It is going to be tough ride for just about every business in NZ over the coming months. Yes; some businesses may not survive however Global Credit Management believe most businesses will do everything possible to get their business back on track.
Here are few suggestions that may help.
*Forget about listening to all the doom and gloom in the media-none of this is going to help your business.
*Talk, talk, talk with mates in your industry, your accountant, other business owners and your bank. Remember knowledge is power.
*When you can, network with other businesses.There are some great networking groups that cost very little to belong to. Not only can they be a source of new business but a great place to bounce ideas around.
*Involve all your staff throughout the recovery process,remembering your frontline staff are your eyes and ears to what is going on in your industry. Be honest with your staff and open to their suggestions.
*It is important for businesses to keep in contact with their creditors and debtors as cash flow is going to be vital over the coming months.
*This is the time for businesses to think outside the square and keep an open mind to new ideas.
*Be fluid in the way you manage / operate your business.
*Act early; make the tough calls if you must and don’t procrastinate.
Challenges will lie ahead but just think back to when you as the business owner(s) first started out in business.There were challenges then and you overcame then.Believe in yourself.