Politicians the world over will do what they think is necessary to overcome the credit crisis that is largely out of our control, and we can only hope that they will do the right thing. They might even enact some positive economic stimulus measures, with a bit of luck. Of immediate concern, though, is the effect the crisis will have on our economy and in particular your business. And it is your business that we want to help.
Your business is something you have control over and nobody cares more about it than you do. We believe that in order to avoid getting crunched by the credit crisis, you must start taking measures now. More than that, you must act to see that you emerge from the crisis fighting fit to take advantage of the opportunities that will certainly arise as it wanes.
So, what should you do right now?
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Remember that we have all enjoyed an exceptionally long period of growth and how businesses behave during these periods is different to what should be done during a slow down. This doesn’t mean you need to downsize your business. In fact, the chances are that the opposite action, a reorganisation, or some other action may be best for you.
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Start thinking more about your business as a whole – that means reducing the time spent operating your business and increasing time spent on reevaluating your whole business model
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Don’t do anything rash - there is no silver bullet answer. But it’s good to start getting a better grip on how events will affect your business by calmly listening to and evaluating what the market, suppliers, industry contacts, advisors and quality media etc. are saying
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Maintain enthusiasm and keep positive and energetic, always.
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Complete a free Excellerator on-line business assessment to identify your strengths and areas of risk within your business.
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Attend a FREE Enterprise North Shore Credit Combating the Crunch workshop (register here) which will help you get a better perspective on what’s going on in the economy, what you should do about it, and prioritise your actions to see you through troubled times.