Last week I attended a conference and was given the opportunity to meet and talk to James Dondero, president of Highland Capital Management. It was interesting talking to someone that was higher up than me within the field. He seemed to have a completely professional attitude, but had a humorous side as well. I was able to not only talk about our everyday lives, but work as well. I have been struggling with my company for months now and he gave me some great tips for bringing my business to the land of success. Something that I never thought to be possible.
If it was not for the motivational conversation with James Dondero, I would probably still be depressed about the company and pondering away at how to fix things. The way he explained it to me was that you had to set everything personal about your life aside and place your company in the leading spot. Granite no one can do this every second, it is needed when any company starts to take a turn for the worst. Although my wife may not like the extra hours I am putting in at the moment, it will only help us in the long run.
We have both been nervous about how we will provide for our children and this is the only way out of our predicament. I am hoping that if I spend an extra 10-15 hours at the office every week that I will have the time to place more calls to potential clients, in hopes that they will purchase products from me. The reason why our sales have gone down is because our top customers moved out of the country and unfortunately one passed away just last month. When you lose your top buyers in any business, it tends to put a huge damper on finances and payroll.
Besides me working extra hours, I am also hiring another accountant to help me budget my company a little better than I have been. Although spending a few dollars on meaningless supplies does not seem like much, I am sure taking away those expenses will save me money in the long run. My goal for finances is to put an additional $500.00 away every month for emergency situations. Not having any money put away could put me in a situation that I may not be able to get out without filing for bankruptcy. Right now that is not something I need in my life. So for now I will stick to my new plan and make any needed changes that will help in my company’s success.