Q&A (back to index)
Tips for SMB clients in shaky economy
Posted by Anonymous on 07/23/2009 - 01:16
What are the best tips we can share with our small- and medium-sized business clients in this economy? They've been sitting still for more than six months - how can we advise them as they make plans to move ahead in the remaining months of this year?
- 3999 reads
Stop sitting still and start acting
I would suggest advising them to stop sitting still and start taking action. Now is a great time for many small organizations to start revisiting their business processes and identifying any inefficient or ineffective processes. As their advisor you can recommend areas where redundant controls may exist or where implementing a detection control may provide more efficiency downstream by eliminating preventative controls or time spent trying to correct errors. Also now is a good time to look at whether an organization can benefit from outsourcing any business processes that are not essential to the organizations mission and vision. This is not necessarily a cost cutting measure but rather a way to keep the organization focused on growing their organization going forward. Finally, it should go without saying but if they have any outdated projections or budgets based on assumptions going back 6-12 months they should revisit all those assumptions and revise their projections accordingly.