SMB Planning in Bad Economy - Counting our blessings (assets)

Well it has been a week since we decided to assess our current situation. Putting on paper the assessment was a very interesting process. We had to take a step back and look at everything with a fresh set of eyes. We played a little role playing game: The rules - explain to someone who does not know anything about our company:
1. Who we are
2. What we do
3. What we have to offer I am sharing with you a summary of this assessment.

Our Base - About 80% of our business is devoted to serving Chemical manufacturing Plants. The software our principal owner helped developed almost 15 years ago for the production of chemical hazardous labels was our main line. Over the years we have constantly improved on it and expanded it based on our customers' request and needs.
Assets -

1. Software: We have two main software packages:

• DrumWizard Suite - a full featured software that includes a product manager, print manager and very sophisticated label design we integrated in (Nice Label Pro).

• DrumWizard UPM (Universal Print Manager), it is very similar in nature. The difference is that The UPM connects directly to a company's own data source. Of course we have it as a stand alone or enterprise level.
• Variety of small barcodes and label applications we created for small businesses.
  

2. Experience: Vast experience in labeling needs, planning, assessments, designing solutions, integration and implementation..

• Knowledge of industry, business processes, software, databases, hardware,
• Reputation: we have great reputation among our current customers and vendors we work with. (I think that this was one of the most important assets we have. We just never thought of it in terms of asset.)
  

3. Loyal customer base: our customers include companies such as General Electric, AirProducts, Shell Canada and others like them. (This is not an endorsement from any corporations, but we do have letters of recommendations from them and others.)

4. Good relationship with vendors: Example is NiceLabel. We have worked with them almost since they started marketing in the U.S. . We have integrated their software into ours to the satisfaction of many customers.

5. Excellent employees - our employees are loyal and are totally buying into our plan.

6. Financial resources: Good relationship with banker (although we do not trust anything to do with the bank.) Access to several small credit lines. Now it is "off to see the wizard" - taking the assessment and turning it into a workable plan.

Why it is good to be a Small Business in Bad Economy

Seeing the big guys go to beg in Washington fills me with both anger and frustration. Our bottom line probably just looks like one little line item in their balance sheet. Yet, here we are - we the small business owners, are not begging for the government to save us. While the big business and investment bankers are figuring out how to get money from the government, we are sitting here thinking how we can improve business to serve our customers better.
The big advantage to being a small business is our ability to work quickly and adapt very fast to new situations. We do not have to devote hours to office politics and getting through committees and other cut throat practices. We are noticing a slow down. Companies are taking longer than usual to make purchasing decisions. The story is the same: budgets were cut or frozen mid-year.
The six million dollar question is: what can we do about it? Our plan is simple: assess our current situation, come up with a plan and execute.
Time Line: Assessment - 1 week Plan: 2 days Preparation to implement: 2 months Execution:On-going.

IKE - the storm from hell

IKE - the storm from hell Two weeks, two &!#$% weeks without electricity. Never in my life did I think that living in the 4th largest city in the USA will feel like living in a third world country. The night of the storm was scary. At 10:00pm we lost power. Transformers were blowing all around us in crazy green and blue colors. It was like an eerie fireworks display. The next morning, we came out to assess the damage. My car had a new hood ornament in the shape of the tree that used to be on the side of the house. The street was blocked by trees and brunches. The neighbors came out. We all tried to figure out we needed to be done next. It was Saturday, so we assumed that we will probably be without electricity for a day or two. We were prepared for that. Everyone put their hands together and we started to clear our street. Three hours later, our entire neighborhood was clean. Piles of trees were nearly packed in front of our houses; the streets were free of any major derbies, other than the electrical polls that landed in the middle of the street. We set up a barbecue block party that evening. We were hopeful. The weather was nice and cool. That was what we call in “techie” the demo version, Microsoft style. By Tuesday, we still had not electricity, no grocery stores, no gas stations and no one at work. The ice trucks did not come on time – as was promised by FEMA, but in true Texan spirit, our Mayor and County Judge contacted a local grocery store chain, and they brought in the ice. They brought us MRI’s that needed to be microwaved?!?! We had one old fashion phone; you know that one that does not need electricity to work. Our cell phones did not work either not even for texting. We were disconnected from the world. The local TV stations, along with several local radio stations broadcasted as if they were radio stations. The anchors at the TV station kept reminding their reporters that no one can see anything, and they have to describe everything. The National news apparently stopped reporting about our situation after about four days. On the fourth day, they started bringing generators to town. And here we were, with one computer on, no internet, no email, no fax, just one phone line, and no cable. I had to explain to our customers that we have to do computer work to candle light. On the other hand, we truly enjoyed the spirit of the community around us. Everyone was helping, and sharing. Even at the darkest moments that is always something good that helps bring the light on.