Many of the business owners I'm talking to have seen a decrease in activity - people spending less and being even more careful about what they buy. We are bombarded by news stories that portray a nation in financial turmoil. Some of the people I talk to refuse to read the paper or watch the news on TV for that very reason. They want to see some good news. Is your glass half full or half empty?
For those of us who have lived through the economic slowdowns of the past, who have been unemployed, we know that this too will pass. It's part of the constant ebb and flow of economic cycles. But that doesn't make it easy.
Remember, it's not all doom and gloom. Sales of fuel- efficient cars is so strong that there is actually a shortage of some models. In the flood ravaged areas of Iowa realtors are active because there is a shortage of homes available for purchase. For people with cash in the bank, real estate and stocks can be purchased at sale prices.
As a business owner you always have choices. You can choose to sit around waiting for something good to happen, or you can take action to improve your results. The fall is an ideal time to do just that. The kids are back in school. Families have new routines and people spend their time in new ways. Now is a great time to get back to work on your business and prepare for the coming year.
Spend some time reviewing your results to date. Look at your sales. Where did your revenue come from? What services or products did your customers buy and why? Look at your customers. Who were they and why did they choose to do business with you? Look at your expenses. Are they reasonable and appropriate? The object, of course, is to determine what's working and what's not. Based on that information you can adjust the mix of products and services, address your expenses, revise your marketing plan (you do have a marketing plan, right?) and get ready to grow your business as we move into the new year. You might not be in school, but you still have homework to do.
Half Full or Half Empty? - To learn more about this author, visit Dave Ferguson's Website.
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Accessible Business Consultants
Dave Turkin, President, of Accessible Business Consultants is a full service business consultant that has over 32 years of experience working with small-medium size businesses. Dave has designed and implemented numerous business and marketing plans, designed internal programs for accounting and operational procedures. He has analyzed businesses and prepared strategic plans setting budgets for growth, expansion and business restructuring.
He currently sits on the Board of Directors of various corporations as an advisor. For many years he has been the Business Coach to many executives offering advice and guidance from old and established companies as well as new companies just getting started.
Dave has the ability to analyze a business quickly and get a strong indication as to the necessary steps to improve operations, productivity and profitability. - Visit Accessible Business Consultants's Website |
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Dave Ferguson
(Visit Dave's Website)
Dave Ferguson works with people in
business - owners, executives. managers,
sales teams and commissioned professionals
- to help them to improve their
performance and results. With a background
in corporate operations, working for
companies large and small and coaching
people for 20 years, he knows how to help
his clients confront real-world business
challenges.
He helps people to work smarter, not
harder; to be more effective, focused, and
strategic in their approach - to turn
their dreams into goals, goals into plans,
and then take the actions necessary to
implement those plans and reach their
goals. Through his workshops, his website,
www.LakeCountyBusinessCoaching.com,
his published articles and his
complementary monthly newsletter he
provides valuable tools and tips for
improving your results.
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