Developing a Turnaround Plan
Rule #2: Always ask for more money than you need! If your cash flow projections say you need $500,000, request $750,000 to $1 million. No matter how much money you think you may need, you will probably need more. Don’t try to get by on less.
Survival Strategies
As the spring and summer seasons approach, it is imperative that your company have a well-developed turnaround plan so that your business stays afloat during low-activity periods. Although the following strategies may be difficult to achieve for some entrepeneurs, they are nonetheless critical for managing adequate cash flow and for ensuring a successful future:
- Companies:
- Lett Direct Inc.
Steve Lett graduated from Indiana University in 1970 and immediately began his 50-year career in Direct Marketing; mainly catalogs.
Steve spent the first 25 years of his career in executive level positions at both consumer and business-to-business companies. The next 25 years have been with Lett Direct, Inc., the company Steve founded in early 1995. Lett Direct, Inc., is a catalog and internet consulting firm specializing in circulation planning, plan execution, analysis and digital marketing (Google Premier Partner).
Steve has served on the Ethics Committee of the Direct Marketing Association (DMA) and on a number of company boards, both public and private. He served on the Board of the ACMA.  He has been the subject of two Harvard Business School case studies. He is the author of a book, Strategic Catalog Marketing. Steve is a past Chairman of both the Catalog Council and Business Mail Council of the DMA. He spent a few years teaching Direct Marketing at Indiana University in Bloomington, Indiana.
You can contact Steve at stevelett@lettdirect.com.
