The Art of Small Business Survival
by
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Prelude
The most important phase of a business turnaround is to work out a plan back to a successful road. Planning a good and sound direction is the first step. Every facet of your business must be included to effect this project to working out the problems and to come up with solutions.
Counteracting fear, one must have self-assurance. Building resistance and keeping level-headed will bring on the stamina to put all your faculties together to work up a plan for survival. When you are faced with the dilemma of a backward trend, get on the defensive and reach furiously for something to hold. You must immediately execute and administer a method to proceed and steady your company in an appropriate path to get things back to normal and forthright. Small business has its many ups and downs -- and those who understand and work out the setbacks become the survivors. Every crisis and each predicament should have a scheme to overcome an adverse situation. Likewise, ideas for progress must be well thought out. In fact, no move should begin without first developing the entire procedure.
In order to put together an effective work plan in a declining business, you must examine the problem and act in an aggressive manner to overcome these obstacles. Do not rush this process, and prepare updated information of sales figures, expenses and evaluation of personnel in order to make appropriate and timely decisions. Be extremely thorough in making your deliberations, followed by action. Organize your people to participate in this project; delegate their responsibilities; and impress on them the importance of a profitable business and their integral part to make it a success.
In re-evaluating your overall business, the entire structure must be re-examined, putting strong emphasis on cutbacks, unprofitable areas and obsolete and costly departments.
You cannot afford to have a long term process. You must set up stages and strive to make each step successful. As you struggle and work out each part of the proposal, progress will ultimately prevail.
Do not hesitate to recreate your organization by changing job duties and responsibilities and even elimination of positions and non-productive employees. Rebuilding could require bringing in outsiders to turn the company around.
Clear and explicit direction must be given to the personnel responsible to meet the survival needs and it is imperative to determine a practice of scrutinizing all reports and results of each department.
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About the Book
The Art of Small Business Survival
It focuses on understanding yourself in the "hour" of crisis, how to remain composed and productive, how to cope with both the routine and unusual trials and tribulations, and how to foresee creating new horizons in your venture based on innovative ideas and actions.
The author touches on his ups and downs in his 38 years in business. He also writes about battling competition, merchandising, creditors, bankers, landlords, customers, employees, family sacrifices -- and much more in the never-ending struggle to keep a successful venture going, and to guard constantly against downfalls.
The Art of Small Business Survival covers the areas of possible operations and financial disappointment to the opportunity for the retention of your faltering business and find the road to recovery and the path to success.
About the Author
Leon Albin was born in Baltimore, Maryland. After serving in the U.S. Navy during World War II, he attended and graduated from the University of Baltimore with a Bachelor of Science Degree in Marketing. Starting with a small family store in 1951, he expanded through 38 years in retailing to 17 surplus stores - specializing in the outdoor field in camping, fishing, and hunting. Then he made another transition more conducive to the merchandising trend of sporting goods. Following his business years, Leon Albin was elected to and served eight years in the Maryland House of Delegates. In the legislative body, he quickly became known as a strong advocate for small business, and as a member of the House Economic Matters Committee, he helped set policy and regulated legislation and laws on insurance, business, and real estate. After his legislative pursuit, Leon started a new career as a licensed realtor, specializing in the commercial field selling retail businesses. Leon Albin's entire life was consumed with business, which gave him the interest and desire to write The Art of Small Business Survival.