So, his remedy was to sell the equipment at cost, donate it and do whatever he could to simply get rid of the equipment, thinking that he was reducing his costs. He bought a machine to resurface the machines. He hired someone to work on repairing the equipment. He hired someone to assess the equipment. He set up another company to sell it. He marketed it. I think he must have spent a ton of money…just trying to get rid of it! He still couldn’t get rid of it as fast as he was getting it in.

Well…that was a different way of looking at things.

So…he was losing money on this equipment that had little demand for the market that he served. This caused some cash flow problems and suddenly things like employee benefits, monthly meetings, etc., were a thing of the past. Office supplies and hiring enough temporary helpers became part of strained conversation.

He needed, desperately, to do something differently.

His current box said that he has to sell his product at a competitive price, provide excellent products and services, take trade-ins and scrape off enough money to pay his expenses.

A friend of his mentioned that he should try barter – buying and selling goods on trade. (I think that sometimes we forget that money is actually the standard of trade.) This sounded pretty simple, but how do you trade a large piece of equipment for something that would be of equal value.

It turns out that there are barter organizations that specialize in this. Ideally, one can trade goods and services they have that they just can’t sell at the full value for “Barter Dollars,” which can be used to purchase other goods and services, like dinner at restaurants, sporting event tickets, office supplies, marketing and consulting services, air flights, etc.

Think about his cash flow with this in mind. With it, he was able to make some major purchases that he simply would not have had the cash to do, cleaned out his warehouse, and was able to allot cash to areas that the business needed to focus on in order to grow.

So…if your box is getting to small, redefine it. Check out barter on the web.

At Aepiphanni Business Solutions, we are dedicated to serving the needs of small business owners. We specialize in helping you develop strategies for your organization, and are committed to your success. If you have further questions about creating your strategy or developing your vision, please give me, Rick Meekins, a call at 678-265-3908, or email us at info@aepiphanni.com.

Labels: Business Development Strategies, Business Growth Strategies, Business Startup, Recession Buster

Labels: Business Growth Strategies, Business Path

1) In a slow economy, smaller is usually better. This is good news for new entrepreneurs, who can begin a business with less trouble than established businesses can stay afloat. In general, recessions hit bigger businesses harder - they must often do damage control to keep their cash flow positive.

2) Technology is your friend. Not too long ago, businesses spent millions of dollars on travel with no other option available to negotiate deals, communicate with clients, or explore new opportunities. These days, as the price of gas reaches historic highs, travel is often no longer a viable business expense - in fact, as gas prices rise, it can be viewed as an increasing tax on those businesses that must rely on face-to-face contact. The good news is 21st century communications allow you to conduct business via e-mail, fax, IM, Internet, phone, cell phone, virtual meeting, message board (and the list goes on and on...).

3) Geography matters. Recent statistics show that while business might be currently slow in one area of the US, many other areas report maintained or even increased business. If you discover that you aren't reaching your goals in your current location, you should research other places to see how business is going.

4) Stay optimistic and realize that no one - no one - can accurately predict the future. It can be easy to fall into the trap of despair, especially when every cable news network forecasts gloom and doom for American industry. Still, the economy will change depending on factors that have not even been imagined yet. Stay optimistic, focus on only your business, and don't be drawn into a negative mindset. That way you'll be able to take advantage of business opportunities that others would only see as "sour grapes."

5) Your customers can tell you what you need to know. It seems simple, but everything you need to know about the economy that will affect your business can be learned by speaking to your customers. Listen carefully to your customers, and you'll be able to make the right moves for your business no matter what the US economic forecast.

At Aepiphanni Business Solutions, we are dedicated to serving the needs of small business owners. We specialize in helping you develop strategies for your organization, and are committed to your success. If you have further questions about creating your strategy or developing your vision, please give me, Rick Meekins, a call at 678-265-3908, or email us at info@aepiphanni.com.

Labels: Business Development Strategies, Business Growth Strategies, Recession Buster