My guess is that you know someone with a story like this…
Everything seemed rosy.
Business was humming along, money being made, the future looking bright…
And wham!
All of a sudden the whole thing is tanking, and before long, the business is DEAD.
Do Not Let This Happen To You…
Watch the video now.
servio says
February 23, 2013 at 4:35 pmPaul this is great video do you have any videos for sale .
Paul thanks
ADUNNI says
February 21, 2013 at 11:33 amThis is very educative. One need to take to your advice, Paul.Thanks
Sadao says
February 20, 2013 at 2:40 pmThank you very much for the valuable insights.
Kevin says
February 20, 2013 at 2:30 pmGreat stuff. Thanks, Paul. I really like this kind of proactive thinking…I’m so used to just reacting to things in my business that I’ve neglected to consider many of the ‘what ifs’ you mentioned in the video. You’ve definitely put at least two things on my radar that I should be paying more attention to going forward. An ounce of prevention is definitely worth a pound of cure. Thanks.
Ted says
February 20, 2013 at 11:02 amPowerful stuff Paul.
you are right… most business owners don’t want to deal with the 3 basic issues that you present toward the end of your video. The majority of small business owners I’ve met don’t consider tracking all 3 metrics even in good times. They tend to be quite stubborn and believe in their existing products as they watch the CM shrink before their baffled eyes.
I am not convinced that 6 months of operating cash is mandatory given that lines of credit can offer potential growth via innovation and production which could potentially propel a business into the next decade as margins from existing product lines start hacking away at CM. One thing I believe many small businesses are struggling with is reach. They are not getting enough QUALIFIED leads… and without those leads which you refer to as ongoing marketing… the scenario you mention plays out like an Italian opera. What if there were a way to ensure that small business owners (a) knew what to track (b) what tools to use and (c) what processes to follow to avoid the fat lady’s finale?