14 Things Leaders Need To Do

< p > < strong > 1: assess strengths and weaknesses.

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< p > know yourself.

If you know that you have any problems with your business, correct it now.

These defects may cause damage to you.

Similarly, looking for new ways of giving play to your strengths, you need them more than ever.

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< p > < strong > Two: implement internal improvement and monitor cash flow.

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< p > cash is king.

Make sure your credit limit is enough, and pay more attention to < a href= "http://sjfzxm.com/DESIGN/designer/index.asp > cash flow < /a >.

If your working capital is short, you can deal with it through cash flow rather than on the profit and loss account.

Closely monitor cash flow data and prepare for action.

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< p > < strong > Three: classify customers.

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< p > to decide which customers are good profits and which are not.

If some customers are spending resources, they either raise their prices or no longer cooperate.

You can't afford long-term non-profit customers, and now you need to "streamline" customers.

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< p > < strong > Four: improving workflow.

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< p > if there are additional costs in the engineering process, they can be pressed out so that the business can operate as efficiently as possible.

Perhaps you can make use of an evaluation system like "total quality management".

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< p > < strong > Five: reconsider sales strategy.

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< p > identify the most profitable products or services, and focus on sales forces accordingly.

Use < a href= "http://www.91se91.com/news/index_s.asp > gross margin < /a > as a measurement index, or use the rate of return on investment.

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< p > < strong > six: increase marketing efforts.

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< p > what is the first thing a lot of companies will do to cut costs? That's the worst thing: cut marketing spending.

Research shows that The Mobility Company will gain more returns in the future when the economy is weak.

In addition, marketing companies are facing a shortage of business, so you can get better prices.

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< p > < strong > Seven: increase throughput.

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< p > in a weak market, customers often buy in small quantities.

Do not refuse small orders, try to adapt to this situation.

If you can respond promptly without making major adjustments to the workflow, do it and bring rewards.

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< p > < strong > eight: reexamine the salary system.

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< p > now you need to make the most of your employees.

If we haven't reached the maximum level, we will start implementing performance appraisal, and we will link < a href= "http://www.91se91.com/news/index_z.asp" > salary < /a > to performance.

Think creatively: can we improve result oriented bonuses and reduce basic wages? Remember, for most small businesses, wages are the biggest cost.

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< p > < strong > nine: negotiate with suppliers to reduce costs.

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< p > take rents as an example. If the rent is due in the next few years, it is necessary to propose a longer term lease contract on the condition of price concession.

Or if you pay the supplier very fast, you can get price discount and extra discount on this condition.

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< p > strong > ten: seek outside opportunities and create strategic alliances.

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< p > forming a simple partnership can save you money.

Consider group buying, sharing rent and equipment sharing as ways to reduce costs.

Another idea is: can the sales representatives and export agents of the manufacturers have the ability to help you promote sales? < /p >

< p > strong > Eleven: targeting competitors' customers.

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< p > if your competitors are facing difficulties, then try to win over their big clients.

If these customers feel that the quality of the original product is declining or they are afraid that the service will be interrupted, they may be willing to turn to you.

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< p > strong > twelve: better competition is the acquisition of competitors.

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< p > if you have the conditions to buy a dishonest competitor, consider it. Of course, takeover should promote your own strategic goals.

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< p > < strong > thirteen: always pay attention to external changes.

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< p > pay attention to fresh ideas and opportunities.

Keep pace with news and trends.

Interact with other entrepreneurs and see what they are doing.

Learn and learn from what is happening around you. When opportunities come to you, be prepared to catch them.

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< p > < strong > fourteen: update the staff.

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< p > nowadays many talented people are looking for jobs.

If you have been using mediocre employees, you know they are dragging your business.

If you can't keep their performance up to standard, make some changes with your hands.

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