A crisis can come for many reasons. For example, due to general market instability, ineffective management or an incorrectly chosen development strategy. Of course, the problem is much easier to prevent than to deal with its consequences. But it happens that any actions of the management staff cannot prevent a crisis. And then you have to work in extremely unstable conditions.
Instructions
Step 1
Reduce costs across the board. Perform personnel cleaning. Fire employees who are doing their job in bad faith. Their responsibilities can be divided among the existing employees. Or hire people who will perform the same functions better. Each person should do their job perfectly.
Step 2
Fire employees who are not required by the firm. It is not worth spending money on actions that are secondary to the organization. It is not worth maintaining large staffs if you can get by with fewer staff. In many organizations, the staff of accountants is unnecessarily inflated. If you have a similar situation, leave only a small number of conscientious employees.
Step 3
Reduce rental costs if the premises are not yours. You can refuse some premises or negotiate with the owner about a reduction in fees. Try to minimize your utility bills and stationery costs.
Step 4
Monitor your competitors' performance. They may have changed prices or expanded the area of activity. Analyze how much you need such changes. Introduce rational changes to the firm.
Step 5
Expand your areas of activity. Think about what additional products or services you can offer to the consumer. Analyze the level of costs and projected income. If the changes pay off any time soon, put them in.
Step 6
If you manufacture any goods, reduce the cost of packaging them. For example, cheaper materials can be used.
Step 7
Drive sales. This can be achieved by changing the motivation system of the sales department. Increase the percentage each manager gets on the deal and cut their salary. Supervise the sales department.
Step 8
Increase your ad spend. Look for new opportunities to increase your product awareness. Be sure to promote your site in various search engines.
