Economy | Steve Pohlit

Financial Crisis, Turnaround Consulting

An independent business owner contacted me after reading several of my articles on business turnaround consulting and business process improvement consulting. She asked if I could help her. I asked if she would write me note about her situation. The following is her message:

Steve,

I decided to get in touch with you because I am very close to running out of cash. I don’t know how I will pay on my loan payments next month because at the moment I don’t have any funds for that.

I feel like I am really close to generating positive cash flow with my business but I am still stressed about how I will pay on all accounts/loans that I am responsible for. I feel like I just need to buy myself more time.

I am doing my best to maintain my positive attitude, faith, and belief but I am scared. I’ve applied for additional credit cards but have been denied. As a result, I’ve started to search for a job, which I know is taking my focus off of where it is I want to go.

Financially, I’ve never been where I am at the moment.

If you can help, I am grateful. Even if you are unable to, I am still grateful.

Thank you,

————————————————–

I asked her permission to publish this on my blog as I have actually been planning to write an article about what many people are experiencing for a variety of reasons. Full disclosure: I am a business turnaround and business process improvement expert. I am not a personal financial planner, personal bankruptcy lawyer, personal financial counselor. My experience in this area are very direct and from the streets. If you would like additional support for what I about to tell you, read Bill Bartman’s book “Bailout Riches”.

Notice some very important words in this lady’s description of her situation: faith, belief, scared, “I am responsible”. So my response is written for those who have similar feelings.

About Being Scared:

This is natural particularly since this is the first time she has found herself in this situation. The key is to acknowledge that and just move outside of yourself and observe it. This takes some practice but it can be done. Realistically, we become scared of losing our life, our “stuff”, a place to live and starving. In the worst case scenarios a woman will be not homeless. Nobody will starve to death and stuff can be replaced when the economic situation turns around. In my belief system I have learned how not to fear death. Once you no longer fear death then there is really nothing else to fear. On that topic “Home With God” by Neale Donald Walsch is a great read.

Now I know writing about fear and being scared does not make it go away. You can release these emotions. In fact you must release these emotions or you will have difficulty moving forward which is really what your intending to do. Now for the art of the practical of why you can expect:

I am going to assume she is fairly current on her payments and realizes that will change next month. My advice is to stay focused on immediate needs only while continuing to solidify cash flow from her business. Immediate needs are food, utilities and those service needed for her business. These generally include Internet service and phone service. TV service is not an essential. Car insurance is. The key is to evaluate true essential spending.

For now paying credit card debt and mortgage payments are also not essential. If you are a renter, you may have less time in your place than if you have a mortgage.

Going Forward

This lady mentioned feeling like her business is close to cash flowing. I recommend anyone who has a business ask someone else with business experience for a realistic evaluation of that feeling. This is the number one item I work on in a business turnaround after addressing immediate cash management issues. With the confidence of how a liquidity crisis turns around you can navigate any obstacles. Now if you don’t have that confidence then you should begin pursuing plan B. She mentions looking for a job. That may not be her first choice but it may be a realistic stepping stone until she can turn her business cash flow positive. That is for her to decide.

What To Expect From Credit Card Companies and Banks

The reality is you will get a lot of phone calls. Most of these calls will be made by a computer. So it is a great idea to have a caller id phone that you can put on silence or vibrate. You don’t want to answer a call unless you know the caller and you want to talk to them. The natural inclination is to want to talk to the representative on the phone. I don’t recommend wasting your time doing that until you can tell them you have restored your ability to pay.

Credit card companies will threaten to file suit. They won’t. Read Bartman’s book. You can become delinquent more than 90 days if it takes that long to restore cash flow. Close to the 90 day mark they will be willing to cut all kinds of deals with you. If you take one of them know that they will not reactivate your card. I know the credit card companies will accept settlement at 50% of the amount due and take that over 3-5 monthly payments. They do not want you to know that. And as soon as I write that I am sure someone will say there are even better deals than that.

I am not advocating not paying what you owe. However, the credit card companies have no problems charging very high default rates and late fees. Your responsibility is to position yourself to go forward.

Get used to the phone ringing and don’t take it personal. First a computer is dialing and then at some point when you decide to talk with someone because you have a proposed solution then recognize they are not your enemy or your friend. They are simply doing their job.

