Date: May 22, 2020

Author: Counteractive Media


Comments Off on Recession-proof your business

Recession-proof your business

Are you feeling captured in this whirlwind of overheads and salaries that need to be paid, while you’re unsure when you will land your next sale? It is as easy as 1 – 2 – 3 – 4 …. Increase sales, drive down your costs, check your overheads and increase productivity will increase net profits. Is it really this easy?

We want to help you to be prepared to go back to business and to make sure that you are tightening the ropes even more. You are in for a bumpy ride, but by being diligent you can get through this and have a stronger business than before.

  1. Increase sales

Now is the time to look at your sales process and ask these questions:

Where do I get my clients?

How do I get my clients?

What do I do to get my clients?

You must review your current sales system and make sure that you are changing with times to improve your processes to increase sales. More importantly, how can you get your clients to pay faster for your services, as a sale without payment is not a sale.

  1. Decrease cost of sales

Now is the time to renegotiate your input costs with your suppliers. Coopetition is where you and some of your fellow smaller business owners buy together from suppliers to increase volumes and decrease price. This will result in some direct profit.

  1. Overheads

Relook at all your current monthly expenses and rate the relevance there of, is it something that you need or is it just a nice to have? What can be outsourced on an “as and when needed” basis and what can I get rid of? How many expenses are continuously been paid monthly without being checked?

  1. Salaries

You must look at your team and make sure that each individual knows what is expected from them, where do they fit into your business and what are their responsibilities.

We care about your business and the people you are helping through your business directly or indirectly. If I could guarantee you a better business in the next 6 months would you be interested?

Contact us for help with your financial management planning.

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