SCORE Small Business Blog

Managing: Tune Out Bad News & Tune Up Your Biz

It’s time for a hard look at your sales, expenses and net profit so far in 2008. With Less than 60 days until the end of the year–really think about what next year could bring.

Okay, everyone has maybe had enough of the general gloom and doom in the news. If you’ve tuned it out, then tune in to some of your own research. Is your industry growing or shrinking? What does that mean to your sales projects.

Act Now to Manage for Success in 2009

1. Call SCORE to find an office near you for a Small Business Check-up. Schedule a personal mentoring session. Get a free and confidential review of your business in 2008. Call 1-800/634-0245 or Find SCORE Online.

2. Do Some Research. Use Google search to find out general industry trends. If you’re in retail, how much is retail down right now? What sectors are doing better or worse. This is the news you need–specific to your industry with an impact on your business. If you see an industry holding steady, growing or contracting, your plans for 2009 should take that into account.

3. Tune up your business plan. Really take a hard look at sales projections and expenses. You can break the plan into quarters, this way you may plan revenue and expense based on slower sales earlier in the year and a pick-up in volume a little later in the year. It’s too late after the fact. Now, you have the chance to set budgets based on expectations–and that is the management tool that helps you in 2009.

-Christine Banning, SCORE
View more posts by Christine

For 50 years, SCORE has helped aspiring and current small business owners achieve their dreams. Through a network of over 11,000 volunteer business mentors in 340+ chapters across the country, SCORE connects decades of business experience and knowledge with those who can best use it. | Facebook | @SCOREmentors | More from SCORE

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