Page 95 - The Magic of Tiny Business

Part III  Practice Your “How”

I was at dance camp, supposedly focusing on my cre-
ativity and connecting with nature and movement, but I
couldn’t really focus. I took action in the form of an “ille-
gal” cell call from my platform tent in the middle of the
Connecticut woods to get help from a friend’s CFO. She
advised me on what I needed to do.

The strategy wasn’t rocket science. I needed to muster
my courage and take a few logical and doable actions.
Calmed, I finished the vacation (what’s another three days
away from the office?) and then began getting my business
in order. Here’s what I did:

How to Prepare for a Downturn

® Expand cash flow.
® Slow down accounts payable.
® Negotiate extended terms with suppliers by com-

municating what’s going on.
® Speed up accounts receivable by taking credit card

payments, offering early payment discounts, or
other incentives.
® Trim staff hours.
® Focus on need to have versus nice to have
(i.e., profitable revenue-driving projects only).
® Share what’s going on with the team. Get buy-in.
They may have great ideas to add.

I was overwhelmed. Fortunately, a very capable and
likeable CEO, Alan Shapiro, was referred to me. Without
taking time to carefully interview anyone else, I offered

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