I met once with a small business owner in the apparel business. His business was just a couple of years old, and it had yet to turn a profit. While there had been some good organic growth, the growth hadn’t been fast enough. He had been forced to put lots of money into the business that year, and he felt it was time to make a decision. He said his options were:   (1) Make the additional effort to add customers to get to the point where it’s breaking even,   (2) Add new products that would incr... [continue reading]

Most companies are facing trying times right now. Revenues have dropped suddenly and dramatically, and they certainly will stay at reduced levels for at least a short time, but maybe for longer. Companies are having to make decisions about cutting staff, reducing inventory, and reducing expenses. For most companies, these decisions are difficult to make because it’s not often we suddenly find ourselves in these very difficult situations – think 9/11 or the Great Recession. Most of us just aren’t prepared... [continue reading]

I met with a small business owner this week. He’s in the apparel business. His business is just a couple of years old, and it has yet to turn a profit. While there has been some organic growth, the growth hasn’t been fast enough. He has been forced to put lots of money into the business this year, and he feels it’s time to make a decision. He says his options are: (1) make the additional effort to add customers to get to the point where it’s breaking even, (2) add new products that will increase sales to... [continue reading]

So, what are the benefits of doing a business projection? Why is it a good idea for you to do one? Alan Lakein once said, “Planning is bringing the future into the present so that you can do something about it now.” So a business projection will help you see into the future, evaluate your decisions, and take action now -- because sooner is always better than later. Here are some of the real benefits of a business projection: * Planning helps you see your options (what-ifs) and determin... [continue reading]


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