Are you still in the notion of pounced recession claws - that has punched deep loop holes? Are you worried of losing your business? Are you struggling hard to take control over your sales and finances? Well, you're not alone.
Many entrepreneurs of young companies go through harsh phases repeatedly during their initial development stage. Some face financial crises, some face employee management issues while some find it hard hitting the competition.
If I tell you to go for a 2 months sabbatical from today, and see your business only once you come back - what would be your answer? Even a thought might shudder you right? As a young entrepreneur you need to graduate from your existing role. You need to move from your present role of running the show to a new role of building and developing your organization in such a way that it can sustain during harsh times even in your absence. Take your company to 'level two'.
What should you be doing?
As an entrepreneur you need to create an innovate system and give control to your employees and leave them alone in the battle. You need to work on the business rather than in the business concentrating more on its expansion. You need to concentrate more on the market, your product and your infrastructure. Considering all these aspects you'll have to turn on your business in to a self problem solving company. Become a leader than a multi-skilled employee of your company.
What to do if the sales are rising but the profit is still flat?
The very first step you can take is to analyze and then split the functions of your marketing and sales division. You might also dedicate each division to a separate manager or if required, hire an experienced person. Motivate your employees periodically and announce quarterly incentives and bonus based on their performance at various levels.
Remember your time is a 'valuable asset' to the company. Balance the internal systems of your company accurately.