Rescue Your Business From Loss

If you’ve got fewer customers coming in your door, sales are declining, or you’re having trouble paying your vendors, it’s time to figure out what’s broken in your business and make a serious commitment toward fixing it. There is no formula to fit all businesses but there are some typical reasons for small business failure. While every business is different, read further to understand if any of these resonate with you.

To begin with, imagine a day when you and your employees could not get into your facility, buildings, plant or offices for just a few days. Ask yourself what would happen to your business in this situation? It is an easy question that will surely have a very complicated answer.

• If you possess critical systems, could you have maintained them remotely?
• Without access to the building, could you have communicated with customers, employees and vendors?
• Could you have kept the ‘must have’ IT infrastructure systems up and running?
• Could you have accessed your web sites, payment processing and ecommerce systems, healthcare information storage, ERP systems, email, backups, electronic records, file shares, etc. in whole, in part, or at all remotely?

When putting together a business continuity plan use real, consequence-based planning for this exercise. These are the questions that will help you identify what you really need to prepare for, given just a few days of a business continuity failure. When you take these unique aspects of your business into consideration, you will ask yourself the questions that are really important. This is where you ask yourself, for example, “What would we do if our building caught fire”? Make a list of things that are important right away (within the first few hours), and another list of things that will be important later on. Be realistic and be specific for your location. There is no sense doing a consequence-based plan for a tsunami in Kansas City. Start thinking in the right direction.

Use this list to see how prepare you are to handle a failing business:

• Who is my first call to?
• Do I have a way to conference together key decision makers?
• Which employees are key decision makers?
• Which employees are key tactical assets?
• If I have to evacuate the building, who goes where?
• If I can’t get access to my building is there a way I can contact those employees that may be inside?
• Do I have a location I can use as a temporary operations site? Can you make a mutual deal now with another business owner a few miles away?
• Do I have a physical administrative ‘meet’ point, and an alternate?
• Are we able to telecommunicate and operate remotely?
• What contracts, covenants, compliances or laws might I breech during this situation?

If you think marketing is too hard to figure out yourself, or you assume it costs more than you’ve got to hire someone, you’re essentially shutting down the possibility of finding new customers. Not every business owner is born knowing how to get the word out about their business, and that’s fine. The effectiveness of advertising is a highly controversial topic. It has been proven that advertising certainly leads to increase in sales, compared with no advertising.  One study suggests that 1% increase in ad spending leads to 0.05% increase in sales. Simple figures.

Yes, marketing is an investment in time, money, or both, but an essential one. Even small amounts of advertising is capable of getting a consumer’s attention. So, no advertising is useless. But when a business owner’s shortcomings put their business in jeopardy, that’s when somebody must take responsibility and take action. It is always advisable to contact a local advisor to understand the best way to advertise your product. HyperEffects helps you reach out to your target audience in the most effective way, through advertisements custom-tailored for your product and target. A significant objective of advertising is to change the existing attitude- of an individual, a gender, a society or an age group. The attitude of your target audience toward a product refers to his or her beliefs about, feeling toward, and purchase intentions for the product. At HyperEffects, our aim is to make small business owners aware of different advertising programmes available for them to change the existing attitude of the customer. Enrol today for our one-hour free consultation program that is specially designed to achieve this.