Rhondalynn Korolak, Author of Financial Foreplay® and On The Shoulders of Giants

Discipline and attention to details is more important than ever if you want to succeed in challenging economic times. Take a look around… competitors are closing their doors – which means more potential customers for the businesses that DO survive. And in times like these, it’s going to take more than “thinking outside the box” and goodwill with existing customers to secure the survival of your business.

You may have been lucky over the past few years – you may have found it possible to operate without a detailed, written plan and systems/processes. But the global economic crisis has changed all of that. If you want to thrive, there is only one thing that is for sure – uncertain times call for deliberate decisions and proven practices.

So here are & top tactics to recession-proof your business.

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Rhondalynn Korolak, Author of Financial Foreplay® and On The Shoulders of Giants

The restaurants and promenades in the Docklands (Melbourne) were packed on Monday, night with couples. It was after all Valentine’s Day – the day when everyone declares their undying love for each other… well, at least their “commercial love”.

Apparently, if NAB has anything to do with it, February 15^th is now the official day of the year to break off a bad relationship – the “unValentines Day”. I wonder how long it will take for chocolatiers, greeting card companies and florists to create some products to commemorate this special occasion?

The obvious question that no one seems to be asking is “why was the NAB dating both the ANZ and CBA in the first place?”

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Rhondalynn Korolak, Author of Financial Foreplay® and On The Shoulders of Giants

If you are like most business owners, you went into business because you are passionate about AND good at WHAT you do… and you wanted the autonomy and financial freedom of owning your own business. You were probably thinking, “as long as I am good at what I do, how hard can it be to make a decent living and support my family?” And you have probably discovered that it is actually harder than you thought.

Here’s the problem…

You may be one of the 97% of small business owners who discover that although you work incredibly hard and your sales seem to be increasing each month, you have little to show for it financially.  Perhaps you are already doing well but you are unsure how to accelerate your results or expand your business? Or you may simply be wondering why you are struggling to pay the bills lately even though your accountant says that you are making a good “profit”.

One of the biggest problems is that business owners often convince themselves that being busy is what business is all about. And you tell yourself “as long as I work hard and do my best, there is not much else that I can do”.  Everyone knows that we’re supposed to work smarter, not harder, but the challenge lies in knowing HOW to do that. And in the meantime, you may have found it just seems easier to do everything…just in case it’s important, or makes a difference.

So, if you’re supposed to do less, HOW do you figure out what is critical or what will have the biggest impact?

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Rhondalynn Korolak, Author of "Financial Foreplay®"

Nevertheless, you plough on and, despite being in the dark about the score, you feel positive that eventually the umpire will declare you the winner. You are so confident that you can’t help but relax just a little. You start enjoying the party like atmosphere. 

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