You can expect the calls to start at 8AM and end at 9PM Monday through Saturday and noon until about 8PM on Sunday.

Mortgage or Rent

Because mortgages go through a foreclosure process it can take quite some time from start to finish. Rent on the other hand is a bit more dicey depending on the market you live in. The meltdown leading to the high foreclosure rate has driven up demand for rental units. So you could be facing a situation of eviction 60 days or so past the due date.

Generally if you are able to pay a portion of what is due that will buy some time. Mortgages move from the normal mortgage service department to a foreclosure processing department. Expect notice of intent to foreclose and calls. Don’t panic you have time. But keep moving on you go forward plan. Foreclosures and evictions do happen.

Brief Summary

What I have tried to do is paint the picture of what you can expect. There are variations of course and timing can vary depending on the credit card company and bank. Ultimately you have a lot of room to negotiate just about everything related to debt. Utilities no since they will just cut you off. But debt yes. However, in order to negotiate you must have something to negotiate with. You ultimately have to have a source of cash flow to negotiate.

Help Others by Adding To This Article Using The Comment Section

Sharing with all my readers the energy of peace, happiness and abundance

Steve Pohlit, Expert Business Consulting

IR Consulting, Inc.

Email Me, Steve Pohlit to schedule A No Obligation Consultation On Building Your Business Profits.Need more customers? Let’s discuss how to use cutting edge Social Media Marketing in the revenue building cycle of your business to drive your profits sky high. If your company is not growing revenue and profits, if your company is not cash flow positive Click Here for more information about Turnaround Consulting Services for Business In Crisis

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Freedom, Liberty

I have been experiencing accelerated energy toward the foundation principles of life, liberty and the pursuit of happiness – the original value system of the United States. I also feel, more and more people are refocusing on these values as our government continues grow and spend money irresponsibly.

Michael Israel is one person who energizes the feelings of compassion, care and patriotism. Michael is awesome as this video shows.

Sharing with all my readers the energy of peace, happiness and abundance

Steve Pohlit, Expert Business Consulting

IR Consulting, Inc.

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The US Govt. Agrees To Accept $68 Billion Pay Down of TARP Money.

The Treasury should be standing there with “arms wide open” to accept any of the TARP money a bank wants to pay back. Our government charter does not extend to the bailout of private enterprise entities, bank, automotive company or any other. However, we have allowed it and now that the funds have been disbursed, every effort should be made to get them back. That may be the intent of our Treasury but it doesn’t feel that way based on the way it is reported. (link to WSJ article below)

Related point: I am working a business turnaround situation with a client whose bank is a TARP bank. You would never know the bank has accepted money intended on helping business move forward. We have a valid business moving forward plan where the bank does not even have to advance any more funds. However the cooperation of the bank is required. They have chosen not to cooperate. I am told by other professionals working with companies and with TARP money banks that the attitude from the banks of not really helping is pervasive.

So the we allow the government to bail out these banks and the money is not being used to really help the economy. Amazing.

Sharing with all my readers the energy of peace, happiness and abundance

Steve Pohlit, Expert Business Consulting

IR Consulting, Inc.

Email Me, Steve Pohlit to schedule A No Obligation ConsultationOn Building Your Business Profits. Need more customers? Let’s discuss how to use cutting edge Social Media Marketing in the revenue building cycle of your business to drive your profits sky high. If your company is not growing revenue and profits, if your company is not cash flow positive Click Here for more information about Turnaround Consulting Services for Business In Crisis

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Click Here

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Here is today’s Wall Street Journal Article.

News Alert
from The Wall Street Journal
—————————-
Sponsored by NASDAQ OMX
—————————-

The Treasury Department said it will allow 10 of the nation’s largest banks to repay $68 billion in government bailout money.

The Treasury says the banks will be allowed to repay the money they received from the $700 billion Troubled Asset Relief Program funds. The banks have been eager to get out of the TARP program to escape government restrictions such as caps on executive compensation.

The Treasury Department did not name the banks involved, but Morgan Stanley said it is repaying $10 billion in TARP capital.

http://online.wsj.com/article/SB124455528999797923.html#mod=djemalertNEWS

Why Pay Attention To Bill Bartman

Paying attention to billionaires who build their fortune is a good idea if you are interested in making a lot of money. Bill Bartman is a self made billionaire. Bill earned his money during an economic situation similar to what we are experiencing now.

