It is very difficult when the business starts giving you trouble. Sales slow down, partners and customers go to competitors. But perseverance, faith in success and the right actions will help save even a business on the verge of collapse.
It is necessary
- - Business plan;
- - analysis skills.
Instructions
Step 1
Try to stop worrying and worrying. Often, thoughts about current affairs do not leave your head (and even make you stay awake at night), but allowing yourself to remain in a state of constant anxiety, you waste the energy necessary to solve problems. Try to calm down. Focus and determine what you need now. Review your goals and focus on finding a way out of the current state of affairs.
Step 2
Analyze your current business model. Find out why the business is failing. This often helps define new directions. In this situation, a specialist consultant can be extremely helpful, as you may be too far from understanding what is happening.
Step 3
Determine what your problems are, where did they come from? Compare your pricing structure to that of your competitors. Perhaps you have exceeded the importance and value of your product or service?
Step 4
Ask yourself difficult questions that are directly relevant to your company. Why have sales of core products plummeted? Where do most of the resources go? Are you trying to expand production too quickly? Take a step back and take a look at your business without unnecessary emotions.
Step 5
Contact lenders. As you work to rebuild and revitalize your business, try to agree on a financial plan with them. Remember, when you have to deal with an avalanche of bills, it is necessary first of all and in spite of everything to pay salaries to employees.
Step 6
Reduce your labor costs. Try to shorten the working week, temporarily reduce the wages of employees. If there are no other options, consider cutting jobs.
Step 7
Make a financial plan to cover all losses as quickly as possible. An accountant or financial planner can help you determine which options are appropriate in light of your circumstances.
