Those numbers are not the lesson of this article. Although if you read the numbers carefully they wil help network marketers, direct response marketers and people managing special interest groups off line and on line. This article is about the doors that opened when I failed to understand all of the features of the new conferencing call system I was testing and I couldn’t connect the callers. I rescheduled the call.

In a prior life I would have blamed a lot of people but now I look and say what could I have done to prevent this problem? The number one action (and yes I knew this but didn’t do it) was to test the system before announing and promoting the call. I had assumed I understood how it worked from the training that was available and I didn’t. So I accept responsibility for needing to reschedule the call.

First lesson: always test …always.

The conference call system is fairly new and once discovered I really wanted to use it. The features and benefits for a free system were “off the charts.” I was further impressed by an email from the company’s CEO who had learned of my canceled call and wanted to know about the difficulty and what they could do better.

Second Lesson: when a customer even a free customer has an issue, find out what you can do to solve the problem and possibly prevent it from recurring.

In order for me to answer the question for myself and the CEO as to what can be better I needed to make sure I understood how this system worked. Often times when I have a question I will become the teacher since if I can successfully explain it to someone else then I understand it myself. So I developed three videos of enhanced training for this system which is called Callifower. These videos are below.

Third Lesson: You understand an important topic well enough if you can teach it.

Now this is where my business analytical and consulting skills really kick in. I stepped back from this situation and asked, other than my group who else would benefit from this conference calling system and training? Here is a short list:

1. There are groups using conference calling extensively now. They include network marketers, internet marketers launching products to name a few.

2. Companies with employees in remote locations. These can include outside sales people on the road, managers of stores in multiple locations, trucking companies with drivers on the road, employees in mulitiple offices or plant locations. Are you beginning to see the opportunities.

Fourth Lesson: Be open to how technology developed for one group can be applied to non-targeted groups.

This is the advantage of working with a business consultant exposed to a wider range of company practices. However, like companies not all consultants have expertise in marketing tools like blogs, video, social networking, conference calls, syndication, direct response and more.

International Resources and specifically this consultant is very connected to not only the latest tools that are developed but more importantly often has personal experience with what is working. This logic can be applied to company managers who identify a practice that works well and can share that using video, white papers, blogs, press releases, emails, newsletters and seminars with customers and even competitors. Very few discoveries are extremely proprietary and often “speed to market” with information establishes credibility.

What really caught my attention about Calliflower were the features of being able to see who is on line and multiple ways for participants to ask questions and participate. Check out these videos:

Video 1: Calliflower Conference Call Training for Participants:

Video 2 Part A Calliflower Conference Call Training for Conference Hosts:

Video 2 Part A Calliflower Conference Call Training for Conference Hosts:

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

Steve Pohlit http://www.stevereports.com

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Don’t Miss These Free Reports from my new business consulting site:

The Top 10 Action Stops That Will Make Your Business At Least 50% More Money in 90 Days or Less While You Spending Less Time Working Click Here For The Free Report

The Key Issues That Must Be Addressed Before You Buy Any Business of Any Size. Click Here For The Free Report

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 Remember many of my business building articles can be found at Steve Reports and my prosperity building tool (best tool ever for helping you manifest your goals and dreams) is The Prosperity Tool Chest and guiding articles posted very often at Prosperity Tip

The purpose of this video is this introduce me, Steve Pohlit and my firm International Resources, www.IRConsultingInc.com to you and your business.

There are really only two primary reasons you may be considering temporary, part time or interim professional assistance. The first you already understand and that is to fill a void in your business. You have an immediate need for assistance and you are evaluating your options for filling that need. The second one you may not have thought about and that is where your company is not of the size or financial strength to support a full time professional with the right experience and skill set.

Credentials, Experience and Fit:

I am a currently licensed CPA and my MBA is from Xavier University. My experience as a CFO and CEO is extensive in numerous industries. My experience also includes ten years with the largest public accounting and consulting firm in the world.

Our goal is to have the right match for your business. This is why it is very important we have a clear understanding of your business and business requirements. We will then match our best professional for the assignment.

