Your SlideShare is downloading. ×

How To Handle Business Crisis?

258
views

Published on

No matter how well a small business is doing, it is vitally important to be prepared for crises, which can happen at any moment. Instead of waiting for a crisis to occur and then trying to find a way …

No matter how well a small business is doing, it is vitally important to be prepared for crises, which can happen at any moment. Instead of waiting for a crisis to occur and then trying to find a way to handle it, a small business owner should go ahead and be prepared for the possibility of catastrophe so that a plan of action can be implemented immediately.

Published in: Business, News & Politics

0 Comments
0 Likes
Statistics
Notes
  • Be the first to comment

  • Be the first to like this

No Downloads
Views
Total Views
258
On Slideshare
0
From Embeds
0
Number of Embeds
0
Actions
Shares
0
Downloads
2
Comments
0
Likes
0
Embeds 0
No embeds

Report content
Flagged as inappropriate Flag as inappropriate
Flag as inappropriate

Select your reason for flagging this presentation as inappropriate.

Cancel
No notes for slide

Transcript

  • 1. How To Handle Business Crisis? Melissa Evans -VP of Motivating The Masses-@masterbizcoach
  • 2. No matter how well a small business is doing, it is vitallyimportant to be prepared for crises, which can happen at anymoment. Instead of waiting for a crisis to occur and thentrying to find a way to handle it, a small business ownershould go ahead and be prepared for the possibility ofcatastrophe so that a plan of action can be implementedimmediately.@masterbizcoach
  • 3. The CausesThere are many ways that a small business can fall into crisis,and the factors can be as variant as a spectrum of colors.One of the most common causes of crisis involve thecountrys economy. When the economy begins to suffer, theeffects on a small business can be detrimental. During thetimes of a slow economy, a small business has to beprepared for the negative effects on their cash flow withplans on how to compensate for them. It is vital toremember that no business is immune from the effects of abad economy.@masterbizcoach
  • 4. Another type of cause for crisis can be weather or naturaleffects. This can include such inclement weather astornadoes, hurricanes, earthquakes, and flooding. This typeof crisis can range from disastrous, like a complete loss froma tornado, to destructive, like a damaged roof from a fallentree.A third crisis cause has more to do with workflow.Sometimes, a crisis can occur if the business loses certain keycharacteristics, like a vital employee or a main supplier orsales vendor.@masterbizcoach
  • 5. Tips on Facing CrisisOnce you recognize the main causes of small businesscrisis, you can begin setting forth a proper risk managementplan. This way, you will be prepared for even the worstissues that may arise.Make sure to evaluate any possible cause and then puttogether a checklist of action. One of the ways to mismanagea crisis is to have no plan, because the crisis is inherentlystressful. You need to be able to look toward a plan withouthaving to think of one. If the lagging economy has caused acrisis, then consider options like sales, boostedadvertising, and customer specials.@masterbizcoach
  • 6. To be prepared for weather related crisis, it is important tobe properly insured. Make sure your business insurancecovers even the additional items, like flooding and sewagebackup. Finally, be prepared for loss of employees, vendors,or suppliers, by cross training and by locating backup sourcesso that you will never find yourself with a large gap inworkflow.@masterbizcoach
  • 7. If you go ahead and expect that crises may occur, you can create proper options and plans ofaction so that your small business can weather any storm.@masterbizcoach
  • 8. Thanks for Viewing! Check out my New Book At www.SoletoSoulBook.com@masterbizcoach