Strategy to out of the Crisis, Undergoing a business is not an easy job. There will always be obstacles and barriers that are ready to test in front of us. If we are not prepared to risk, our business will go bankrupt. The common obstacle faced by entrepreneurs comes from various factors such as external factors and internal factors. External factors are factor which come from outside such as the state of the domestic political, economic and social of our country while the internal factors are factor which come from inside such as the ineffectiveness of marketing, lack of capital, and human resources that are not qualified. These factors can make our business destroyed.
Then how do we emerge from the crisis in our business? The following is strategy that can be used when we are on the verge of bankruptcy.
Pressing expenditure
When your business is in trouble, cut you expenditure that is not too important. The existing funds is better to be used for saving your business such as expanding marketing network and improve marketing and product. This is done to optimize the available funds in order to continue your business.
Innovating
Although you’re having trouble in business, keep innovating by creating new strategies in running your business. If the product has started to lose its customers, make innovation or new variants on your product such as innovating in new flavors, new packaging and others. Creating a new marketing strategy is also important to do so that your product will always be remembered by your customers.
Get Business Partners
If you have a problem in getting capital, finding business partners will greatly help your business. Look for business partners or investors who want to invest in your business. Make a clear agreement about the investment you have to offer so that prospective business partners will invest their money.
Those all are the proven strategies that you can use in running your business when your business in crisis. Keep trying and do not easily to give up because business requires hard work and time to develop.
