Manage Your Business in Difficult Times

The primary objective of any business is to achieve maximum profitability and productivity. Even knowing this, it’s alarming how many business owners get into trouble with managing and marketing their business when something goes wrong. Preparing for a rainy day requires sacrifices (at first) that will pay off in the long run.

“Circumstances may cause interruptions and delays, but never lose sight of your goal. Prepare yourself in every way you can by increasing your knowledge and adding to your experience, so that you can make the most of opportunity when it occurs.” ~ Mario Andretti (Auto Racer)

One of the challenges of running your own business is all the different hats you have to wear. It’s your responsibility to manage and market your business, and if you do not do it personally, there should be systems and processes in place to get things done.

If managing your business is killing your productivity & profitability, then make sure you have an active business plan that keeps you focused to maximize your business potential. The business plan is the heart and soul of your company and the platform from which decisions must be made — such as human resources, marketing, finance, products/services, client service, etc. Free sample business plans can be found at www.bplans.com/sample_business_plans.cfm.

Proper business management starts with these important steps aimed to increase revenue and decrease overwhelm (during good and bad times).

1. Get & Stay Organized — Organization is the key to being able to properly manage your business. Disorganization leads to wasted time. Make the process of managing your business/clients and selling your products/services less frighten by effectively managing your time and staying organized.
2. Maximize the Clients You Have — Make the downtime period a time to communicate value and increase sales with existing clients because not all of your clients suffer during recession. It is much easier to focus your marketing efforts to clients you are already building a relationship with.
3. Increase Brand Awareness — Know your USP (unique selling proposition) and find new advertising opportunity to increase brand awareness. Use every opportunity to create additional demand for your product/service offerings. The ultimate goal is to ignite an emotional connection of loyalty to a specific product/service from clients.
4. Trim Your Marketing Budget — Avoid marketing methods that produces minimal results. Trimming your advertising cost during difficult times will give less of a return than during an economic boon but your profit margin won’t plummet. Instead, think about low-to-no-cost marketing – like free publicity in the local newspaper. Every advertising dollars saved, is more profit you will earn. For instance, calculate how much you are spending as most businesses can cut this amount in half by allowing some flexibility in the budget. You will find that you can actually build a healthier business on a slimmer budget.
5. Consider Hiring Professional Help — If you are overwhelmed in your business, then stop trying to do it all by yourself. It is a difficult task to survive and grow your business solely with your own efforts. Beware of the pitfall of trying to do too much on your own because there are other professionals (such as a coach for professional development or virtual assistant for admin. tasks) to help you save time and money to grow your business.

The business world belongs to those with a step-by-step plan of action for growth. Using these five easy steps will help your business survive and generate a sustainable profit. A well-managed business will transform challenges (such as the economy) into opportunities by creating new methods of doing business that weren’t considered during good times – but is necessary for maximum success.

About the Author: Althea Francis is a Certified Life Coach & Business Strategist at MITCEY.com, a coaching and freelancing company that helps small business owners to manage and market their company. Althea works personally with clients to deliver business strategies that fit their personality, goals, and work-style to achieve maximum results. Her passion is to empower freedom in business and life by leveraging the power of the internet to increase revenue and decrease overwhelm. She is available by e-mail at althea@mitcey.com or by phone at 416-725-0598. Visit her website: www.mitcey.com to learn more and sign-up for the free success newsletter, “Passion Needs ACTION”.

Take care of your most important asset…YOU!

I was extremely sick the other day, the recovery process was slow and Mary Fenuta of Passionately Inspired Solutions Inc. was kind enough to share her strategies for us to stay healthy in order to pursue our passion –  it also inspired me write an article “Manage Your Business in Difficult Times”. Below is her expert advice to inspire you to take care of your most important asset … YOU!

Mary E. Fenuta, C.P.P., C.P.M. wrote:
I truly believe in doing everything as natural as possible, so here are my tips for cures to build up the immune system:

• Prior to your meals (15 minutes) Start with building your ‘good’ intestinal flora with a well recommended probiotic/acidophilus  (there are many on the market, but if you like the taste of yogurt, BIOK+ can be found in the refrigerated section of the health food side of Loblaws, Fortino’s, Zehrs, Metro

• With your meals take high dosages of vitamin C (good health store quality, approximately 5,000 mgs for 3-4 days—only side affect is a runny stool…then back down on the dosage slightly

• With your meals take oregano oil (comes in gel format—the actual oil in the bottle is very powerful and can burn your tongue—but if you CAN handle it, the straight-up oil drops are the best—you can mix a few drops with a little water and swallow…trust me, this will clear your sinuses fast).  Oregano oil is great for clearing bad bacteria or Candida (fungus) from our bodies—we all have this

• Eat lots of oranges at the same time….fibre side of the vitamin C is great for you

• Take Echinacea tea (Traditional Medicine Brand Teas is great)  with honey for a soar throat/taste –fresh ginger and cinnamon stick included while steeping the tea

• Think positively about the experience.  Love this experience and do not resist it.  You know what they say…(What you resist, will persist!)  Say positive affirmations such as:
  • “I allow my mind to relax and be at peace.  Clarity and harmony are within me and around me.  All is well!”
  • “I choose to allow all my experiences to be joyous and loving…this cold included”

Take time and schedule some rest,  our bodies tell us when we have been forgetting to do so.

Inspirationally yours,

Mary E. Fenuta, C.P.P., C.P.M.
CEO
Passionately Inspired Solutions Inc.
www.PassionatelyInspiredSolutions.com
647-233-2133

Organize Your Life Around Your Passion

When you live out your passions there are many things you need to do with your attitude and your life in order to be successful. You will be a more successful individual with life and your passions when you practice these things.

You can measure success any way that you want to. Success is not measured by money because anyone can make a lot of money. The goal is to make a lot of money by living out your passion. When you are working toward something you are extremely passionate about you will usually be fortunate enough to make some money. The important thing is that you can look back on your life and know you did everything you wanted to do and you have no regrets.

Organize your life around your passion. You have started a new job or passion that you want to be successful in. Start living the successful day that you have always dreamed of. For example, wake up early in the morning, brew coffee, read the paper, talk on your blog, and more. Organize your life to be useful time that is healthy for you. Plan your time with plenty of exercise and healthy decisions. Be sure you are getting enough sleep also. You will have to put in a lot of hours to be successful at first but you cannot lose sleep or you will have problems enjoying your passion. Working toward a passion means you get to sleep too. Proper organizing will allow you to be successful and more productive.

The Key to Your Success is in Your Hands!

You cannot do everything, but you can do something.

Only you can make it happen.
No one can do it for you.
No one will do it for you.

Always accept the responsibility for your actions.
Always set a higher standard for yourself.

Choose the thoughts and actions that will lead you on to success.

Your success is but a determined action away…
© Copyright 2007 www.yourdailymotivation.com – Nov. 19, 2007.