Financial Turmoil - Monday Morning Memoir 10/20/08
I’m sorry it’s been so long since I last wrote. The last few weeks have been filled with market turmoil and internal growth struggles. As the Presidential race heats up it appears as though the markets will take their time recovering. The crash of ‘08 will be felt for a long time. Frankly, I have been hearing a lot about changing life styles since everyones 401K is worth 40% less. It’s amazing how bloated our life styles can get and what we really need. Since I can’t say, “this is what we did through the last recession”, I can only say don’t listen to the noise and cut back as much as possible to make ends meet. Get rid of as much debt as possible and put your cash in a safe place i.e. a bank or Gov’t bonds. In regard to the growth pains, I am continuously amazed at how some space between management and sales can help grow your revenue stream. When we were very small, about 10 people, we micro managed every aspect of the sales process. Maybe it helped us understand our clients better and helped refine the sales process quickly but it sure hampered their performance. At this time, we are finding better success allowing leaders to emerge and push each other on the sales floor. Since the motivation is coming from within the sales team it’s much more effective. It’s evident that the team feels more empowered to achieve their goals and when the goals are achieved they are more proud of themselves that they accomplished it.
November 19th, 2008 at 9:25 am
We can only hope that our new president will follow through on his promises of healthcare reform and help us save some money. As a webmaster for a group healthcare and fininacial products broker in Dade and Broward couunties in South Florida, I see just how much the costs of care have risen here due to the heavy population of retirees and their needs for prescription drugs and just plain general health pictures. I am approaching retirement myself and have no desire to have to spend my hard earned annuities or IRA and 401K that I have saved as part of my retirement planning on healthcare insurance! Car pooling can help save a little, but healthcare reform would save me a whole lot more.
Jean Drogus
http://www.securefloridian.com
January 9th, 2009 at 9:36 pm
Want the latest on Franchise and business financing? Check out the blog entry on http://www.mrfranchiseman.com regarding the opinions of a dozen financiers. Everything has tightened up; you need more cash, seller financing, better credit, good cash flow and more…
mrfranchiseman