How do you take a groundbreaking product, a righteous mission, killer branding, consumer buzz and astounding velocity—and still go out of business? Neglected finances. Run out of money and you perish, says Ed Rainey, financial analyst for Oakland-based Back to the Roots.
Rainey attributes Back to the Roots' operational success on transparency and communication within his team—everyone knows who's doing what with what, where every dollar goes, and what to do next. Careful accounting helps to keep their margins intact and leaves the company flexible to adapt to change.