More about Bill and the lesssons I have learned following him in future articles. For now here is an email I received from Bill. I recommend visiting his website (Click Here) and registering for his newslettters by email including the gifts he mentions in the following

Dear Steve,

You may not know that I have a brand-new book coming out called “Bailout Riches: How Everyday Investors Can Make A Fortune Buying Bad Loans For Pennies on the Dollar”. If I were you, I would NOT buy it until June 2. Let me explain.

bailout riches book cover You see, whenever I do something, I like to do it BIG. In past years I’ve rented 27 Boeing Jumbo Jets to fly 6,000 people to Disney World. I also built the largest–and most ethical–debt collection company on the planet. This time, I want to drive my book to best-seller status.

In order to do that, I want to concentrate sales on a particular day, and that day is Tuesday June 2.

What’s in it for you to buy my book on June 2?

First, about the book. It’s all about how you can not just “survive” this major recession, but how you can truly prosper in it. I explain an opportunity that is likely to come around only once in your lifetime:

–How regular individuals can buy bank debt for mere pennies on the dollar;
–Why you need no prior experience to be able to get in this business;
–How you can buy it using NONE of your own money;
–Exactly how you can collect on that debt (stress-free), or simply have others do it for you.

As you may know, the last time an opportunity came around like this, I went from being bankrupt to becoming a self-made billionaire. This time the opportunity is much bigger. Best of all, in the book I hand YOU the roadmap I never had, so your success can be even faster. Bill Bartmann

=====> Warning <=====

Now don’t get too excited and go out and buy it before June 2! That’s because I have a special bonus package ONLY for people who buy the book on June 2. Not a day earlier, not a day later.

I won’t spill the beans just yet. Let’s just say it will contain more goodies than I put in the book, to give you a real insider’s edge on how to profit from this astonishing opportunity. You can ONLY get the bonuses when you buy my book on Tuesday, June 2 from Amazon.

With the economy as bad as it is today, this book could not be more relevant. It’s tailor made for people with day jobs who want or NEED to start making serious money now.

Bill Bartmann

Action Step

Visiting Bill’s website (Click Here) and register for his newslettter then you will not miss the bonused he mentions in this email to me.

Sharing with all my readers the energy of peace, happiness and abundance

Steve Pohlit, The Profit Expert

The WSJ Advises Pres. Obama on Using The Strategic Petroleum Reserve

By LIAM DENNING writing for The Wall Street Journal

“Unlike some of the other black holes into which Washington pours money these days, the Strategic Petroleum Reserve’s value is grasped easily. If needed, it could replace about 44% of daily U.S. oil imports for more than five months.”

In summary, Pres. Obama is considering tapping this reserve to stabilize gasoline prices. Liam correctly points out in this article that the use of SPR for managing prices can easily have an effect that is opposite of what is intended.

My comments on this are brief:

Great article Liam!

The operative phrase is “Strategic Petroleum Reserve” The strategy is to protect the best interests of the country in the event of a very unusual emergency. Fluctuating market prices do not fall within that definition.

So now what do you think?

Sharing with all my readers the energy of peace, happiness and abundance

Steve Pohlit
The Profit Expert

Email Steve to schedule A No Obligation Consultation On Building Your Business Profits. Let’s discuss how to use cutting edge Social Media Marketing, Internet Marketing and Direct Response Marketing in the revenue building cycle of your business to drive your profits sky high.

FREE Report:

How To Increase Business Profits by 30% or More in 90 Days or Less

How To Use Social Media Site Twitter To Find A Job

This is a great article on How To Find A Job Using Twitter. With the current environment I wanted my list to be aware of it: The complete article is published at: http://www.lifehack.org/articles/money/taking-your-job-hunt-to-twitter.html

It’s All About the Hashtags

There are three hashtags that can come in handy to someone on a search for a new job. Keeping an eye on #rtjobs, #jobangels and #jobs can give you a look at who’s looking to actively recruit on Twitter. Even recruiters from companies like AT&T have started postingjob listings, often labeling them with #jobs. While #jobs may be the most obvious tag, there’s a reason behind both #jobangels and #rtjobs tag.

