While I am always positive, and in these blog posts and in my online courses I teach small business owners how to grow their businesses, it cannot be denied that we live in turbulent times.
Some industries are doing well. Some businesses are coping very well with the turbulence even if it affects their industry, perhaps they have learned how to batten down the hatches.
However, I’m sure some businesses are struggling. This can be caused by many things from a significant downturn in the industry you are in, to over-borrowing when times were good, and even perhaps to over-optimism or behaving as if everything was the same as before. What can you do if your business is struggling?
This week, I discuss 7 steps you can take if your business is struggling.
Many of these steps are common-sense but forgive me if I say that when you are working your butt off and there is no respite in sight, the obvious is not always so obvious and someone has to say it to you.
The video is longer than my usual videos, at 8 minutes, but I felt that the subject deserved the time.
Watch the video and see which of these steps you can take right now.
Well, I hope your business isn’t struggling, or if it is, that you have been able to manage to reduce your expenditure, refinance or increase margins.
If your business is struggling, make sure that you examine each of the 7 steps from the video, and see if you can apply them as soon as possible.
If you would like more business tips and tools please go to my website at teikoh.com and find the many free ideas that you can apply in your business immediately.