Survival Strategy

How will my setup survive?

The consequence of a bad preparation is usually the failure of the business. At early the stage of your setup, factors like the wrong product choice, price, strong competitors and unprofessional presentation of products and services might be some of the causes of this failure. It is therefore necessary to monitor changes on the market and if possible anticipate them, to avoid sudden shocks. You can achieve this by visiting trade fairs, to find out what the new trends in your branch are, furthermore monitor this trends.

What happens in case of innovations:
Think about the future of your business, what chances and risk persist. Think about inflation, about the strategy most competitors are using. It is better to ask your customers what they think about you. Team spirit and transparency are important factors when talking about employees, that is why its important to have an overview here.

Most founders concentrate at the early stages only on products and services.This is of course ok, since it is part of your duty, to first get to know the market. It is also important at the early stage to think of what you can possibly do with the products and services, if you can improve on them, thereby you plan for future growth, which might cause your setup to expand world wide. For such a quick expansion is the internet the test place.

As your Setup grows and expand you might need helping hands to perform your duties efficiently. The type of assignment to be issued to each worker or what terms of employment to be incorporated, is sometimes not as easy as we think. You will need to write a job description for each employee. Through that you can estimate the volume of assignment for each worker and can then decide if you are to hire the worker on full or on part time basis. Also you can better control the daily activities of each worker.