How to improve commercial and financial management during the crisis?
Posted: Sun Jan 19, 2025 10:58 am
Going through a financial crisis is not easy, neither for large nor small businesses. There can be many causes for this problem, and to identify them, it is necessary to have good commercial management of your business.
The crisis can also come from the external environment, that is, the market as a whole may be going through one and you need to adapt to the new scenario. And, to do so, there are several paths that we will list from now on. Follow along!
Review the costs
Did you know that it is possible to cut and control many costs? They can be a major drain on your finances and put your company in the red if they are not managed properly.
Some simple solutions, but which require self employed database from all employees, can be implemented. For example, using both sides of the paper instead of just one, turning off the lights in rooms that are not being used and using digital media instead of paper can make a difference in the bills at the end of the month.
Use technology
At first glance, it may seem expensive to purchase software or a new machine, but if you think about it in the long term, it is a great deal.
A new computer program, for example, can be used to register customers, saving paper and file space that can be used, for example, to store more products.
Using applications and programs that help you financially manage your business can also bring excellent results.
Outsource services
How about passing on to a specialist something you don't like to do or that would be better if done by someone else? You may think that it's an extra expense to hire someone to do something you already know how to do, but someone who has taken courses and has experience in the area will certainly deliver better results.
For example, you can hire someone to manage crises. There are several professionals and companies in the market that do this. They can help you identify what is working, what needs to change, and what needs to be improved.
Increase the mix of products and services
Perhaps you can offer more options to your customers and thus reach a larger market. Look for something that has to do with the niche in which your company is already operating.
For example, let's say you own a bodybuilding supplement store. You could sell, for example, natural foods like dried fruit, gluten-free foods, and also fitness clothing.
Search for a credit acquisition company
Do you need money to get out of the red and keep your doors open? Then the situation is urgent and hiring a company that can help you obtain credit from banks and other companies could be the solution you need at the moment.
This type of company usually has credit with financial institutions and is usually well-known in the market. Therefore, it is much easier for them to get you a loan with lower interest rates than your company.
The crisis can also come from the external environment, that is, the market as a whole may be going through one and you need to adapt to the new scenario. And, to do so, there are several paths that we will list from now on. Follow along!
Review the costs
Did you know that it is possible to cut and control many costs? They can be a major drain on your finances and put your company in the red if they are not managed properly.
Some simple solutions, but which require self employed database from all employees, can be implemented. For example, using both sides of the paper instead of just one, turning off the lights in rooms that are not being used and using digital media instead of paper can make a difference in the bills at the end of the month.
Use technology
At first glance, it may seem expensive to purchase software or a new machine, but if you think about it in the long term, it is a great deal.
A new computer program, for example, can be used to register customers, saving paper and file space that can be used, for example, to store more products.
Using applications and programs that help you financially manage your business can also bring excellent results.
Outsource services
How about passing on to a specialist something you don't like to do or that would be better if done by someone else? You may think that it's an extra expense to hire someone to do something you already know how to do, but someone who has taken courses and has experience in the area will certainly deliver better results.
For example, you can hire someone to manage crises. There are several professionals and companies in the market that do this. They can help you identify what is working, what needs to change, and what needs to be improved.
Increase the mix of products and services
Perhaps you can offer more options to your customers and thus reach a larger market. Look for something that has to do with the niche in which your company is already operating.
For example, let's say you own a bodybuilding supplement store. You could sell, for example, natural foods like dried fruit, gluten-free foods, and also fitness clothing.
Search for a credit acquisition company
Do you need money to get out of the red and keep your doors open? Then the situation is urgent and hiring a company that can help you obtain credit from banks and other companies could be the solution you need at the moment.
This type of company usually has credit with financial institutions and is usually well-known in the market. Therefore, it is much easier for them to get you a loan with lower interest rates than your company.