SubscribeSMALL BUSINESS LEADER May 2009
Small Business Leader
Marian Banker, MBA, Business Leadership Coach, and creator of the Business Success System.
"Business Fitness: Prerequisite to Growth" ISSUE #116
May, 2009
Note from Marian
Are any of the following true for you?
- Looking for capital to expand;
- Demands of the business are taking their toll on you personally;
- The business is making a profit but you know there's greater potential with the right strategy and marketing;
- Sales are good but cash flow is a problem;
- Need help writing a business plan;
- Would like to sell your business;
- Thinking about throwing in the towel --
(don't do it -- contact Prime Strategies instead).
These are the kinds of situations I help clients with every day. If you'd like to spend 30 minutes talking about any one of them (or anything else) you'll be happy to know I'm offering four open coaching sessions, on Friday, May 15th from 10 a.m. to 12 noon, EDT. Drop me an e-mail to schedule your time. I'm happy to help you focus and set priorities.
If you're looking for capital and finding it difficult to get a loan, you might want to read my blog post, Angel Investor Update, which is the summary from an educational meeting I attended last month. I learned some surprising statistics and strategies for being successful with angels.
And if you're looking to grow your business the May feature article, "Business Fitness: Prerequisite for Business Growth", reinforces the need to get your business in shape first and tells how to go about doing it.
This month our Brain Exchange Guest Expert is Ellen DePasquale, Software Revitalist, who will be telling us how to access valuable information we may not even know we had. Join us on Tuesday, May 19th, 6 - 8 p.m. EDT for "Six Sales Secrets Hiding in Your Accounting Software".
MarianLast month I attended a NYC Biznik party where one of the attendees, an illustrator and caricaturist, Joe Vissichelli, did this caricature in about 5 minutes. It was a varied group of about 50 entrepreneurs in a very ambient environment with plenty of wine and tasty tidbits. Lots of networking and some fun too.
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Marian Banker
Publisher
Small Business Leader
marian@primestrategies.com
http://primestrategies.com
One Page MarketingOne Page Marketing Plan
Everything you need to create a Marketing Plan specific and timely to your business. You'll be amazed at how easy it is when you know the exact steps to follow. It's more than an e-book; it's a "system"; based on the same take command principles used in all the Business Success System materials.
Read more...
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Success Tip
Innovation is how many small businesses are restructuring or adjusting to market conditions. The place to bring in innovation is at the Strategic level. That way it becomes part of the business' DNA. More here, http://budurl.com/gz66.
Events
Brain ExchangeBRAIN EXCHANGE ROUNDTABLE
Topic: "Six Sales Secrets Hiding in Your Accounting Software"
Date: Tuesday, May 19, 2009, 6:00 - 8:00 p.m. EDT
Location: City Space Suites at 817 Broadway, New York City.
The Roundtable is a great format for gaining new ideas, new resources and new connections. This month's guest expert is Ellen DePasquale, a recognized software expert, author and speaker. You'll learn how your accounting software is really a detailed customer database that can help create sales strategies to increase repeat sales. Questions comments and contributions are encouraged.
Register now to save your spot.
Feature Article
Business Fitness: Prerequisite to Growth
By Marian Banker
Everyone knows the value of physical fitness. It may be a struggle in the short term, but the medium and long term benefits are worth it. The same is true in business. If you want your business to grow make sure it is "fit" first. A fit business is sleek, strong, stable, flexible and attractive.
My thesis has always been that it's important to reach a state of business fitness as the foundation for future growth. You want to be able to answer "yes" to the following questions. If you can, your business is in a state of fitness and you are ready for growth.
Sleek
· Are you concentrating on the critical elements that determine the condition of your business - such as Gross and Net Revenues, Accounts Receivable, Inventory, Fixed and Variable Expenses, Unexpected Expenses, Cost per Unit Sold, Cash Flow, Net Profit/Loss, Cash Reserve or Debt?
· Have you clearly defined your market and targeted your marketing efforts to the most likely groups?
· Have you identified and eliminated all unnecessary expense?
· Is your inventory and/or accounts receivable as tight as possible?
Strong
· Are you consistently able to pay off debt?
· Is your cash reserve growing?
· Are your revenues and earnings increasing?
· Do you cut your losses early because you are closely monitoring results of action taken?
· Have you identified your strengths and are concentrating resources on them? Are you well supported in your areas of weakness?
Read more...
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Success Tip
Do you ever find yourself scrambling to find cash for quarterly estimated taxes?Create a separate savings account just for estimated taxes. Contribute 1/3 of the tax payment to this account each month. Transfer to checking when tax payment is due. Makes tax payment painless.
Business Success System Course
brainstormingWant your own Personal Roadmap to Business Success? Take Command of Your Business with the Prime Strategies Business Success System Course. Gain the confidence to make well-calculated strategic business decisions in spite of challenges and crossroads.
Included is a step-by-step guidebook, interactive tools to organize your thinking and your actions, plus coaching audios to support you as you take each step in the system. It's totally risk f*r*e*e because it comes with a 100% satisfaction *guarantee*. Learn more...
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Efficient Office Computing
Imagine if your software worked the way you wish it did. Well, it can. Let me modify your existing software by using its built-it tools so the options you need are at your fingertips and your redundant tasks are automated. Call - Ellen DePasquale
$25 buys a text ad up to 50 words in three issues of our popular monthly newsletter.
About The Publisher & Feedback
ABOUT THE PUBLISHER:
Marian Banker has been publishing Small Business Leader since January, 1999. Her focus is on bringing to the busy entrepreneur a quick look into the current world of small business from the perspective she's gained through coaching, consulting and training entrepreneurs in both service and product based businesses.
Marian offers individual coaching, business support groups, seminars and workshops on topics of critical interest to small business owners. Her monthly Lunchtime Telephone Roundtable has proven to be a popular way for business owners to come together around a specific business topic without leaving their office. See notice about this month's topic in the content above.
To learn more about her services, visit http://primestrategies.com.
FEEDBACK:
Your feedback is always appreciated. Please write to marian@primestrategies.com.
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COPYRIGHT 2009 SMALL BUSINESS LEADER
A publication of Prime Strategies, 333 East 23rd St., New York, NY 10010
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