Monday, December 29, 2008

Setting Goals for 2009

So, what goals have you set for your concessions business in 2009? While some of you may say that goals aren’t necessary for your small business – especially in light of the current economy. Most business leaders will tell you that you are completely wrong. This is exactly the time when goals are most important for businesses of any size. Just because your business is seasonal, part time or extremely small doesn’t discount the importance of setting up goals. 2009 is going to be a continuing struggle for businesses of all sizes. When compiling your goals for the coming year, keep in mind the old adage, “If you keep doing the exact same thing you will keep getting the exact same results.”

One thing that most business analysts and professionals are recommending is a “back to basics” approach for 2009. Take a look at what has worked well for you in previous years. What were your keys to success? How can you take those keys and exploit them in the coming year to ensure continued success with your business?
Here are 4 basic suggestions to get you started:

1. Cut Costs – Find ways to reduce your expenses, but not at the expense of customer service or product quality.
2. Drive Sales Volume Up – Investigate ways to successfully market your business in a way that will positively impact your sales. This can be tricky in tough economic times. Drop marketing that doesn’t work. Now isn’t the time to waste money on methods that aren’t yielding anything positive for your company.
3. Conserve Cash – Cash is king in any economic arena. Work hard to keep cash reserves on hand. While it’s important to make sure you have equipment, supplies and adequate inventory to operate your business properly, this may not be the best time to go shopping for “bigger and better.” Save the money and keep it in reserve…just in case.
4. Stay Focused – It’s best to keep your goals realistic. Keep your list small and stay on track with them. When you write out your goals, include your reasons for setting this goal too. Why is it important to you? What is your motivation? This information will be helpful down the road when you reexamine your list.

These are just a few examples of some goals to set for your business. We encourage you to sit down, examine your own business and set goals that are in the best interest of you and your business. At, we wish you all a profitable and successful 2009. Please feel free to email us anytime or leave a question/comment here in the blog regarding anything related to operating your concessions business. We would welcome the opportunity to discuss your business with you!

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