You should talk to your accountant - assuming, of course, that your accountant does more for your business than simply add columns of numbers.

In fact, you probably should do more listening than talking. A savvy accountant with clients in a variety of industries likely has a perspective that's worth hearing.

Besides, asks Tony Massaro, "Who else does a business owner have to turn to for advice? Employees have their peers in the company, but the owner sits alone."

Well, maybe a banker, if you can find one who will talk to you. Maybe your attorney. Perhaps members of your advisory board, if you have one.

But Massaro, whose question was mostly tongue-in-cheek, is right. Your accountant knows not only your business but others that have experiences that can be shared.

You're right, too. Massaro is an accountant, a partner at Porte Brown, LLC, an Elk Grove Village-based CPA firm. Porte Brown is not our firm's accountant, but Massaro's awareness is something I've come to respect.

So, Tony, what are you saying to your clients as 2009 and - hopefully - the recession wind down?

"First, I don't know that we're out of the recession," Massaro responds. "Some people are up, some are down. It's really not a surprise, but businesses that have been managed well have done much better. The others really are hurting."

From here on, the words belong to Massaro:

• You'll like this one, Jim. I tell our clients they need to market and network heavily. When things really start loosening up, you want to be there.

• Let your old customers know you're still here, but know what their credit standing is. Don't take business just to take business. Watch your receivables.

• Watch your inventories. Make sure you can react quickly if things start slowing down again. A lot of businesses didn't react quickly enough last time.

• Watch employee count, too. A lot of companies, especially in manufacturing, have gone to temps.

• There definitely will be a lot of write-offs, so this could be a good time to clean up your balance sheet. It's going to be bad anyway. Plan for what the banks will want to see.

• It doesn't look like lending is loosening up. Some banks are lending to small businesses as long as they're not upside down, but it seems as though bankers are doing just as well with checking and deposit accounts. They're interested in relationships, not in taking lending risk.

• Margins have shrunk. You're doing the same amount of work but not getting the same profit. Look out for inflation, when people start raising prices.

Now back to me: Massaro isn't the only observant accountant I know. E-mail me if you'd like some names.

• Questions, comments to Jim Kendall, JKendall@121MarketingResources.com.

© 2009 121 Marketing Resources, Inc.