Elder Forest Products, Inc.

Plant: 1726 West Street, Crowley, LA 70526

(800)256-7197 . (337) 625-8141 . FAX337-625-5275 the tide is turning, how do we insure that our businesses get their fair share of the growth to come?

Last month's column discussed the budgeting process, and certainly while most of us analyze our businesses on a regular basis, the first thing to do is truly analyze what is going on, both in your business, your competitors', and the industry as a whole. If your business is strong, it is time to be bold. Windows of opportunity come and go, so getting a step ahead can make a large difference when the market is about to grow.

This is the time to be investing in new human capital, training, technology, product development, marketing and promotion. It's a time to be developing new lines of credit, and looking for opportunities to acquire poor performing businesses. Businesses have been trading at much lower multiples than three years ago, so this is the time to be looking for bargains. If you are ready to sell your business, this is the time to be preparing for a sale in the next twelve months. There must be a lot of capital sitting on the sidelines.

Review the expense cuts made these past couple of years, and untie the hands of your key people. Conversely, hand-cuff your key people to your company. When the economy gets strong again, it will become an employee market, back perhaps to where it was a few years ago.

Last month I wrote about planned strategic risk. Maybe, just maybe, this is the time to be ahead of the same. not behind it.

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