Pro-bono group helps businesses

Sharon Renn has owned and managed her own cleaning services company in Westmont since 2003. Sales had dropped off significantly in the 2008-2010 economy.

Sharon realized she needed expert advice, and she needed it quickly. She had just received an e-blast from SCORE (Service Corps of Retired Executives) alerting their previous clients to the services of the Turnaround Management Association's Pro Bono Committee, so she contacted TMA at its website, chicago.turnaround.org.

TMA is an industry association of business professionals who focus on solving the problems of distressed businesses. Headquartered in Chicago, its members have experience in finance, marketing, legal, operations, strategy, real estate and other disciplines critical to business success. For many years, TMA has offered free turnaround advice to small businesses who could not otherwise afford the services of a turnaround firm.

A small change in customers, revenue, or costs can have a major effect on a small business. Often the client just needs some expert advice to move in the right direction, especially if they know to reach out to us early enough.

Steve Hansen of LSQ Funding Inc. encouraged Sharon to set a goal for the size of the business three years in the future, and then set annual sales targets to guide an action plan. Sales had fallen by 23 percent from 2007 to 2009. Sharon set a goal to increase revenue by 20 percent in 2010 and 30 percent annually the next two years. Steve and Sharon decided to focus on increasing commercial sales to reach revenue goals. Today, sales are up, including a major new account that will grow revenue 15 percent.

The Chicago/Midwest Chapter of the TMA's Pro Bono program provides up to 40 hours of free assistance from knowledgeable TMA members to distressed small businesses who otherwise could not afford their services.

Tom Gray

Lisle

Co-chairman, TMA pro bono committee