Wow, what a crazy business this is!
I wish I could tell you exactly what I do, but it would become too transparent for many people. Anyway, we thought we were having a good week, Monday was strong, our best day in a few weeks, Tuesday looks solid too, the phone is ringing and we have work, then the bottom falls out (again) seems to be the story of 2008. Every time we get some traction we grind to a halt.
My business is 80% residential and 20% commercial. We need to increase our commercial business to do well in this economy. We just dont have the systems in place or the expertise in making it happen right now. I am working on it feverishly, although I could always do more of course.
I need to get more disciplined with trying to drive commercial business!!!
In leaner times like this, its important to have cash saved for emergencies. I have a line of credit that I havent used before but I keep it open for operational cash flow if need be (costs $100/year to keep it open) and I save extra profit that I dont need personally in an ING Business Savings Account (current APY 3.15% as of 8.13.2008) if you are interested in opening one of these use this link to get a $25 bonus and I will get a $10 bonus.
ING for Business Savings Account referral link.
Have a great day!
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