NEVER WORKED HARDER FOR SO LITTLE – Isn’t it a great opportunity?

We had an interesting conversation at one of our Alternative Board Meetings this past week. All 6 business owners and I agreed that we have never worked so hard for so little monetary reward. Is this all bad? Not at all. It is teaching us how to run better businesses, and developing new skill sets or improving on old ones. For example, many businesses in the Phoenix area relied solely on referrals. CPA’s, lawyers, and a whole host of professional services never had to look for business. The market has changed, and the ones that are learning how to develop business rather than wait for it to come to their door will survive. Another example is how much has been learned about cash management and cash flow. Small businesses never really worried about this aspect of business as long as sales were coming in, it hid all the mismanagement in cash. Monthly profit and loss statements were never looked at. We had some business owners, that could not tell you were their bottom line was in previous years. Now everyone is looking daily at their cash and trying to project forward. These are lessons learned that will never be forgotten after this economy turns around. At our monthly “think tank” meetings we discuss these and many other tactics to supporting each others business. If you are interested, please do not hesitate to contact me. Allan Himmelstein allanh@tab-eastvalley.com 480-656-3565