Part 5 of a 5 part series

Warning Signs:

• Falling profits (before owner's compensation).
• Falling owner's compensation.
• Falling or stagnant sales with falling profits.
• Rising expenses.
• Cost of goods sold.
• Decreased gross margin.
• Significant adverse deviations from budget.

Steps to Improve: SELLING IN HARD TIMES

• Adjust to changes in the economy; don't do what you always did.
• Cash in on hard economic times.
• Repair services prosper in hard times; plan accordingly.
• Do-it-yourself businesses prosper in hard times.
• Small business start-ups increase in hard times.
• Movers and car rentals grow in hard times.
• People earning over $65,000 per year are less affected in hard times.