The down turn of economy has affected many sectors. It is nerve wrecking thing to clear off salaries,
pending taxes and other major dues when the workings are not functional in the market or all
strategies seem to be in vain. At this point of time, experiments will not work but experiences will
surely work wonders. If you are confused on how to make your next move, then here are some things
that are surely worth implementing.
Infusing technology updates to employees: - The new move is doing things online, one of the major
advantage of this technique is saving on travelling cost and at same time earning brownie points by
having one on one interaction with clients.
Striking a balance between inventories and unnecessary expenses: - Don’t saddle up your sales.
Supposing if you think an item is slow moving then stocks it up to half but don’t let your sales go. Extra
inventories could tie up your cash flow and we cannot afford to take a risk in the volatility markets.
Ensure that there is contingency plan involved in your entire strategy.
Work on training your stuff:- The low costs are the best time to train your employees and even
upgrade skills. Instead be focus on giving on job trainings or digital trainings.
Rent your extra space: - As the rented office spaces are more in trend and if you thing that the rent
in present times are taking toll on your profits, this is your time to sublet the space.
Gain the extra edge of marketing by deploying sales people: - We are not saying you to go overboard
with your sales team instead hire one or 2 more to get ahead of your competitors and win the business
in your favour. This part will also focus on that you are willing to give quality services and support as
and when required. Instead of short term gains, try to fix in some long term contracts.
Don’t hesitate to share piece of advice or necessary elements with your employees too. Keep the
productivity morale on and it’s high time to capture potentials for the good future tomorrow!
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