How to Survive in these turbulent times!!!

Dear Readers,

When you come in contact with business people as I do on a daily basis, all you hear is how bad things are out there. There is no positive outlook and the bail -out plan to the banks are drawing a lot of criticism for the way it is administered and placed into effect.

Let`s be honest, the whole bail-out plan is being administered in totally the wrong way and it is not benefitting the people it should. Why do I say this during this BILLION DOLLAR bail-out period.

Well the BANKS that are receiving the bail-out is doing the following with it which is totally against the whole idea of the bail-out:

1)They are not making the funds allocated available to the people in the street that it is intended for, so no loans are available for the cash strapped community out there,

2) They are using the money to massage their own balance sheets to impress their share holders with their managing of the banks cash resources,

3)They are declaring dividends to their shareholders, to keep them happy with the bail-out money,

4)They are declaring obscene bonuses to their management staff and directors, all this at the cost of the clients who should have seen this money in their own pockets.

I want to tell you that it will be the worst thing you can do to go onto the markets now. We are living in a day and age where GAS prices are not dependant on supply and demand anymore and one thing for sure, the GOOD Companies are going to thrive in these times, it is just the natural selection process!!

So how do we as individuals and small business owners survive in this day and age?

The following comes to mind and using them as guidelines should assist you and your business in the near future:

1. What does your business actually do, what is your exit strategy, what is your break-even point? You have to know what your best selling product line or service is and build on that,
   
2. Your cash flow is extremely important during these times. You must know what to fix to strengthen it and how to do it quickly ,before it eat up your lively hood, is it space, people or stock you need to rectify,
   
3. You must do MARKET research, what part of your business is seen out there, how good is your service and your product, place a lot of emphasis on SERVICE it is extremely important in any type of business,
   
4. Organize yourself and your business, eliminate any type of inefficiency it does not matter where it is,
   
5. Remember the 80/20 rule. 80% of your sales from 20% of your customers.80% of you troubles from 20% of your customers. Sort out the problem customers because they are surely costing you in efficiency and manpower,
   
6. You must know what is in it for you, if you do not know ,find out or get out now,
   
7. You have to change the way you advertise your business, it must be VIRAL, and this is very important and will help you survive.
   
8. 
   

Keep the head up and implement a few of these and it will make you and your business survive the daily grind a lot better.

Until next time,

Francois du Toit

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