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Dealing With Business Slowdowns
When times are slow for your home-based business, chances are you won't have the luxury of waiting and seeing if things improve. You'll need to take steps quickly to get back on track.
These suggestions will help you get business back to...
How Millionaires Get to Be Millionaires
Money is not just a necessity nowadays; it has become a supplement for sustaining wealth and luxury. Anybody of practical reason who's being asked will have to say that riches should provide for the next generations. Having this thought in mind,...
It’s All About Beliefs
It’s All About Beliefs Changing your mindset can have a significant impact on achieving your goals. We’ve all heard about the power of positive thinking but does it work? How does your thinking influence your actions and get you the results you...
"The Little Corporation Who Cried Wolf" Part 2
So...are you guys all revved up and ready to go? Are you committed to doing whatever it takes to motivate your staff and create a super-charged, mega-energized department?? As we discussed last time, your attitude and motivation level is absolutely...
The Seven Deadly Sins of Management
Pride. Envy. Gluttony. Lust. Anger. Greed. Sloth. You either recognize these as the seven deadly sins or as themes for prime-time television. Nonetheless, you were probably taught as a child that these are bad and you shouldn't do them. For purposes...
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Nine Steps To Stabilize Your Business During The War Of The New Millennium
The atmosphere is one of uncertainty and fear. Emotions are
surfacing and we view life in a different way than we did a
very short time ago. One of the problems is that too many people
are focusing on the war and its negative effects even though the
war of the new millennium is a reality and we don't know how it
will end. We can't stop living because of it.
In spite of these catastrophic events, you could still have a
fatal accident. You could still become terribly ill. It’s still
possible that you could experience sudden death. Even though
these are true possibilities, we don't focus on them. Our lives
don't revolve around these thoughts, or we would cease to
function.
You as a businessperson can do your duty by running your
business to the best of your ability and contributing to the
growth of our hurting economy. Doing so builds strength of
character and helps you increase your ability to cope with
difficult situations.
Though this article will provide you with several tips to
help optimize your business during times of war, you can also
come up with your own ideas.
1. Stay positive. A negative attitude results in negative
actions. If we have no control over the situation, then
what's the use of worrying about it? Distract yourself by
coming up with new ideas to increase your business.
2. When conducting business, keep strong opinions and
emotions about the war to yourself. You may be offending one
of your customers, suppliers, or employees because they may
view the situation differently. Talking about current events
may be unavoidable. I suggest this topic be approached with
caution. Control your emotions.
3. Create an emergency fund. During military action or bad
news, sales tend to slow down for a short period of time.
Your emergency fund will help you through these times. You
can easily start building this fund by transferring a
percentage of every sale you make into it.
4. Collect any overdue revenues owed to your business.
Send out overdue notices, reminders, or make some polite
personal calls. This will help stabilize
your cash flow.
5. Stock up on products and supplies that your business
depends upon, especially if you rely on international items.
You may encounter delays or difficulties in receiving
these products.
6. Take time to do some cost cutting. Focus on areas where
money is being spent unproductively.
7. This is a good time to liquidate all non-profitable assets.
This may consist of stock, equipment, furniture, etc. Have a
sale to eliminate your unwanted stock and place classified
ads to sell off your non-profitable assets.
8. When times change, people’s attitudes change. Look for
ideas that can help cater to your customers needs during this
time. Think of an idea that will benefit your customers and strengthen your business. For example, security is on everyone's
mind. Can you provide your customers with a security-related
product that is associated with your business? Can you provide
extra precautions at your establishment that will make your
customers feel safer? The ideas are endless. Take some time
to think of a few.
9. Keep an amount of cash on hand in case of a network
breakdown and you are unable to use a banking machine. This
doesn’t have to be a large amount, just enough to get you by
until the problem is resolved. These tips will help you
stabilize and strengthen your business during these changing
times.
These tips will help you stabilize and strengthen your
business during these changing times. Always keep in mind that
you have to move ahead and take it one day at a time. Focus on
the positive, and remember that we are all a lot stronger than
we think! To assist you in implementing the concepts in this
article I have provided you with a Excel Worksheet Absolutely
Free. Visit http://www.atouchofbusiness.com/waro/free.html
About the Author
Acey Gaspard operates A Touch of Bussiness.com, dedicated to
providing you with informative business products to keep your
business working at its peak performance. Visit today and sign
up for a monthly FREE newsletter that will provide tips to help
optimize your business.
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