We guarantee your satisfaction with the professional assigned to your company. While rare, occasionally there is a mismatch. We will replace anyone who is not meeting your expectations. Of course there are no long term contracts and the service you engage us to perform can be terminated with one week’s notice.

Contact

Steve Pohlit, President
International Resources
IR Consulting, Inc.
www.IRConsultingInc.com
727-224-4743
Email Contact Click Here

The conditions are perfect for anxious buyer to end up with bad transactions. I have done a lot of deals including one fairly large transaction where the entire credit for getting this done right goes to one of the lenders and their attorney. I was very fortunate and learned valuable lessons.

I have worked with quite a few businesses where the problems were identified after the fact and are clearly items that belonged in the purchase/sell agreement.

I decided it is important to provide information to people considering buying a business. My latest report “How To Buy A Business And Not Make Busting Mistakes!” (Click Here For Your FREE Copy)  is relevant for every size acquisition. Some of the items detailed in the report may not be relevant for your deal . Every potential buyer will benefit from this information that is almost in checklist form.

Steve
http://irconsultinginc.com

Steve is the President of International Business Consulting Resources. His firm specializes in guiding companies and their employees to achieve their highest potential. Many of Steve’s business building articles can be found at Steve Reports and his prosperity building tool is The Prosperity Tool Chest

Email Steve or call him directly at 727-587-7871

PS You are invited to review our FREE Report :

The current business climate is tenuous and an increasing number of businesses find themselves in a profit and cash flow crunch. If you or someone you know is in that position, time is of the essence. Literally every hour that passes is critical when a company’s profit and cash flow are on a downward trend. The faster action is taken to restore the business to a positive cash flow position, the more likely it can be further strengthened to renewed profitable growth.

The following steps are the major ones that I have guided clients through who have been in this situation:

1. Stop issuing checks until Step 2 and Step 3 are completed. The exception would be payroll and any utilities if you are at the point of being shut off if the bill is not paid. If you have a trucking company you have to buy fuel. If you are a restaurant you have to buy food. If you don’t have the funds to pay “life support costs and expenses” there are still options but they would have to be addressed on a case by case basis. You want to avoid getting to the point of not being able to pay the must have expenses. There is a wide variation of the definition of must have items. The clients I have helped were very surprised at the literal definition of “must haves” but they thanked me later.

2. Be certain as to your exact cash and liquidity position. You need a very accurate snapshot of the free cash in your bank account, the quality of accounts receivables and a precise accounts payable listing that includes all invoices. You would be surprised as to how many companies do not know their actual cash position, ignore problems in their accounts receivable balances and forget that oftentimes there are bills sitting in unopened mail and desk drawers.

3. Develop an eight week cash receipts and disbursements forecast and don’t leave one cent off of the disbursements list. If you are not sure how to do this, there is an example at 10 Minute MBA This is a core schedule that I implement with all clients and is very valuable when used properly.

4. Document an organization chart with each person’s position and compensation.

5. If the business sells a physical product, it is important to evaluate the inventory. You cannot sell what you don’t have and you can’t replenish inventory if vendors have shut you off.

6. If there are debt agreements in place understand all debt compliance covenants.

7. Identify all critical support functions. For example, the company’s internet connection, maintenance agreements on machinery and equipment and key licensing agreements if any.

The goal is to have an accurate picture of all the facts no matter how dismal they are. I can’t tell you how many times I have been blind sided by additional pieces of information that were very important in finalizing the turnaround plan.

What Actions Are Typically Taken Once There Is An Accurate Picture of Situation?

1. Cut all non- essential spending and payroll.

2. Implement a temporary reduction in pay for as many people as possible. That is always difficult and may be impractical if there is a union or a large hourly workforce. Every situation is different but normally payroll has to be cut and it is often delegated to the outside consultant to handle.

Note: many of these steps are implemented quickly. Even while the entire picture is still being developed. That is where experience with these situations is very valuable. Experts with turnaround experience know how and where to act fast.

3. With people you want to take the action one time and then meet with those that remain and explain to them what is going on and how it is going to be fixed.

4. Vendors on the accounts payable list will need to be called and given a date when they can expect a workout plan. This is not fun work even for an expert consultant. However, whatever needs to be done to save the business and restore profitability should be addressed.

