This month, I celebrated my first Fourth of July as an American citizen. It makes one think about what it really means to be an American citizen. Among others, it means it’s OK to go about your business and make money. With the rest of the world’s eyes on us, it seems we’ve become embarrassed about that lately. Even in today’s economy we can and should strive to find creative ways to make money.

Last month, I began my column thinking about where business is going in 2010. Whatever our economy throws at us in the next year, we all need to have a financial plan in place. Don’t be afraid to call on the experts. The Arizona Small Business Association (ASBA) is a terrific resource and can help point you in the right direction. You need to know what your financial future looks like – there could be some good news.

There’s so much rhetoric about the economy and how government at all levels is or is not addressing it, we’re losing sight of the fact that we’re in business primarily to make money ourselves. That’s what our focus is, so let’s not get distracted by external issues (as difficult as that may be).

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Let’s talk about making money.

• Have you really got a product or service to sell?

• If the answer is yes, does it really address needs and wants?

• If your answer is yes again, then a transaction will be made – no doubt about it.

When you consider these questions in more depth, if the answer is no and all you have is a dream, you may not have enough to answer the next set of questions.

Those who make money understand any business is dependant on the customer’s point of view. We are there to provide them with solutions. Keeping the needs of your customers in the forefront of your planning, will consistently yield better results.

People who make money make their decisions based on research and probability:

• What will this product or service cost?

• Can the purchaser pay enough to cover the costs and more?

If the answer is yes to both, you will make a profit

Making money is about how much a prospective customer values what you have to offer. The value we put on anything ourselves right now is significantly lower than even a year ago. Do not rely on historical data alone. Keep an eye on the competition’s pricing structure. What should your prices be relative to theirs? If the answer is higher. Then the question is by what margin?

It’s tough to step back and honestly assess your financial health. But it’s better to do that than compromise your physical health by just worrying about things that used to work and are not working now.

It’s an absolute must to make time to do this – talking it through at an impartial level with your accountant or a business analyst for example will add to your strength as a business owner. You will be able to make clear informed decisions. You may even discover new money-making opportunities.

Last week, ASBA board member and President of Talking Trash Joe Higgins presented “Confessions of a Serial Entrepreneur” at our conference center. He shared plenty of his money-making inspiration with the group.

The ASBA website www.asba.com also provides a wealth (excuse the pun) of information about other events and programs we have available to help you make money.

ASBA has been working with business owners for more than 35 years to ensure they have the tools and resources they need to thrive. We’re here to support the business community. Call me, I want to hear how we can help you the most.

Contact Suzette Colley, regional director for the Arizona Small Business Association, at SuzetteC@asba.com or (520) 327-0222. The Tucson office is at 4811 E. Grant Road, Suite 261, in Crossroads Festival. The Small Business column appears the second week of each month in Inside Tucson Business.