Running a business in difficult economic times is tough. Here are a few things you might like to think about:
First thing is a budget and cash flow forecast that shows how you get through the next 12 months – in particular, making some conservative assumptions, do you have enough cash at the start to execute the plan, pay yourself, pay the bills and grow without ever running out?
Next is a clear marketing plan. You know that people buy what you sell but you need to make sure you invest enough and take an organised and active approach to marketing in order to achieve the plan.
Finally, your sales process. Many small businesses can be lackadaisical when it comes to manning the phone, turning proposals around quickly, following them up and so on. Make sure you follow a consistent, managed and speedy sales process so nothing escapes.
By the way, effective marketing and sales require a CRM. There is no excuse for even the smallest business not to have one today – they are cheap and easy to use.
If you'd like some support and advice as you navigate these tricky times then you can get those things here.
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