The steps, an overview
Step 1: Make a SWOT analysis
Determine the strengths, weaknesses, opportunities and threats for your business with a SWOT analysis. Follow 5 simple steps to get started right away. Also, see if your finances are in order and what you can improve.
Go to step 1Step 2: Improve your cash flow and cut costs
Can you expect a profit or loss in the coming years? You can find out by making an operating budget. This will show whether you have enough money to pay your bills. Take measures to improve your cash flow and see how you can save money and cut costs.
Go to step 2Step 3: What else you can do
Maybe you prefer dealing with the day-to-day running of your business. For example, working on your products or services. But sometimes it is smart to pay attention to other things as well, like marketing. Find out how to expand your customer base and what marketing can do for you. Also, check whether you are still charging the right price for your product or service.
Go to step 3Step 4: Consider financing
Financing can help you get your business back into better financial shape. There are several options to choose from. In this step, discover what best suits your business and your needs.
Go to step 4Step 5: Ask for help
Your business was running well, but now times are tougher. It is good to know that you are not alone. You may already be getting help from people around you. Did you know that there are also several professionals available to give you tailored advice? Find out where to take your questions.
Go to step 5Customised advice from the KVK Advice team
Call the experienced advisors of the KVK Advice team. They will help you think about the next steps to get you through the low point in turnover. For example, they will give you savings tips and advice on forms of financing, schemes and subsidies. Call 088 585 22 22.