Business is failing fast, you don’t want it to, you want to see things thrive but alas a downturn, is just that a downturn… Now you find yourself at a loss to know what to do to try and fix things.
- What if you put more money into the business, market hard and get no results?
- What if you use any downtime to train your staff and the work does not pick up again?
- What if you don’t make any decisions and block out everything that is going on around you? (Yeah like that will work!)
For things to change you need to change so your business can change.
No matter how big or small your business is you can do something, try these options to ward off the evil death knell ringing at your business door.
- Get the team together – Start brainstorming ideas for better ways to do business, ways to improve service, ideas to market the business in cost effective ways.
- Ask your customers – What do we do well? What could we do better? Are there products and or services we could be offering that we currently don’t? – Now take action.
- Get out and chat to your suppliers – They will know what’s happening in your industry and may have ideas to keep you afloat until things pick up. If you don’t ask you don’t know.
- Keep calm and Carry On! – It worked for the English in the 2nd World War, will it work for your business? Hard to tell… I guess the key idea is to keep your stress levels low and carry on doing what you have always done and weather the storm.
- Innovate – Think differently and find fresh ways to try things, the more you try, the more chances you expose yourself to. If you don’t try how will you know how it will turn out?
- Give up and walk away – Joking… If what you are currently doing does not work something needs to alter. Find out what that is FAST and change.
Try more, do more, get smarter about doing business, use collective intelligence. If you really tried everything to succeed and failed you have the satisfaction of knowing you tried!