Despite the fact that the financial crisis in Russia was not as protracted as in many countries of the world, many business leaders are finally thinking about how to maintain their positions in the market amid economic instability. How to survive the crisis, which, as it turned out, could begin at any moment?
Instructions
Step 1
Monitor the financial and economic condition of the enterprise. If necessary, develop a fundamentally new strategy for the development of the enterprise, taking into account negative economic factors.
Step 2
Restructure the enterprise, if sufficient funds are available. In order to get the necessary funds, do not rush to take loans for this from the bank, especially since it can offer you conditions that are extremely unfavorable for you in such a situation.
Step 3
Almost any enterprise has illiquid stocks of goods in stock or goods that are sold out almost below their cost. The third category is a product in steady demand. Restore the balance by selling illiquid products at low prices and slightly lower the selling prices for products in stable demand. Use the small profit you received to restructure production. This solution is quite unconventional, but it will help you get the amounts you need in no time.
Step 4
Close for a while the workshops and departments that slow down production (unless this leads to accidents and mass layoffs). Make personnel changes and attract highly qualified specialists to your company, even if this event may seem too costly at first.
Step 5
Reduce the costs of existing production. So if you previously purchased raw materials for several months in advance, agree with suppliers to temporarily reduce the volume of supplies in order to increase the turnover of the enterprise. In addition, such restrictions will help to more efficiently use raw materials.
Step 6
If the crisis has affected not only your company, be as correct as possible with your partners, as they may refuse to cooperate with you at any time due to their own problems in production.
