifecycle Advisory
Business Resource Center
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