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AHMAD HOSSEINI
Dean, School of Business and Management
National University
Small
businesses drive the U.S. economy, yet they suffer the most during
recessions. Compared to large companies, small businesses have limited
cushions of capital to compensate them for revenue losses. Credit
crunch makes expansion, which is crucial for a small business, very
difficult.
Fundamental flaws in the business plans of small
companies are exposed during economic downturns. Too many small
businesses focus on cutting costs and forget to focus on new
opportunities to generate revenue.
Business people who adopt a
long-range approach take a careful look at the present and future
capacity of their firm and its ability to expand potential income. A
farsighted businessperson knows that the present economic situation
will eventually come to an end. Those who prepare for the future,
rather than lament the present, will be poised to profit when the
economy turns.
Here are a few suggestions that should help any small business owner to prepare for the future:
1.
Examine every aspect of your business operations. Do not limit your
search to cost reduction. Look for opportunities to improve the quality
of your products and services. In the long run, your sustained income
will greatly depend on the quality of your products and services more
than their cost. Find alternative sources of capital.
Andrew J. Policano | Anil Puri | Esmael Adibi
Abe Helou | Linda A. Livingstone | Timothy Peters
Ahmad Hosseini | James G. Ellis
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AHMAD HOSSEINIDean, School of Business and Management
National University
Small businesses drive the U.S. economy, yet they suffer the most during recessions. Compared to large companies, small businesses have limited cushions of capital to compensate them for revenue losses. Credit crunch makes expansion, which is crucial for a small business, very difficult.
Fundamental flaws in the business plans of small companies are exposed during economic downturns. Too many small businesses focus on cutting costs and forget to focus on new opportunities to generate revenue.
Business people who adopt a long-range approach take a careful look at the present and future capacity of their firm and its ability to expand potential income. A farsighted businessperson knows that the present economic situation will eventually come to an end. Those who prepare for the future, rather than lament the present, will be poised to profit when the economy turns.
Here are a few suggestions that should help any small business owner to prepare for the future:
1. Examine every aspect of your business operations. Do not limit your search to cost reduction. Look for opportunities to improve the quality of your products and services. In the long run, your sustained income will greatly depend on the quality of your products and services more than their cost. Find alternative sources of capital.
Andrew J. Policano | Anil Puri | Esmael Adibi
Abe Helou | Linda A. Livingstone | Timothy Peters
Ahmad Hosseini | James G. Ellis
BACK TO MAIN PAGE
Abe Helou | Linda A. Livingstone | Timothy Peters
Ahmad Hosseini | James G. Ellis
BACK TO MAIN PAGE
