Each week we have businesses queuing to discuss the downturn in sales and stress of keeping the wolves at bay. If this does not reasonate with you then we’d say you either are very lucky or you won the lottery. The majority of businesses are in chaos and they turn to us, sometimes too late.
At The Engine, our Advisors, along with our specialist provider community we focus on the action and ROI. We reignite your business and achieve business success – such is our track record. In these challenging times, there are three essential things your business needs right now, along with one crucial action that can save you & your staff money and provide your staff value.
1. Cash is paramount.
It’s crucial to review your business and personal expenditures & lean up, make tough decisions about retaining team members, and strategise to replace lost sales revenue. Seeking help to strategise and possibly restructure is key, and our previous newsletters on addressing tough realities struck a chord with many of our readers.
2. Visibility is vital.
Despite the temptation to cut marketing to reduce costs, it’s important to consider whether all team members are required. Neglecting marketing can lead to your business becoming the best-kept secret, while competitors gain ground. Yes it’s tough to lean up and cut, but without proven key startegies you may be staring at a different barrell. No sales, no visibility = no business.
3. Experience.
If you’re serious about surviving this economic downturn, having experienced advisors is essential. At The Engine, we bring a proven track record of working with businesses from various industries. Our Advisors have been in your shoes (still are), actively involved, and have successfully built and grown companies similar to your aspirations numerous times. Success & survival depend on the expertise you have with you, and our specialist community has the strategic guidance needed for your business and our approach brings about accountability, ensuring that your plans are executed with precision and effectiveness. *Your business may be eligible for capability funding too.
Lastly, join the many businesses with The Engine’s Business Membership – the most sought-after membership in this economic crisis. There is no other business membership that provides cost savings to you and your team. With significant financial pressures facing businesses, our membership offers valuable savings for businesses of all sizes as well as could be the value you need to keep your team when you can’t afford pay increases. Each membership includes a 2-hour coaching session to assess your needs and provide tailored suggestions.
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– Catherine Cooke
Founder and Leading Business Advisor