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First Quarter Sales

February 8, 2009


A number of women in my New York State organization of women entrepreneurs have asked me,
“As we face an uncertain economy, how do I plan for first quarter sales?”  

 

I told them, a couple years ago, Pat Laino from the Upstate Women’s Business Center in Utica, New York, spoke about successful businesses creating multiple revenue streams to increase sales and cash flow. She said, “Think of your business as a wheel with spokes and each spoke as a revenue stream. Make sure you offer more than one service or product to keep revenue flowing and sales increasing.”

 

During economic uncertainty, I would suggest women entrepreneurs look at their business “wheel” and see if you have enough revenue producing spokes. You might be able to create and market some new complimentary services and increase your product line without too much time and expense. Use your current customers as guides. What additional services have they asked you to perform? What other products seems to be needed? Are there similar needs in the Central New York marketplace?

 

Review customer comments and analyze your current service and product line. Create some new opportunities, inform your current clients, and promote new business options to the general public. If you do this timely, you could help raise first quarter sales and even sales into the middle of 2009.

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