The crisis does not have to be just a silence. At a time when you limit others, you can strengthen your position. Let’s advise you on how to orient yourself in the current situation.
Medium and small entrepreneurs should not succumb to the illusion that they are not affected by the global financial crisis and that they will escape it by some sight. “Life has not stopped, not even business. Only if there is anything to think about, not a pension, ”warns Petr Smutn, director of the corporate restructuring department of PricewaterhouseCoopers Czech Republic.
Even if your company does not seem to be endangered, you should now prepare it for a scene that you will use when the manifestation of a massive decline occurs. Here are eight tips to help you with your preparation.
1. Don’t wait for anything
The idea is to evaluate the state of the industry and adapt to the market so that the company is ready for the first signal, which is reduced by demand and orders. In particular, it is now necessary for each company to have a view of cash flow and orders at least three months in advance. If orders and sales fall, you also need to reduce production. Otherwise, stocks will be full and receivables will increase. Then it is necessary to sell out the items and sometimes even sell out unnecessary property, such as you buildings. “It simply came to our notice then. I know of such cases where the company did not react even at this moment. Then there is only a degree, when it is not for wages, for the fulfillment of the volume and vr, ”to Petr Smutn.
2. Don’t fall asleep in a hurry (not even by Christmas)
“Consumers will be able to go shopping until Christmas, but I hope that in the first quarter of 2009 we will see a big drop in consumer goods sales,” said Petr Smutn. The people are struggling to lose their jobs and their breeding will change.
3. Zante etit
The first episode should work on things that bring an immediate effect. These are travel costs, unnecessary costs that can be eliminated immediately: like you, frozen wage increases, limited investment in information technology and fleet renewal.
4. Do not shackle the head
Pro-employee should not be a priority. It will bring controversy immediately, but it is not the one that has an immediate effect. The dismissal decision must be accompanied by other systems of measures. In addition, you should be aware that the board and knees of new employees then carry huge costs.
5. Be careful with the sale
If you sell problems with full warehouses, you need to approach them with caution. Bad for the situation, there are a lot of pensions in the warehouse. Sometimes you can ruin the brand by selling or you can jeopardize sales on pt msce. On the other hand, you can sell out in markets where your characters are not yet. It is necessary to proceed in such a way that the short-term sells out and in the meantime reduces the production capacity.
6. Adapt quickly
The winner is the one who responds immediately to market demand. For example, it is possible to use only the sign, to become only a trading company and leave the production to someone else in the local market. However, it is not always effective to make production to countries with very cheap labor, such as in India. You do not have to control the quality of production and, most importantly, the products are transported a few weeks on the ship. The local market allows flexibility, high quality and the ability to be different.
7. Have a quality full
The short-term and long-term must fully include an estimate of development demand, production capacity must be set for this, and an estimate of external factors such as input prices, energy and wages. The idea is to work with full variants and adapt to the real development.
8. Naute se prodvat
Men esk businesses can produce but not sell. You have to have such a reasonable portfolio, ie not to produce everything, but to focus on tusk products. Specialize so that they do not often have to build a machine and lose capacity.