| Second thought! Just in case. YOU or someone you | | | | services RETIRE. Management |
| personally | | | | gets promoted to a new location. Offices consolidate. |
| know may fit the following picture of success which | | | | DOWNsize. UPsize. Go out of business! Bankrupt yet |
| may carry | | | | still |
| too much risk for comfort.You can sit back and simply | | | | oweing you money that will never come.Most of the |
| enjoy the day. Let tomorrow | | | | above happened! Our "connection" moved. I |
| take care of itself. Can't you just hear it? I've got my | | | | had no idea the company was going to suddenly NO |
| money "salted" away in a safe place. Getting great | | | | LONGER |
| returns. | | | | need our services.It's happening around us every day. |
| No risk! Where? I'm invested in the firms of | | | | Technology! Yesterday |
| the future..... remember the bubble that burst?YOUR | | | | is gone -- history. New ways of doing business. |
| BUSINESSObviously, you get the point. There is little | | | | Automation. |
| need to bash | | | | Push-button society. Home based workers.In a |
| the failures. Our goal is YOUR business. Your | | | | FLASH! ONE day! Our business (95%) was gone. We |
| future expansions for growth.EXPERIENCE is an | | | | had |
| expensive teacher. There are BETTER | | | | NO warning at all before the doors shut in our |
| resources. Some of us have learned in the School of | | | | face.WHAT COULD HAVE HAPPENED?To capsule, |
| Hard | | | | we were able to use the equipment in our other |
| Knocks. At least YOU can benefit by knowing some | | | | businesses. Our lease on the space had NOT been |
| of our | | | | renewed. |
| mistakes which we freely expose for your | | | | Our own staff was transferred within. We lucked |
| perusal.Yes, most of our mistakes were NOT smart. | | | | out!!However, I "shudder" to think of the consequences |
| Could have | | | | that |
| been easily corrected. Most 'goofs' are so obvious | | | | could have forced most folks out of business.Had we |
| AFTER | | | | signed another 5-year lease, the cost would have |
| the fact it's embarassing to tell anyone.DIVERSITY Is | | | | exceeded our PROFIT for the prior 10 |
| KEY --Is that just a nice "sounding" word? Only to | | | | years.Equipment leases would still hang over our |
| those who | | | | heads. |
| FAIL to understand it's HUGE impact. SUDDENLY! | | | | Staff? Their jobs would have been gone in a |
| Almost | | | | flash.YOUR CHALLENGEStep back and look carefully |
| an Overnight kick.... your financial well being can be | | | | at your business risks. |
| GONE.Many of us have been there. All of our business | | | | Don't assume anything. Your "good old" boy network |
| LINKED to | | | | has |
| ONE account. Are you in that position now? I hear | | | | NO guarantees.Make DIVERSITY your #1 priority in |
| you loud | | | | 2005. Add new clients. |
| and clear. You are saying, "I'm making good money | | | | Add new products. Quickly reduce your RISK away |
| and | | | | from any controlling entity. Seek to make 10% a TOP |
| business is great. Why should I change?"If that is the | | | | line maximum |
| case, YOU are NOT in control. Unless you | | | | dependence on any one source of income.Large |
| have a service or product without equal or | | | | buyers have been known to absorb ALL of a major |
| competition, YOU | | | | manufacturer's production. As an astute business |
| are at risk. Simply ask... if my ONE customer or my | | | | executive, YOU can see the END in sight. Don't let it |
| major | | | | happen.Your customer now CONTROLS your |
| customer GOES AWAY tomorrow... what happens | | | | business. Profits are no |
| to my | | | | longer your decision. Expect the "squeeze" to |
| business?Are your equipment debts personally | | | | intensify!Too often, we can't see the forest for the |
| guaranteed? Is your | | | | trees. Same |
| home at risk? Do you have a long-term office | | | | experience happens to a small service business, |
| warehouse | | | | too.ACTION TIP: Best advice is simple. DIVERSIFY! |
| lease? Bank loans?OUR EXPERIENCEYes, I was | | | | Never allow |
| fortunate and survived. At the time, I had several | | | | ONE client to OWN your business. 10% is a good |
| businesses not dependent on each other. | | | | MAXIMUM for any |
| Regardless,the impact and surprise income loss was | | | | single buyer. Reduce YOUR risk. Add new clients or |
| real.For 10 years it was wonderful. Profits were | | | | new products as quickly as possible.Don Monteith |
| basically | | | | spent 32 years as co-owner of several franchises |
| guaranteed. A major Insurance company needed | | | | and a personnel/staffing business. Every year, his firm |
| "outside" | | | | placed hundreds of job candidates in their dream job. |
| typists. Large companies do strange things. | | | | Today, Don shares his business and career expertise |
| Head-count! | | | | through his newest websites on the Internet. Lots of |
| Move staff (human resource) cost to "service" | | | | FREE ideas - suggestions - ready for your perusal and |
| overhead expense.Situations change! Buyers of | | | | study. |