JobAngels is a Twitter account dedicated to helping individuals get back to work. Through retweets and reply messages, a number of Twitter users direct JobAngels’ attention to mentions of job listings on Twitter. Those listings are then broadcast to JobAngels’ 700+ followers on Twitter. Using the #jobangels tag provides another layer of tracking, for both individuals passing jobs along to JobAngels, as well as letting them listen in on another layer of the discussion about jobs that are available.

For the most part, #rtjobs seems quite similar to #jobangels. But rather than having one central Twitter account bringing job opportunities together, #rtjobs relies more on Twitter users including the appropriate hashtag in their messages. One Twitter user, Aaron Brazell, has created a site to help organize all the information labeled with #rtjobs. The site is based on the Twitter API, the #rtjobs site brings all #rtjobs tweets together in one place and makes them searchable. It makes using all the information flowing through Twitter that much easier to use — and it can be a much faster way to search through tweets to find a job opportunity than any other approach. You can even follow it through an RSS feeder if you aren’t so inclined to rely on Twitter.

Running a Search or Two

Click Here http://www.lifehack.org/articles/money/taking-your-job-hunt-to-twitter.html

Ask Your Network

Click Here: http://www.lifehack.org/articles/money/taking-your-job-hunt-to-twitter.html

Twitter is a Tool

Click Here : http://www.lifehack.org/articles/money/taking-your-job-hunt-to-twitter.html

Sharing with all my readers the energy of peace, happiness and abundance

Steve Pohlit
The Profit Expert

Steve is the Co-Founder of Manifest Mastermind and President of International Business Consulting Resources. His firm specializes in guiding companies to rapid increases in revenue and profits with a sustainable growth rate. FREE Reports:

How To Make More Money With Your Business Now and Long Term

7 Steps To Manifesting Your Dreams

Network with me on Facebook: LinkedIn: Follow me on Twitter

Your Level of Business Success Is Directly Linked To One Thing

When asked: what is the number one key success factor for business success? The responses often are:

A hungrey market with money
Cash
An effective business plan
Management control system
Experienced leadership
etc.

There are many factors that contribute to a thriving business over time. I have led business consulting clients through all the primary steps necessary to operate a successful business. Even after sometimes many months of work with very clear guidance, I have observed intelligent, experienced business people miss the profit mark and in some cases destroy what should be a successful business.

Personally, I have experienced successes and failures. Successes were not always sustained and failures were swift. In evaluating my own experiences and those of many other companies where I have had direct contact as an auditor with Arthur Andersen, CFO of several very large companies, business consultant to companies ranging from small to large or as an entrepreneur, I discovered the key.

This key is present in every success story and absent in most failures. This key is the part of the reason for the idea of Manifest Mastermind . Together with my business partner Manifest Mastermind was launched a week ago. The first step we guide members to completing in the Manifest Mastermind process is having a clear definintion of what you want. I know a lot of life coaches and consultants start with that. Keep reading.

Most people when asked what they want start with a list that includes, more money, a new car, better home, financial freedom, improved relationships, vibrant health and so on. But when challenged as to why they want the things they describe, the list sometimes changes. On the topic of money, business people think in terms of revenue and profit milestones. I have started nearly every consulting engagement with establishing a clear definition of the revenue and profit goals for the next year. But there is more to it.

While I am certainly not ignoring monetary and other metrics, I have expanded my focus on what it is the business leadership really wants. Here is the key that I feel is most important:

Are you in alignment with the purpose of your business?

If your goal is money, you may realize your goal and not be happy. So what is the point of the money? Or maybe your goal is money but the demands weakens your health. So what’s the point of the money? It is very clear that money, relationships and health are all interrelated. If one is out of balance the other suffers. Alignment is the key.

Do you know anyone who really does not like their job? They are making money but how is their life and what effect does this have on their health and those around them? What effect does this have on their spouse, partner, children?

Do you know anyone who is not making money and struggling financially? That is a tough situation and most people in that situation have a single minded purpose which is to make money without regard to how happy they will be when the money is flowing. If they pursue just the money then often end up in the same pattern.

If you are in a less than successful pattern, it is wise to move out of that pattern. It starts with awareness, definition of purpose and associating with like minded people and masterminding for goal achievement. That is what I have found to be true for me and others joining the Manifest Mastermind process.

