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As a business owner, one of the worst things you can do in terms of finances is hurt your cash flow. A quick way to do that is by purchasing tools or resources that will not further the business. 

While R&D is a notable aspect of growth, large purchases that have not been financially assessed and linked to future growth do nothing but take money right out of your business's pocket. And if too much cash is allocated to non-necessities, you may find yourself needing to sell (or let go) of tools and resources that are beneficial to the business to fix cash flow problems. 

Business owners should stay diligent and remain consistently wary of each dollar they spend. Ask yourself, when I spend this dollar, how much will I get back because of it? 

Your consumers are not the same, so why are you?

Have you reassessed your target market and changed your strategy to accommodate the changing consumer behaviors this year has brought on?

Consumer behavior is evolving at rapid rates, and businesses that don't keep up could risk being left in the dust as they don't adjust offerings and messaging to fit changing consumer wants and needs. 

Have you taken the time to consider new "types" of consumers and popular spending habits that are emerging? Have you thought about whether any of them meet the criteria you're looking for in an ideal client? 

Even if you previously had a steady, well-defined target audience, it's critical to realize the changing wants and needs of consumers during this time. 

Skipping over this critical internal evaluation could mean that you're still attempting to serve consumers that are no longer aligned with your offerings. It could also mean missing out on a whole new audience that could benefit from your offerings, even if they previously did not. 

Ultimately as CFOs, one of the biggest mistakes we see business owners make is getting too comfortable. When your strategy is static, so is your growth. 

If you're looking for ways to improve your financial strategy, reach out to learn how one of our expert CFOs can help you restructure your business for growth."
Facts & Figures sourced from:


Cruise for one, anybody? 

At the beginning of September, it was announced that "Magellan," a former Carnival cruise ship, would become available for sale at an auction later this month. 

The ship — which was previously named "Holiday" before joining Cruise & Maritime Voyages' fleet in 2015 and taking the name "Magellan" — will be auctioned off alongside four other ships from Cruise & Maritime Voyages. The U.K.-based cruise line closed down earlier this year as a result of the Coronavirus. Magellan was on the seas in Carnival's cruise rotation from 1985-2010 before being transferred to Iberos Cruises (Carnival Corporation's subsidiary based in Spain), then sold to Cruise & Maritime Voyages in 2015. 

There is no pre-auction price currently listed, but recent estimates indicate that the ship will likely sell for millions. The vessel was previously on sale in 2018, listed for a selling price of $55M. But ultimately, the ship was not sold, remaining with Cruise & Maritime Voyages. 

It may be easiest to understand the potential for Magellan's future by taking a look at the ship's storied past. In 2014 it was used as a floating hotel at the Winter Olympics in Russia. And nearly a decade earlier it was used as one of three Carnival ships housing the thousands of homeless individuals left in the wake of Hurrican Katrina. 

Could it become an isolated hospital used to host COVID-19 patients? Could it reclaim its usage as a temporary home for a portion of the country's growing homeless population among COVID evictions? Or will it have a more simplistic future as a wealthy individual's own personal party boat? 

We'll have to wait until October 19th — the last day bids will be accepted — to find out. In the meantime, you can read more about Magellan's sale here


Does your business already have a CFO? Confused on how an outsourced CFO could support your in-house CFO and help grow your business? Let's talk!
Schedule a 15 Mintute Consultation

Imperial Advisory is a financial consulting firm that provides clients with outsourced-CFO services, consulting with owners and CEOs on a variety of business and finance issues. Our analytical and growth-focused team of expert CFOs will unlock valuable insights on the financial implications of your day-to-day business decisions. We also consult on strategic and long-term business planning.
Have a question about your business' financial strategy? Looking to learn more about how an outsourced-CFO can help grow your business in just a few hours each week? Contact us at for a complimentary conversation. 
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