You may have more cash than you think you do... Let's find it 1, 2, 3!
Step 1
Reevaluate all expenditures – are there any avenues that did not pan out as expected. Can we eliminate or combine any expenses in marketing, training, or travel expenses. Are any redundant?
Step 2
Reevaluate all streams or sources of revenues. Can we find sales from our existing clients? Have we conducted a survey recently? Is our customer loyalty rating as high as it could be? Did we uncover areas to be improved?
Step 3
Decide on goals and specific action steps to increase revenues in at least three areas of the business. Assign targets and dates and who is responsible. Research current trends and see if there are new products or services to add to your lines. Find ways to motivate those responsible for the increases.
Make sure all are onboard and a part of the goal setting. Double check your vision and are these new goals in alignment with them.
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Posts
Very good point about getting feedback from your customers. Consumer behavior and expectations have changed since before the recession. People are not only buying less, but they value quality more. Here is a link to a short article with more specifics on this subject.
ReplyDeletehttp://www.ogilvy.com/News/Press-Releases/March-2010-Eyes-Wide-Open.aspx