We, and also many others, have talked about these subjects inummeral times. Here is once again – as tips. The basic rules to be kept right for business survival. Before we start one note, the most fundamental way to ensure survival is to keep the basics right’.
• Effective utilization of resources. ensure that no resource is wasted.
• Diversifying products. So that drop of one product does not make any significant impact on your business.
• Reaching to large number of customers, so that no any one customer/customer group can decide your business future.
• Keeping the strategies right and up-to-date. Strategies involving manufacturing, marketing, selling, customer service, office management, issues, and anything else.
• Keep the backups open. Make sure that you are prepared for overcome at least a day of stagnancy in collateral, website crash, malicious intruder attack, database problems.
• Keep your nerves cool. Over reacting to impulses are bad, especially when there is not minimal planning behind them. Analyse all things and market the right move, for continued survival you don’t have to defeat all.
• Respect everyone and every force. Neglecting persons, events, issues and factors.
Many times slowing down of business processes becomes necessary
Business survival. Situations like economic crisis, inadequate money flow, over-competition, seasonal changes, and customer preference changes, all necessitate businesses to slow down. The slowing down strategy really work for small and medium sized bodies
It is also a good business tactics to slow down businesses when one of your competitions is going extremes with their advertising and marketing strategies. Let them burnout of their resources and then you can easily defeat them with the resources you reserved. In danger many businesses try to hasten their process to overcome the danger, but often it is the slow and steady approach that wins the race, because this strategy provides you with enough time and resources to Acclimatize to the situation and to amend your business action plan any things which are to be considered when slowing down your business.
• You have to keep the basics right – good
• produce
• good marketing, good sales and good customer service.
• Make sure the slowness has a positive effect on your resources.
• Keep a lower limit for speed according to your
• financial status
• cash flow resources and competition. Never slow down more than needed
• Frequently evaluate your strategies, practices and resources. Bring things back to speed at the right time
• Keep a definite time limit. And think positively.
Rewarding the customers who are loyal to you and have experienced your service/product for a reasonable amount of timeis good customer retention and marketing strategy. But this rewarding process should be well planned so that it will benefit both your company and customers. Here are some tips for rewarding your loyal purchasers
One very good practice is to make plans and offers.
When ever you find a
brand new purchaser teach them about the rewards/benefits they can get by being your customer for a period.
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