Are you worried about cash flow in these uncertain times.

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Permalink Reply by Barb Sibbing ~ Add Me as a Friend! on October 23, 2008 at 8:40am

Not really, I keep sharing my companies opportunity with people, contact the leads that keep coming in. Things are going good.

Thanks

Barb Sibbing

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Permalink Reply by Lee Woods - "BIZ BUD" on October 24, 2008 at 5:02pm

Michael,

I'm lucky because my company is home based and my business doesn't really have much overhead. But overall business has slowed.


Biz Bud

Lee Woods
www.accuratetalent.com

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Permalink Reply by Michael Taplin on October 24, 2008 at 6:15pm

There is no doubt that low overheads are the key to managing risk in uncertain times. The lower your fixed costs the lower your break even income. Home based business is a good way to keep your fixed costs down, and if business slows you just have to tighten your belt and ride it out.
My focus in this post was on the contracting business with a few employees and fixed commitments to leases of equipment or subscriptions to software. Redundancy for employees is an expensive option long term because your investment in them is lost, and you will incur more cost when business picks up. Their dependence on you makes the decision difficult.
In a business downturn, the critical issue is how you respond to it. Simply increasing the marketing effort may not generate more business, if there is no business out there to win. A good sales forecasting system is needed to maintain the support of your banker etc. You can get one as a free whitepaper at bizlearn.biz. My gift to you.
I have also noted a big increase in free downloads of my XL model for costing labour turnover recently. You can get this at www.jobsinrodney.co.nz>employer services.
I hope this helps some members to deal with their reality because I know it is getting tough out there, and a different approach is needed. Good wishes. I am here to help.

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Permalink Reply by Laila on July 4, 2009 at 5:10pm

My cash flow is great, but when we were out on the town last night, we noticed yet another business has closed it's doors after many years. It is sad that businesses that have been told to operate on the plentiful credit available are now being crunched by the banks that got them hooked.

Remember, a bank is an institution that will loan you an umbrella in fair weather, and if it starts to rain, they'll ask for it back.

Laila
www.greenMOMteam.com

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