Your business world is turned upside down things are not like before and you cannot predict what is coming . Uncertainty is high and business risks are eminent. As a business owner there are concrete steps you need to think deeply about,
On personal level
- Sharpen your resolve and love of persistence to fight difficulties and live up to challenges. Change your mode to positive outlook
- The above will instigate new ideas and put you on the wavelength of creativity.
- Use brainstorming and create a group of business owners on social media, bright ideas can flash back
- Through the group collect information
- Increase self-dependency where you can do it, or where you can do it with minimum help. Think of continuity first and let it be your main target
- Believe that you can always reduce the cost and increase busines efficiency and use of resources
- Social intelligence read about and try to acquire.
Road map to SMEs recovery
First step: setting a new seen
- Strengthen business relations and contacts with employees, clients, supply chain providers, other business owners on same activities or vicinity
- Conduct employee meetings to discuss and ask for new ideas and let them gather useful information, give them the feeling of being real partners and lend them an ear and rise their expectations of change in a positive mood.
- External business environment knowledge and update is now critical for you coming step. So, scan your immediate and remote business environment. That is to set a new vision and strategy. That include your market as immediate external environment
- Preferably benefit from local consulting group with low charges.
Second step: Register and revise all
- Workflow, Processes, Structure, Offices, Employees abilities and skills even if they are less than three, Analyze and asses, look for options, Resetting and possibilities of business or market change opportunities.
- Set steps to move to e-business, e-marketing and ecommerce in steps and as possible transformation to digital is modern business model to survive and perfect use of social media.
- Discuss with lenders loans relief period and with suppliers’ new measures and with real state owner’s payment schedule.
- Think about your payroll obligations and possible moves to reduce its commitment
- Put a layout of business strategy and plan taking resource available and money in hand or possible to have.
- Cost reduction + keeping efficient and do not losing quality with analyzing your sales and income.
Believe in that wise cost reduction is always possible on small things.
- Resize your business for cost reduction, in boundaries limits or variety of products.
- Crisis bring new opportunities people are acquainted with so look for new viable opportunities with suitable local demand.
- Government assistance for SMEs in this time is available . So, be well informed about it, do not hesitate to demand it which will reduce your costs and exempt for high charges and other obligations.
- Visit government entities concerned or send emails to concerned economic departments, chambers, and government SMEs funds .Therefore, it will be well and timely informed.
- All business advises be careful not take them for granted.
- No replicated business and like yours even if it is in the same activity and in appearance, Business management services in UAE has its own inner differences in terms of abilities, experts and culture of its owner and employees and organization and customer relations social intelligence. So, you need a consultant having modern business concept and tools to stand by you.
What Scope Can Provide
With an established and tested experience in SMEs we can offer the right guidance and
options for over coming business obstacles. So, We provide: –
- Business Assessments
- Business Environment Scanning
- Busines Diagnosis for New Strategy Building
- Business expansion and growth (Franchise…etc.)
- Business Digital Transformation (E-Commerce, Business Digital Platforms)
- Rebranding your Business
- Business Cost Reduction Plan