Save Your Small Business: 10 Crucial Strategies to Survive Hard Times Or Close Down & Move on

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Nolo, 2009 - Business & Economics - 316 pages
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Stay in business even through tough times with these simple, quick steps to small business survival.

Small businesses are vulnerable in tough economic times. Undercapitalized and with little experience coping with the legal and practical issues that come up during recession, many businesses fail as their profit margins drop and clients pay late -- if at all.

Save Your Small Business, written by a business owner who has survived three decades of challenges and economic downturns, provides 10 no-nonsense strategies designed to protect your personal assets from creditors and survive the current recession. You'll get practical advice to tackle such concerns as:

Can my business be saved? Which are the most immediate and effective cuts I should make? How do I pay bills, negotiate debts -- and still make sure everyone in my office is paid on time? How can I creatively and effectively market my business on the cheap? How can I sell high-margin goods or services to get back in the black? How do I make sure my personal assets aren't vulnerable to my business' creditors?

In these tough times of falling demand, impatient creditors, tight credit, and fierce competition, staying in the black is a constant battle, requiring smart moves and decisiveness under pressure. Save Your Small Business shows you how to weather the economic storm, including how to proceed when going out of business is inevitable.

 

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Contents

2 Dont Ignore Bad News
25
3 Control Your Cash Flow
39
4 Minimize Liability for Your Debts
69
5 Concentrate on Whats Really Profitable
103
6 Innovate on a Shoestring
117
7 Identify Your Customers
141
8 Dont Waste Money on Ineffective Marketing
153
9 Handle Layoffs FairlyAnd Keep Your Best People
175
10 Dont Work Too Much
201
11 Work With Your Best Competitors
213
12 How to Close Down Your Business
223
Bankruptcy and Its Alternatives
255
Appendix How to Prepare a Profit and Loss Forecast and Cash Flow Analysis
283
Index
301
Related Products
323
Copyright

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About the author (2009)

Bethany Laurence joined Nolo as a legal editor in 1997. She holds a law degree from University of California, Hastings College of the Law, a B.A. degree from Boston University (Phi Beta Kappa, magna cum laude), and is a member of the California State Bar. Laurence has combined her legal and financial expertise to edit many Nolo small business books and online software applications over the years. She is the co-author of Business Buyout Agreements: A Step-by-Step Guide for Co-Owners, Save Your Small Business: 10 Crucial Strategies to Survive Hard Times or Close Down & Move On, and Bankruptcy for Small Business Owners: How to File for Chapter 7. Laurence also blogs on small business strategies and legal information for business owners onNolo's Small Business Legal Blog.

Beth also edits Nolo's Guide to Social Security Disability, having worked in a legal clinic helping Social Security disability applicants apply for and appeal denials of disability benefits, and California's Workers' Comp. Using this knowledge, she created and updates Nolo's newest blog on Disability.

Before joining Nolo, Laurence worked as an electronic legal product developer at CCH, Inc. (a division of Wolters Klewer, Inc.), where she created some of the first legal online and CD-ROM products. Over the last decade she has been active on the board of directors of several local environmental and educational nonprofit organizations.

Ralph ""Jake"" Warner,  a pioneer of the do-it-yourself law movement, founded Nolo with Ed Sherman in 1971. Nolo began publishing do-it-yourself law books written by Jake and his colleagues after numerous publishers rejected them. When personal computers came along, he added software to many Nolo books. When the Internet arrived, he championed the move online, where Nolo published huge amounts of free legal information.

In addition to running Nolo for much of its first 40 years, Warner was an active editor and author. He wrote many books, including Retire Happy: What You Can Do Now to Guarantee a Great Retirement and Save Your Small Business: 10 Crucial Strategies to Survive Hard Times or Close Down & Move On. Today, he operates a storytelling repertory group, Jake's Tales, devoted to keeping alive the tradition of telling children wonderful stories.

Warner holds a law degree from Boalt Hall School of Law at the University of California at Berkeley and an undergraduate degree in history from Princeton.

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