WHEN THINGS SLOW DOWN BE SURE TO WORK "ON" YOUR BUSINESS

There is an old adage used in small business about time spent work "in" versus "on" your business. Most of the time we work "in" our businesses; producing products or providing services, doing the accounting, marketing, etc. In short, doing the job of our business. I like to remind many small businesses that they also need to spend time working "on" their business. This is time you spend planning and strategizing; looking at your strengths and weaknesses and finding ways to make things better. And with seasonality being a major factor for many small businesses, now may be a good time for you to spend some time working on your business.

If you decide to look at spending some time working on your business, the SBDC can help. We have a few tools you will find on our website, for starters. Maybe a "Well Business Checkup" is of interest. This is an interview where you answer questions involving the management and operation of your business, and helps identify things you might want to focus on to make your business better. You can download a copy of this interview by going to www.npcsbdc.com/downloads.html. There you will also find other management tools, such as business planning, financial analysis, valuation and many others.

And remember, we at the SBDC can help by rolling up our sleeves and working with you one-on-one to help. Our no-cost, confidential counseling service is available to assist you with your planning and strategizing, also. Call me at 928-532-6170 to make an appointment today!

1. IT TAKES A LOT OF MONEY TO FINANCE A NEW BUSINESS

Not true. The typical startup requires about $25,000 to get going. The successful entrepreneurs who don't believe the myth design their businesses to work with little cash. They borrow instead of paying for things. They rent instead of buy. And they turn fixed costs into variable costs by, say, paying people commissions instead of salaries.

In its annual report to the U.S. Small Business Administration, the Northland SBDC reported strong client results, We worked with clients throughout Navajo and Apache Counties and collected economic impact numbers as we worked with them providing direct assistance, and from a survey we did in the later part of the year. From this data, our clients achieved the following economic impact and/or growth: New or retained jobs - 149 Loans obtained - $3,782,000 Owners capital invested - $1,372,000 Other capital investment - $348,500 Increased revenues - $5,503,500 Successful Startup Businesses - 23

Sean Lyden, the CEO of Prestige Positioning (a service of The Professional Writing Firm Inc.), an Atlanta-based firm that "positions" clients as leading experts in their field-lists six things that any small business can do to find more time for marketing, and increase their chances of success. First, make marketing a priority. You must commit to making time for marketing--whether to attend networking events, put together a brochure and business card, research prospects on the Web, or writing a proposal. Without a strong commitment, you'll find yourself consistently putting off your marketing efforts, which could haunt you a month or two from now.