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Six Striking Tips for Business Owners Fighting Their Way out of the Current Economic Mess

NEW YORK, February 24, 2010 /PRNewswire/ -- BizMove.com announced the launch of a free comprehensive resource of small business information titled "The Small Business Management Knowledge Base" (http://www.bizmove.com/small-business-management/).

The new resource features hundreds of guides, worksheets and checklists. According to Meir Liraz, president of BizMove.com, it is the most comprehensive free resource of small business management information available on the net.

When asked what advice he can offer to the small business owner struggling to survive in these challenging times, Liraz replied with the following six tips:

1. Stay current. Subscribe to magazines that cover your business. Read blogs and constantly research topics about your business. It's easy on the internet!

2. Make sure you have a financial plan. Also a budget and a measurement process to keep track of how you are doing monthly. If you don't know where you stand financially and have no short-term and long-term financial goals, then you are just letting fate dictate your success and we know those odds aren't too good. Control your own destiny!

3. Cash forecasting. It sounds boring and difficult, but it's not. Keep it simple. Look at your next 3 months projected income or revenue, then just lay next to it all the expenditures you need to keep the business running. The difference is your cash flow. You must do this to avoid surprises. Most businesses hit the brick wall because they fail to understand their cash flow.

4. Effective time management. One of the hardest aspects of a small business is creating the discipline to focus on the most essential tasks. It is so easy to get distracted and put off tasks that need to get done. Develop a to-do list EVERY-DAY. Set goals for the week and review how you are doing against them. We all struggle with this, but it is one of the key elements of success.

5. Don't rest on your laurels. Be prepared to always change. Force change. Look for things to do more efficiently or how to improve your offering or product. Constantly evaluate your competition and benchmark yourself against them.

6. Don't give up. Some of the most successful entrepreneurs failed several times before doing extremely well. So, if you're failing, fail. And fail fast. And learn. And try again, with this new wisdom. Do NOT give up. Yet, do not suffer, either.

    Contact:
    Meir Liraz
    [email protected]
    http://www.bizmove.com

SOURCE Liraz Publishing

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