No doubt, your 2010 business goals include getting your salon’s finances in line, more organized and less stress-loaded. Here are three helpful tips to jumpstart your resolutions, from Open Small Business Forum.
•Evaluate all expenses, taking a hard look at what has always been deemed "necessary." Consider technological advances (lighter software packages, free online programs), as well as in-salon comforts that may be cut out – whether for customers or employees. Re-evaluate your suppliers and vendors – compare insurance quotes, phone services, business credit-card benefits, etc.
•Get aggressive with payment schedules. Analyze your AR balance sheet and work through any problems towards the goal of a “cleaned up” balance sheet if needed.
•Plan beyond the thought of business staying the same. Plan for things to pick up during the recovery, and have a plan in case things take another dip in 2010.
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Source:
Open Small Business Forum: Get Fit! 3 Financial Resolutions for the New Year
