Helping Small Business Owners bridge skills gaps and become more profitable

Over the last 18-24 months the economy across the globe has collapsed around the banking system failure. There is a lack of liquidity in the system especially in the small business sector and companies are focusing more on saving rather than investing money . The subject of this survival guide is not an examination of the current state of play, but practical and results-driven advice on how as small companies we can focus on the right things, focus where the money is and ensure the survival of our companies in the medium- to long-term. For many small companies the changes that have happened on the playing field during this time have placed a significant strain on our companies as revenues have dropped, customers seek better value for money and delay purchasing what are perceived as non-essential items. The skills, as small and medium sized businesses, which we relied on during the boom years are not the ones that will now ensure our survival. Many owner/managers in the small business sector are experiencing significant gaps in their skill sets with this changed environment and as a result are finding themselves dragged out of their comport zones in order to deal with issues and problems that will realign their companies and increase revenue and bottom-line profits. So what can we do in order to change the situation to our own advantage? What are the things that will ensure our survival? How can we keep the destiny of our companies in our own hands and not rely on luck and circumstances to get us through? The following guide to survival is based on my own experience working with small and medium-sized enterprises in Ireland, but the advice and practical ideas are universal and can be deployed in North America, Europe, in fact anywhere. The guide asks you to focuses on two approaches to the content 1) Awareness – am I aware of the specific point or suggestion in my business today? 2) Creativity – what can I do to create the specific point or suggestion within my business ? The guide is not a template for turnaround if a company is already in financial difficulty, nor am I suggesting that people take all of the contents of the guide and deploy them within their business. It’s likely that some of the ideas will already have been addressed within your business – and that’s great. As experienced business owners, what I would envisage is an awareness as to which of these ideas would best suit your current business requirements; a consequential assessment of the practicality of implementing the ideas that have not, and what the pay back for your business would be. By approaching the contents in this way you will focus on those ideas that will bring value to the business quickly, which will generate revenue for your business quickly, and which will add profit to the bottom line. The implementation of even one or two ideas from this guide will lead to the generation of increased income – which is what we all strive for as business owners. There are two sides to the equation that can help small businesses survive: 1) Cost control 2) Revenue generation Each side of the equation is equally important and deserves our attention. Small incremental improvements on both sides of the equation, implemented in a systematic way will prove in the medium term to have a significant impact on the overall performance of our companies.So as you read through the guide, keep focused in terms of awareness and creativity and VISUALISE the potential outcomes within your business. In this way you're sure to find something which adds to your own company along the way.

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