You are invited to our free course and most welcome. Click Here

Sharing with all my readers the energy of peace, happiness and abundance

Steve Pohlit,
The Profit Expert
www.StevePohlit.com

Network with me on Facebook: LinkedIn: Follow me on Twitter

Steve is the President of International Business Consulting Resources. His firm specializes in guiding companies to rapid increases in revenue and profits with a sustainable growth rate. Don’t miss my FREE Report: How To Make More Money With Your Business Now and Long Term I am building my practice and welcome new client inquiries. Call me for a fee consultation at 727-587-7871

This report may be freely distributed without restrictions with the original content including this resource box remaining unchanged. Author: Steve Pohlit, Business Consulting Services, Executive Coaching, please visit www.stevepohlit.com

PS. My doors are open for new clients and referrals are well compensated.

Valuable Job Search Guide Found on Mashable.com

In doing research for my current business development project which will demonstrate the power of social media I discovered what seems to be a really cool tip for those looking for a job. I found this tip on the very popular blog Mashable and here it is from Eric Pender

I have actually used Google Reader to help me find job leads.

I go to Craigslist and perform a query in the jobs section for specific keywords that target the kinds of jobs I’m looking for (I search for search engine optimization jobs, but you can really use this for anything). Then, I take the URL that comes from my search query and plug it into Google Reader. Anytime that a new job posting comes up for that keyword, it comes into my reader feed. When I was looking for jobs and saw an interesting listing come across my feed, I was the first one to apply for it. This strategy landed me many calls, and one of them ended up resulting in my current place of employment.

To Follow The Business Development Project Using Social Media connect with the following:

On Facebook
http://steve.facebook.com
http://groups.to/manifest

On Twitter
http://twitter.com/stevepohlit
http://twitter.com/manifestmmind

Interesting facts: 500 new friends were added to our Facebook group in 4 days. 0-1,000 followers were added on Twitter in 4 days.

Sharing with all my readers the energy of peace, happiness and abundance

Steve Pohlit,
The Profit Expert
www.StevePohlit.com

Network with me on Facebook: LinkedIn: Follow me on Twitter

PS. My doors are open for new clients and referrals are well compensated.

Retail Industry News: The Sky Is Falling

Another article today in the Wall Street Journal and I am sure there are many other headlines as well about the state of the retail industry right now with retail companies dumping inventory at deep discount pricing, concerns about liquidity and credit not being available for doing deals (mergers and acquisitions)

I am not denying the specific examples cited in these stories. Circuit City is real, Pilgrim’s Pride is real and I am sure there are other bankruptcy filings today in the private sector. The real issues is leadership mindset.

I published the following comment in the Wall Street Journal today in response to an article “Retail Faces A Long Season of Stress” My response is relevant for all companies and entrepreneurs regardless of the industry:
—————————-
Many companies have developed their culture to focus on building a positive value added relationship with their customers and prospective customers. These businesses will feel much less of an impact of a global economic softening than others. Some will thrive. The operative phrase is cultural change.

Regarding credit markets and consolidation in the industry, credit constraints are real. However, it is also true there is capital available and if a deal makes strategic sense, it can get done.

Our most immediate challenge is mindset. We are tested in our ability to look for opportunities and solutions when media focuses on every possible negative story. Those who succeed with a consistent mindset that they can move forward successfully, will do so.

There are countless examples throughout history, including the depression era, of people moving forward and not being stuck. Mindset is a choice for each of us and is not a result of external events.

Sharing with all my readers the energy of peace, happiness and abundance

Steve Pohlit,
The Profit Expert
www.StevePohlit.com

Network with me on Facebook: LinkedIn: Follow me on Twitter

PS. My doors are open for new clients and referrals are well compensated.

How Is Your Business: Read The Amazing Answers

During a trip to my hometown Johnstown, Pa I had the opportunity to ask quite a few people how they were doing economically. I was anticipating more than a few doom and gloom stories.

I learned about a company that makes specialized lighting systems for coal mines that has doubled in size from 40 employees to 80 in less than four years. Plus they are still hiring. New lighting technology has created a new market: coal mines that have closed. Really cool!

