Measures,Take,Tough,Economy,In DIY Measures to Take in a Tough Economy
Normal 0 false false false MicrosoftInternetExplorer4 /* Style Definitions */ table.MsoNormalTable{mso-style-name:"Table Normal";mso-tstyle-rowband-size:0;mso-tstyle-colband-size:0;mso-style-noshow:yes;mso-style-parent:"";mso-padding-alt:0in When starting a new work at home business it is very easy to become consumed by it. We spend so much time trying to get the business up and running that we may end up becoming burned out and lose our motivation. There is so much to learn and
As an International trade business, your import and export volume will certainly be influenced by the economic climate. So what do you do? For sure, there are measures that you can take to weather the storm ahead.1) Human resource restructuring.Now is the time to take a look at your resources at hand. Do a staff review to assess the strength and weaknesses of your staff. The goal is to attain higher efficiency without incurring additional cost. You won't have the time to conduct such reviews when the economy is good. So why not take the chance to sit down with your staff and work things out?2) Systems upgrading.For any import export business, communications is very important. If you have been feeling frustrated about your communications processes (both with customers and suppliers), now is the time to do a systems review. Make a list of all your communication tools - computer systems, mobile gadgets, phones, etc. If it's time for some old systems to go, just let them go. You will be better prepared to handle the sales volume when business picks up.3) Expenses review.Do an expense review to see where all that money has gone. This is the time to freeze all sorts of unnecessary expenses. For example, training programs by external consultants may be postponed to a later date. You may be surprised at some of the items that come up in your expense review! 4) Conduct internal staff training.Instead of hiring external parties, make use of the opportunity to conduct internal staff training. You or your managers can conduct the training. This will help prepare newer staff for the road ahead. When business picks up, such training sessions are almost impossible to conduct due to lack of time. So take the chance to upgrade the skills of your staff without incurring additional expenses.5) Keep in contact with suppliers and customers.Don't think that just because things are quiet around the office you don't have to keep in touch with your contacts. Make some calls and send some emails just to find out how your business associates are doing. Keeping in close contact allows you continue building the relationships (very important) and at the same time, keep in touch with market sentiments.6) Source for new customers.When times are good, you barely have time to source for new customers. Make full use of the time you have in your hands to make some new contacts. You never know when a contact may become a valuable supplier or a good customer some time down the road. You can make use of trade lead directories on the Internet to establish contact.There are many measures that can be taken to weather the storm. When the storm blows over, you will be in a much better position (as compared to your competitors) to take advantage of the opportunities ahead. You reap what you sow. Your efforts in cost reduction and staff training will eventually pay off.
Measures,Take,Tough,Economy,In