| Welcome to Next
Step Solutions E-Newsletter
Dear
Margaret, Greetings from
Next Step Solutions, Inc.! We are enjoying the more frequent sun
breaks this week. After our extremely wet winter, the occasional
sunbeam or robin sighting is hopeful. Spring is approaching. Spring
also brings thoughts of spring cleaning. We’ve done some at Next
Step and share some of what we found below.
Looking at
business news, we are heartened to see that the economy is still
strong. Unemployment in the US dropped to 4.7% in January. It
dropped steadily throughout 2005 in Washington, ending the year at
5.2%, according to the Bureau of Labor Statistics. This is good news
that bodes well for a strong business environment in 2006. So,
here’s to a successful 2006 for us all!
Spring
Cleaning by Dennis
Purvine
 Like most
business professionals, I spend a good deal of time updating and
expanding my business knowledge. Business is not a static skill, but
a practice that grows and evolves with experience and time. It is
both art and science and, especially like art, it experiences fads
and trends. I want to be prepared to help my clients apply the best
knowledge available and avoid the overly trendy or
misleading.
In addition, I
really enjoy learning new things, so I take every appropriate
opportunity to attend classes, seminars and speeches. However, I
suffer from the same time deficit and information overload we all do
in today’s world. In spite of good intentions to review that thick
binder of good class notes, it typically winds up on the shelf
collecting dust. This week, as I tried to clear outdated materials,
I actually skimmed through some of those dusty tomes. Quite
unexpectedly, some gems emerged. Here’s one.
5 Keys to Sound
Financial Management (These still apply a decade after I took the
notes.)
- Business owners and managers must understand and monitor the
financial position of the company. It is not a scorecard, but a
management tool.
- Anticipate funding needs and plan accordingly.
- Know your costs and price your products and services properly.
- Manage your growth. Move your business forward intentionally,
not by chance.
- Structure your debt properly. Borrow only as necessary to
support your strategic goals and minimize interest costs.
Still have some of those “mature” class binders on your
shelves? Take a look before you toss them. You may find some old
words of wisdom that strike new and useful chords today.
Upcoming
Events Watch this
space!
 Thanks to all
of you who attended our seminar in January on Buying a Business! We
appreciated your participation and very positive comments. For those
of you who were interested but not able to attend on that date,
watch this space! We will be scheduling additional seminars on this
topic. If you would like to be notified, please send a note to
info@nextstepsolutions.com and we will make sure to let you know
when the schedule is set.
We are also
working on a new series of offerings on the financial side of
running a business. These will be offered in the April time frame.
More information will be coming shortly!
Free Resources
from Next Step
Words of
Wisdom Quotes from
business movers and shakers
Helen Keller was once asked if there was anything worse than
losing one's sight. She responded, "Yes, losing one's vision.”
|
|