I met an engineer for bridge systems in the Pittsburgh market whose main concern was being so busy. He was actually hoping for to be able to take some time off soon. Then there was the guy who couldn’t say much about his work. In fact he couldn’t say anything because he works under an oath of silence in a place near Washington D.C.

Nearly everyone I talked to was upbeat and busy with their jobs. Consistently I meet business owners who tell me their business is bad. This trip was no exception. In every case except one, what is really bad is their mindset or attitude. Each doom and gloom story is attached to a business that has huge opportunities for profitable growth. But the owners don’t think so. When the owners don’t think so the results reflect what the owners think. I encourage every business owner I meet to get started with easy to implement, economical marketing. My recommendation is a four step:

1. Install or update the business website with visitor contact capture on every page.
2. Activate a blog with relevant content fed to syndication sites. Each item of information has back links and contact information capture form tied to an auto responder.
3. Use video for topical content structured with benefits and a call to action. Syndicate the videos, add them to the blog and select ones to the web site.
4.Using email marketing, and other action steps, get closer to existing customers and develop relationships with prospects.

While my marketing module is comprehensive the above 4 steps are integral to the module and will result in noticeable improvements to your business. Implementing most of these four steps takes very little cash but does require some time. The choice is spend your time on rational marketing or you can sit around and complain.

Sending all my readers the energy of wellness, peace and abundance

Steve Pohlit,
The Profit Expert
www.StevePohlit.com

Network with me on Facebook: LinkedIn: Follow me on Twitter

PS. My doors are open for new clients and referrals are well compensated.

Advice on Business Advice …Don’t Buy It

If you are a subscriber to any business or marketing content email mail lists you know that every marketing person who has ever read a business book, walked in a bookstore, or touched the coat of an expert is coming out with headlines appealing to the fear that appears to be pervasive in the marketplace. Let’s take a look at some of the headlines appearing in my email box recently:

Subject Lines In My Email Box – A Small Sampling

What Is Your Economic Bailout Plan?

Steve, Annihilate The Rat Race

Turn Recession Into Prosperity

Just Follow This and You Will Make Money

Stop The Roller Coaster, I Want Off

Steve, How To Prosper In These Perilous Times

Recession Survival

Melt Down, What Melt Down?

Discover The Secret of Staggering Entrepreneurial Success

Everyone has a story that includes successes and failures. However only a few have experience that is valuable for others. Select coaches, advisers, consultants based on what they have done in their own business and not just based on what they say they have done for others.

I purchased my first company in the mid 90’s. It was a chain of drug stores in Tampa Bay with revenues of $50 million. There were more valuable experiences gained from being an owner for two years before it was sold that in my entire business career up to that point.

Soon after, I started an Internet Service Provider company and while doing that “pushed the experience envelope” in quite a few areas. I learned what can happen if you are juggling too much and assuming all is well. Can you feel that all did not go well?

Listen to those people who have experience with your business issues. They do not have to be an expert with your product or service. They must be an expert in helping you move forward whether that be marketing programs, organizational development, pipeline management, technology….whatever the areas that need the most attention. The best advisers are those who have a very clear grasp on your business model and quickly see the “A Priority” opportunities that can be moved on to realize maximum benefit quickly. You will not find this guidance “in a box” or emai. Personal attention from a person who understands and will guide your business forward and help you achieve your goals.

One starting point is to call me – Steve Pohlit 727-587-7871

Sending all my readers the energy of wellness, peace and abundance

Steve Pohlit, www.StevePohlit.com

Network with me on Facebook: LinkedIn: Follow me on Twitter

Advice on Business Advice …Don't Buy It

Subject Lines In My Email Box – A Small Sampling

What Is Your Economic Bailout Plan?

Steve, Annihilate The Rat Race

Turn Recession Into Prosperity

Just Follow This and You Will Make Money

Stop The Roller Coaster, I Want Off

Steve, How To Prosper In These Perilous Times

Recession Survival

Melt Down, What Melt Down?

Discover The Secret of Staggering Entrepreneurial Success

One starting point is to call me – Steve Pohlit 727-587-7871

Sending all my readers the energy of wellness, peace and abundance

Steve Pohlit, www.StevePohlit.com

Network with me on Facebook: LinkedIn: Follow me on Twitter

Failed Financial Bailout and The Responsibility of Business Owners and Executives

You already know the failure of the $700 billion bailout bill triggered a 777 point drop on the DOW. CNN reports that the markets lost $1.3 trillion dollars of value in one day. I didn’t double check their math. Let’s just say it was a big decline.

