Plain & Simple: Bright Business Insights Vol. 11 ReaAssociates_Newsletter_Winter2023-Plain and Simple

PLAIN AND SIMPLE Bright Business Insights

Vol . 9 | Issue 4 | Winter 2023
Dear Readers ,
It ’ s hard to believe that we are less than two months away from 2024 . We hope you have a great Christmas season and wish you a prosperous and healthy New Year . As you gear up for business in 2024 , look at recent history to understand the changes and challenges businesses have continued to face : Infla tion , rising interest rates , the threat of recession , and global instability . That will contin ue in 2024 and beyond but companies are in a stronger position to handle these changes and adapt quickly . Each edition I like to end with a quote to is relevant to business : “ The road to success and greatness is always paved with consistent hard work . Outwork your competitors and be relentless .” – Unknown . Lastly , “ Success is not final , failure is not fatal : It is the courage to continue that counts .” – Winston Churchill .
In this edition , we dive into the crucial topic of employee retention . Understanding the value of each individual in our work community , we explore effective strategies to foster a supportive and enriching work environment . This not only nurtures our employees ’ growth but also strengthens the fabric of our businesses .
Another pivotal subject we address is harnessing the power of debt in manufacturing . While debt can often seem daunting , we shed light on how it can be a tool for growth and development when managed wisely and aligned with our community values . This includes practical advice on keeping a balance that respects our business ambitions and our commitment to financial prudence .
Succession planning is a cornerstone for any family business , particularly in our Amish community . We delve into how to ensure a smooth transition that honors the legacy of the past while embracing the promise of the future .
A special feature of this newsletter is the client spotlight on Flextur , a testament to the innovative spirit and resilience in our community . Their story is one of adaptation , growth , and success , embodying the principles that we hold dear in our business practices .
As we look towards the end of another year , it ’ s crucial to remember the strength we draw from our community and shared values . These articles aim to provide not just information , but also inspiration and guidance as we navigate the complexities of the modern business world while staying true to our roots .
We hope this newsletter finds you well and serves as a valuable resource as you continue to grow and thrive in your endeavors . We wish you a fruitful season ahead .
Ryan Brickwood , CMA
Principal , Director of Manufacturing Services
Rea & Associates 230 North Market St . Wooster , OH 44691 ryan . brickwood @ reacpa . com ( 330 ) 264 – 0791