Barry Schimel, a frequent speaker within the accounting profession and author of four other finance-based books, announced the release of his fifth book - 100 Ways to Profit in a Volatile Economy. The book, which Schimel co-authored with Gary Kravitz, offers a mixture of proven and tested strategies that have been successfully implemented in numerous organizations, as well as new tactics from the 2009 Recovery and Reinvestment Act.
“Today’s volatile economy is putting stress on millions of businesses. They don’t know how to solve their financial problems, and are just frozen, waiting to see what happens next,” said Barry Schimel, CPA. “But now is the time to take action. There is much that can be done to save businesses.”
The 100 strategies work for several types of organizations - from large corporations to small businesses. Strategies focus on such topics as how to straighten out organization and management, manage human resources more effectively, and improve operations processes and systems - all the while generating more profitable sales.
“Profits drive business,” said Schimel, “but when the economy does a nose dive, profits aren’t easy to come by. The 100 ‘ways’ are sound strategies for any economy, and in a volatile one like today’s they are vital for survival.”
Among the 100 strategies offered in the book are:
1. Keep the cash flowing in a tight economy
2. Take every tax break you can - he describes seven smart tax breaks
3. Compare increased sales with decreased costs
4. Make everyone in your business responsible for profit
5. Reshuffle staff duties and cross-train employees to control costs
6. Eliminate work, not people
7. Form an internal cost-control committee to trim waste
8. Establish effective collection practices
9. Challenge your technology security IQ
10. Scale back orders, but pounce on deals
The book includes a mini-action plan for each strategy, complete with action date, person in charge, projected savings or profits, and priority. At the end of book, a Master Action Plan allows readers to prioritize strategies and create a sound plan of action that can be used immediately.
About the authors
Barry R. Schimel, CPA
Schimel is president of BizActions LLC. Previously he co-founded and served as president of The Profit Advisors, a business-consulting firm that coached hundreds of firms worldwide to maximize profitability. He also served as managing partner of a large Washington D.C. area accounting firm for over 25 years. Barry is a highly sought after speaker for trade and professional organizations worldwide. He co-authored several books, including 100 Ways to Profit in a Volatile Economy, All About Earnings, The Profit Game: How to Play–How to Win, and 100 Ways to Prosper in Today’s Economy.
About Gary Kravitz
Kravitz is executive vice president of BizActions LLC and is responsible for the company’s sales and marketing teams. He was also a co-founder and executive vice president of The Profit Advisors, a business-consulting firm that has trained hundreds of firms worldwide to maximize profit potential. He has co-authored a number of books, including 100 Ways to Profit in a Volatile Economy, All About Earnings, and The Profit Game: How to Play–How to Win. Prior to joining The Profit Advisors, Gary was the CEO of a technology-consulting firm that specialized in distribution automation.