There will be plenty of advice on this situation. Unnamed top consultants cited in Forbes today already advised: “cut costs and grab the low hanging fruit”. Thank you for that clear direction. There will be a lot more of similarly “valuable” advice in the coming weeks and months.

This is not a “what happened ” report or “who should take the blame” report. This is simply a Wake Up Call To Say – Stop Living A Life of Illusions! Accept responsibility for your business. Do the following today. In fact, implement these right now:

Take focused action to grow profits and sales every day. Do not blame outside factors. Every business works in the same marketplace. Define the five “A” areas of your business that drive profitable sales and spend 80% of your time on those. That is four out of five days.

Treat your support network with respect and help them grow faster than your business since your business will follow the growth of your skills. Your support network should be selected based on your personal weaknesses not your strengths. Don’t go for clones.

Optimize all your assets including, people, receivables, inventory, fixed assets. Each one of these assets replace cash. You need cash to grow.

Evaluate, decide then act. You don’t need a two year study to enter a new market or even a new country. You can test it beginning now. This is the “bias for action mindset”.

Treat all the same as you would like to be treated. When someone does not treat you well ask yourself what you are doing to attract that behavior. Yes that is exactly what I meant to write.

Each of these areas takes work to implement. If you need help, Email Me (Steve Pohlit) or call me at 727-587-7871

Consider This:

Some members of Congress stood ground and said “it is not the government’s job” or ” I am in favor of a solution, but this plan is not good for America.” I don’t know their personal situation, but most likely some of them have personal money in mutual funds and stocks that got clobbered today by their vote. How would you vote if you know your net worth would tank by your no vote? Would you be able to vote your belief. Actually I respect all who voted their belief system regardless of the vote.

Politically there are big issues on the agenda and people are lining up for what the government should do on a number of social issues. The bigger question is whether the government should be involved in any of these social issues in the first place. It seems to me our country was founded on the principle of independence – life, liberty and the pursuit of happiness. I don’t recall anything that says that if we pursue happiness and experience unhappiness, the government should bail us out.

If you don’t remember Enron, Google it. Out of Enron came Sarbanes-Oxley. That was the legislation designed to prevent another Enron. I can show you Power Point slide where I pointed out that this was useless legislation. There already were laws for corporate governance in place. I was one of the few in the accounting and legal professions arguing against it. It passed and the cost has exceeded the bailout that failed today. That cost was paid for by consumers where the price of products and services had to absorb the cost of implementing Sarbanes-Oxley. History teaches us a lot if we pay attention. When I work with business consulting clients I help them implement what I know to work from experience as adapted for the the individual differences of the client. It works when the client pays attention and acts as guided.

Sarbanes-Oxley was designed to prevent a bailout from even having to be considered. It didn’t and government legislation will never prevent transactions with little or no economic substance. But we continue to live in an illusion that government can solve all of these issues. It can’t and nor should it, because that is not the intention for our government. ” We The People” are responsible.

Sending all my readers the energy of wellness, peace and abundance

Steve Pohlit, www.StevePohlit.com

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The Truth About The Financial Markets and What Your Company Needs To Do Right Now

First Point: I do not know the truth of the reasons for or the extent of the weakness in the financial markets. Neither do financial news editors or anyone in the government.

Second Point: Accept the fact that financial markets are in turmoil and consider some rational information. The following is an excerpt from an article published by Marc Cenedella who owns The Ladders. It appears to me that what Marc writes is accurate and maybe it will help you understand the practical risks related to the liquidity for your business. Following Marc’s comments, I present a three step action plan for you. Marc writes:

” It came to a head last week.

The bankruptcy of Lehman Brothers caused one of the money-market funds – the “MMA” accounts that you might be sweeping your cash into in order to get a slightly higher return on your money – to “break the buck.” So your dollar invested in that particular money market was now worth only 97 cents. That is, the account that we all thought was safe turned out to be not safe.

