How are You Weathering the Storm?

We have now been in a down economy for some time and even though I am seeing positive indicators, it appears that it will be a while yet before things really take an upward swing. So while you may have taken steps initially to protect your business viability it takes diligent oversight of expense and cash flow to not only survive but to prepare for growth.

Things are happening fast in the business world. Credit card limits and lines of credit are being cut so a close examination of your projected cash flow for the next 6 to 12 months is essential. If the projection doesn't give you the outcome you need then it is time to look at taking additional steps.

If your business is an inventory business you need to closely monitor your product margin. Negotiate with your suppliers for lower pricing and/or better terms. Remember "cash is king". If you have inventory that isn't moving see if you can return it. Even if there is a restocking fee it is better to have the cash available rather than sitting on a shelf gathering dust.

Another use for that dusty inventory might be to use in a promotion. Marketing dollars are tight so use the dollars you have already spent to continue your marketing efforts. Create your promotion and offer it to your email database of current, past and prospective customers.

Examine all your expenses to make sure you aren't spending dollars needlessly. Having said that be ever mindful of the customer experience. Now is the time to nurture your current customer base. Don't cut in areas that erode ease of buying.

Hang in there and stay focused. We are seeing positive signs of improvement. Great success is ahead.

Most Small Businesses expect to grow in'09

I saw an article today in the Atlanta Business Chronicle that lifted my spirits. According to a survey conducted by Constant Contact Inc. 70 percent of small businesses anticipate moderate to significant growth in 2009 despite the recession. 47 percent of small businesses plan on hiring new employee.

Gail Goodman, CEO of Constant Contact said "The results of the survey reveal the optimism and perseverance that so often marks this spirited group of business owners, as well as their adaptability to meet current economic conditions".

I am seeing growth among my own clients '08 to '09. So let's get rid of the glass half empty and go with the glass half full.

Save Our Pets Foodbank

A friend of mine, Vanessa Lowry, owner of Connect 4 Leverage sent this to me and I wanted to pass it on to others. As Kathy and I are life long animal lovers I ask you to check this out.

The Save Our Pets Foodbank was started in 2008 and the organization has given away more than 30,000 lbs of pet food. SOPFB provides pet food to individuals who temporarily are facing financial challenges due to job loss or illness and can't afford to feed their pet. With more than 13 million jobs lost in the United States over the past year, budgets are tighter than ever. The cost to feed a pet creates a crisis during a financially difficult time and families may be forced into a decision to give up their beloved pet. Adding your Dad or a friend to the Good Dad Honor Roll helps keep a pet with its owner.

While Save Our Pets Foodbank is located in Atlanta, the organization has compiled a national list of food assistance programs and provides tips on starting a pet food bank. Find out more at www.saveourpetsfoodbank.org