I have been preaching the fact that business needs to manage its way through these tough times and I have also phrased this economic downturn as tough times rather than bad times.
Why? Because of all the things I have been able to learn over the years is that the U.S. economy or any economy, is cyclical. Anything for that matter is cyclical; rather what comes up must come down.
In the case of this recession or economic slowdown, I have been listening and helping business owners grasp a better way of managing their businesses where their success is important to our economic recovery.
In the last four days, I have received unsolicited emails from my clients where they are touting better than expected sales as well as better than expected profits from their business. One has even highlighted the fact that his sales are down from this time last year, but his profitability is up.
How is that possible? It actually is possible, that’s what we do.
So now we have this pretty impressive speech from the President last night as well as comments from Federal Reserve Chairman Ben Bernanke, stating that this recession will end by the end of 2009 and full economic recovery will take another two to three years.
President Barack Obama made significant promises in last night’s address to Congress where we should now feel more confident about this recession ending by the end of the year.
I feel just a confident about the tide changing. The big question is, are you and your business ready to take the place of those businesses who didn’t heed the warning to get organized, manage costs and develop better processes?
As I have written many blogs and articles regarding this economy and our responsibility in garnering help for our businesses, I feel it time that those businesses that have prepared and can move into the next level prepare to do so by the end of this year.
There are many vacant businesses out there that did not plan and therefore have unfortunately become a victim of this economy, but for those businesses who have prepared, now is the time to plan to make a move.
Can a business actually have negative annual sales but still generate profit as some of my clients have? Yes, a business can do that. That is where our skill at Operational Accounting Consulting comes into play.
Good luck everyone,