As a result, reasonable people like you began, not surprisingly, to withdraw cash from MMAs and put it into super-safe investments like government bonds and gold. At one point during the week, some government notes were trading at a negative interest rate – that means people were willing to pay more than a dollar today to make sure they got back their dollar in thirty days!

Extraordinary times, indeed.

Because this “money market” has historically been very, very, very reliable, operating companies had come to depend on it for daily financings of really mundane stuff – buying inventory, financing payables, funding payroll.

So with MMAs draining cash, the real operating companies of the country, from the Fortune 1000 to your local beer distributor, began to find that the funds they needed to operate their daily business were not there, or were priced with ludicrously high interest rates. As a result, real companies, not just those on Wall Street, were facing a dire situation.

By Thursday evening, it got so bad that Secretary Paulson and Chairman Bernanke went to Capitol Hill to explain the situation to lawmakers. Senators present commented, they were told “that we’re literally maybe days away from a complete meltdown of our financial system, with all the implications here at home and globally.” Another said: “History was sort of hanging over it, like this was a moment.”

In the absence of action, what we would have faced this week were real companies unable to do business. Unable to buy inventory, unable to pay their bills, unable to meet payroll.”

Steve Pohlit’s Three Step Action Plan Related To Your Company’s Liquidity:

1. Implement a daily liquidity (cash management) “flash report” if you don’t already have that in place. This report gives you the status of all cash and near cash balances (typically inventory and receivables) along with short term liabilities. I advise using more than one financial institution as a depository for cash balances.

2. If you have receivables and inventory in your business, you must develop a list of higher risk receivables and monitor those balances daily. Monitoring includes having a direct connect with the customers who owe you the money and a health report on their business. This same logic should be applied to critical path suppliers. Do not assume that any vendor can easily be replaced in this economic environment.

3. Take aggressive steps to move your business forward. Step up near term performance goals. One of the best tools I have seen work recently for on line marketing is the combination of an integrated website, blog and video. I am preparing a special package to help those companies not using these tools to get started right away. In the meantime if you are ready to move on this recommendation or need help with the about three action stops or more, please call me Steve Pohlit at 727-587-7871

Sending all my readers the energy of wellness, peace and abundance

Steve Pohlit, www.StevePohlit.com

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The Most Valuable Advice For Making More Money For Your Business and You:

Recently I hosted a conference call with two experts in the self-development industry. The information developed and shared with the callers is direct lead to my professional advice for companies:

The Most Valuable Advice For Making More Money For Your Business and You:

Establish a very clear picture of where you want your business to be and then release the gap between that picture and your current reality.

The follow-on advice to this Actual (Current Reality) -Standard (Clear Picture of Your Goal) = Variance (The Gap) is that anytime somebody’s thought, words or actions attempts to destroy the picture you have created. For business the picture needs to include financial performance as well as company culture and lifestyle. I have written and recorded videos on how to begin rolling back twelve month financial rates of performance to what has to be done this week to achieve those goals.

With the guidance and the track record in place to help most companies achieve extraordinary performance, do you know what the one thought that is pervasive? “Well things are bad right now and I don’t want to spend any money on help or doing anything different.” Attitude is the most damaging gap. Release the pessimistic attitude and open the door to the ideas and action that will move your business forward.

You have a choice. Let external situations mandate your results or create your own reality. Successful mindsets create successful results.

I am a big fan of Internet Marketers. I love the buzz they can create. The subject lines used to grab your attention and the sales copy are works of art. Of course beauty is in the eyes of the beholder. Great subject lines and great copy will always work because the copy appeals to our emotions. The copy convinces us that when we buy a product or service we will have the life of our dreams.

My consulting practice does not promise you anything but this:

I will implement known best practices relevant for your business. They will work while I am coaching you and your company. You will receive the benefit of a very high return on investment. Best practices do not work on automatic. If you stop following what you learned after project completion, then you can expect the benefits to stop as well.

Sharing with all my readers the energy of peace, happiness and abundance

Steve Pohlit, Expert Business Consulting

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About: Steve Pohlit is a CPA,MBA and has been the CFO of several major domestic and international companies. Steve is business owner and an expert business consultant, direct response and social media marketing and social networking security expert . Steve is focused on helping companies improve their business performance. All articles published by Steve unless specifically restricted may be freely published with this resource information.