In my last column, I covered the importance of knowing your numbers as a way to grow your business and make it more profitable. We explored the closing ratio. This month, we’ll look at two other key performance indicators, customer lifetime value and customer churn rate. Customer lifetime value, or CLV, is sometimes referred to … Read more
The Bank of Tampa announced a significant change in its executive leadership in January, but the bank had been planting the seeds for succession long before the announcement hit the public. T. Corey Neil, a 19-year banking veteran at The Bank of Tampa, was named president and chief executive officer, with Bill West, previous CEO, … Read more
As Marcus Lemonis, the businessman and star of The Profit says, “If you don’t know your numbers, you don’t know your business.” Today, you will begin to know your business better. The Small business Administration states that only about 50% of small businesses make it to their fifth anniversary. There are several reasons for this, … Read more
Dixon Hughes Goodman, an accounting firm based in Charlotte, North Carolina but with a presence in Tampa Bay, has announced it will merge with BKD CPAs & Advisors. The merger of the two firms creates a national top-ten firm that will have a combined $1.4 billion in revenue, a statement said. Tom Watson, current chief … Read more
Sales has traditionally been an intuition-driven profession: “What’s in your pipeline? What do you think is going to close?” But these days, that approach puts companies and organizations at a major competitive disadvantage. In this data-driven era, sales leaders need to make decisions in response to real-world market changes, up-to-date assessments of the marketplace, accurate … Read more
“I asked Wharton students what they thought the average American worker makes per year and 25% of them thought it was over six figures. One of them thought it was $800,000. Really not sure what to make of this (The real number is $45,000),” tweeted Nina Strohminger, a professor of legal studies and business ethics … Read more
HealthAxis, a Tampa-based administrative processing services company for health care payers and organizations, received a growth investment from Revelstoke Capital Partners. McGuireWoods acted as legal counsel to Revelstoke. Shumaker, Loop & Kendrick acted as legal advisors to HealthAxis. The terms of the transaction were not disclosed. “HealthAxis and Revelstoke understand there is an urgent need … Read more
Tampa Bay Business and Wealth reached out to leaders in their respective industries to see what trends they are seeing and what they mean. Here’s what they had to say. BANKING & FINANCE By Chris Nichols, director of capital markets, SouthState Bank It’s never been harder to be in the economic forecasting business than it … Read more
Kevin Shukur has been named West Florida Market president for First American Bank. Effective immediately, Shukur will lead the West Florida corporate banking team and provide full-service banking from the bank’s Tampa headquarters. Most recently, Shukur headed up BBVA USA’s West Florida Market, having founded it in 2013. BBVA was recently acquired by PNC. “I … Read more
By Sarah Schelling Peet, Vice President, Senior Trust Officer, The Bank of Tampa It is impossible to predict the future, no matter how hard we try. Two years ago, I would never have guessed we would be weathering a global pandemic and all that has occurred as a result. But, professionally, thinking about and planning … Read more