5. If there is a sales staff, look to move those people to full commission status and if possible add to the staff with full commission as the compensation package. Be careful if out of pocket expenses are paid. They have to be limited and per diems in place.

6. Assign clear accountability for collecting receivables and put in place a three step collection process. In certain cases discounts are negotiated for paying early.

Notice all the emphasis at this point is on cutting expenses and build cash once that process is in place then

Work on your building business and profits plan. Make sure it is realistic and focused on the next 90-180 days. When that is drafted including the financial projections you are now in a position to negotiate with bank debt holders, capital equipment lease venders and other long term lease agreements in place.

Some clients may need to file for chapter 11 reorganization. This should be avoided at all costs since it is very expensive, time consuming and a major distraction. However sometimes it is the only available option other than shutting your doors. Chapter 11 is usually the best answer where selling assets, selling the business or parts of the business is part of the the turnaround plan.

I hope this helps and while it addresses many points there are always more depending on the business. The following is right from my Turnaround Consulting Site

Do you worry about running out of cash?
Do most of your key vendors have you on COD?
Have checks issued by your business bounced?
Are revenue trends decreasing and accounts payable increasing?
Have any of your valued employees left for a “better opportunity”?
Are you spending all of your time fighting fires?
Do you wake up at night fearing you will be out of business?
Do you fear you will not have enough cash to meet your next payroll? What about the next?
Are you thinking or have been advised that a reorganization of your business under Chapter 11 of the US Bankruptcy code may be the answer?

“If You Answered Yes To More Than One of These Questions, Then You Need To Call Steve Pohlit at 727-587-7871 Right Now. That Is My Direct Line. I Will Personally Determine If I Can Help You Solve Your Business Problems or Refer You To Someone Who Can. This Call Will Cost You Nothing and May Well Save Your Company.”

____________________________________________________________________

There are two reasons why companies ask me for business consulting assistance:

 
1. They know what to do but want an independent third party experienced business development consultant to drive the process as that approach demonstrates management’s commitment to achieving the goals.

 
2. Management understands the need for improved performance and understands they do not have the experience to implement what is required.

 
3. There is actually a third reason and that is where a business is in a crises situation and turnaround business consulting procedures need to be implemented fast. Nobody likes that situation, even the consultant. However, many companies can be salvaged with the right action. Think of the what goes into action when a person has a heart attack. Timing and action are the differences between life and death.

Sending all my readers the energy of vibrant health, happiness and prosperity.

Steve
http://irconsultinginc.com

Steve is the President of International Business Consulting Resources. His firm specializes in guiding companies and their employees to achieve their highest potential. Many of Steve’s business building articles can be found at Steve Reports and his prosperity building tool is The Prosperity Tool Chest

Email Steve or call him directly at 727-587-7871

PS You are invited to review our FREE Report :Top 10 Steps For Making More Money With You Business Starting Now

I am sick of it and you should be too. I am hearing the increasing chatter from company owners moaning about the economy, the value of the dollar, employees wanting more money to pay for gas. These and all the other doom and gloom comments and reports are all just lame excuses.

One of my clients said to me just this morning “Steve I hear all the noise about the economy but you know I am booked through August” This is a business whose 20 year history shows a distinct slow down in the summer months. Well my friend decided not to buy that plan this year and his business is booming.

I hear complaints about tight money and the value of the dollar. When I purchased a chain of retail stores in the 90′s I paid an effective interest rate of 21% to get that deal done. Can you imagine an effective rate of 21% Guess what? All turned out fine.

Did you ever have an entire business stolen? That happened to me. True story and it was a company where I had invested a lot of personal funds – a lot.

I can tell you about business success and failures all day and all night. The real value in these experiences is in how I have molded them into action steps that will help your business make a lot more money.

 Click Here to access the report. If you have any questions please visit the site I have set up for questions which is Ask The Consultant

Sending all readers the energy of health, peace and prosperity.

Steve Pohlit

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. I am building my practice and welcome new client inquiries. Call me for a fee consultation at 727-587-7871 Remember many of my business building articles can be found at Steve Reports and my prosperity building tool is The Prosperity Tool Chest