Strategies for “Making Over” Your Business.
Rayburn Farms
Located in the Southern Appalachian Mountains of Western North Carolina, Rayburn Farms grows herbs and spices which they sell primarily to local craft beverage and artisan food makers. Even though their farm is small, owners Michael and Lauren Rayburn still face the kinds of issues larger farms have to deal with – fighting the elements, managing the growth of their crops, and doing the back-breaking, manually intensive work required to seed, plow, pick, and package their final products.
Our advice:
It’s critical for a seasonal business like Rayburn to manage its cash flow, so we recommended implementing a 13-week rolling cash-flow analysis where Michael and Lauren can plan ahead for outlays and prepare for significant upcoming commitments.

From a marketing standpoint, Rayburn is, at its core, a local company selling to local customers, and that’s really cool. We recommended that Michael and Lauren make every effort to expand their Facebook and Instagram presence, leverage local targeted ads on the social media platforms, while also considering "old school" marketing activities like events and co-promotions with partners in the area.

ProjectMQ
ProjectMQ is a unique kind of company. The brainchild of owners and gamers Marcus and Malcolm Howard, ProjectMQ’s focus is the gaming industry. Its mission is to help connect independent video game developers around the world with gamers and provide support to that niche.
Our advice:
On finances, ProjectMQ should track and reconcile revenue and expenses on a monthly schedule. ProjectMQ relies on memberships and contributions, so procrastinating can lead to a lot of hardship, when every dollar counts.

We were also impressed with ProjectMQ's blog and we advised them to try expanding it as much as possible. We suggested inviting members in the community to post their thoughts, which would help increase engagement and contribute to the site’s search engine optimization. Depending on how many views the company's blog gets, Marcus and Malcolm may even see additional revenue opportunities through things like selling ad space or establishing an affiliate marketing program with other players in the gaming industry.

Puna Chocolate
A company that grows its own cocoa beans and then makes chocolate? Where do I sign up? That's what Hawaii-based Puna Chocolate does. But being in the chocolate business isn't always as sweet as it sounds. Just ask siblings Adam and Teri Potter and their partner, Ben VanEgtern. Because Puna grows all of its own cacao - from a single source of bean grown in the Puna region on the Big Island – the company deals with the challenges facing a typical farmer, like Rayburn. And don’t forget that it manufactures and sells its own products too. That's a whole lot of other things to worry about.
Our advice:
We started with accounting. After reviewing their accounting process today, I advised they start meeting with their accountants quarterly (at a minimum). They should also explore how changes from the 2017 tax reform legislation could benefit their business. That includes looking into their corporate status (S-corp? C-Corp?) to maximize their accelerated depreciation deductions through the purchase of equipment for the business, and making regular contributions towards their tax-advantaged retirement and healthcare savings accounts.


The takeaway.
Cash flow analysis, social media marketing, blogging, AdWords, CRM…these are things that can help nearly every business grow, not just the Makeover winners. The problem is there's not always enough time in the day to do it all. So work with your lawyer, your accountant, a consultant or even a coach to help you with these very important things. It’s a small investment that could result in a big payoff.
About the author.
Gene Marks, Small Business Expert

Small business keynote speaker and CPA, Gene Marks helps small business owners, executives and managers understand the political, economic and technological trends that will affect their companies so they can make profitable decisions.
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The contents of this site are provided for informational purposes only. You should always obtain independent, professional accounting, financial, and legal advice before making any business decision.
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