SOOOOO much noise right now around the tariffs and the economy. With that noise comes uncertainty and fear. But most small businesses I talk to have seen it pick up in April from the first quarter (including me). More than that, you can not control the tariffs, so how do you run your business and life despite these things? Amidst all the noise and uncertainty? Here are some tips:
1.Avoid the noise! Look at your business now and see what is happening, not what CNBC is telling you to be afraid of….
2.Grow your sales! One simple method is this: look at your business, where is the actual business coming from? Not the noisy squeaky wheel, but the business that actually closes-where does it come from? Wherever that is, spend more time there. Eliminate sales efforts that show no fruit-EVEN IF YOU THINK THEY ARE GREAT-put pride aside and spend time and money where the business is actually coming from….
3.Cut costs. Always be looking to get lean and mean. If you run 10% profit margins, $1,000 saved is $10,000 in sales. That’s huge.
Cutting costs and growing sales are always key to business success. Don’t be fooled by the money in the bank….if you grew your debt $10,000 last month, then you are losing money. Do that long enough, and you get to a place where you can not recover. But if you even make $1 above your expenses (which includes your pay) each month, you will always be in business.
These things you can control, so do them. Avoid the noise and focus on what you can control. Don’t worry, God works all things for good. It will all work out….
Karen Schimpf
Commercial Capital, Ltd.
O: 512-358-1511
E: karen@ApplyCommercialLoans.com
w: www.linkedin.com/in/karenschimpf/
blog: http://bizloansconnections.com/
website: http://applycommercialloans.com
P.S. We have a 7.95% fixed rate SBA 7A loan right now for a limited time, even for business-only loans with no real estate. If you are looking to buy or expand your business, one call does it all…take advantage of our incredible range of financing options INCLUDING our own private money TODAY! Call at 512-358-1511.