Mar 15

Handling Financial Crisis

Get advice, find experts. It is likely that you don’t have all the knowledge, if you intend to do it all alone, your chances will be very limited, perhaps does not reach him the time, vision or preparation, or might need expert help. Remember that your ego is not always proportional to their knowledge. I have heard many entrepreneurs say, nobody knows more of this business that I, and others who supposedly do not equate them however exceed them easily. Don’t look for any help, identify what you need and look for those who know it to do better than others, that will give you a significant competitive advantage, which perhaps it is of great importance to advance.

As usually after a crisis you will have limited availability of resources may be tempted to choose taking into account the price before any more important value proposition, however consider that nothing there is more expensive than pay cheap for something that doesn’t, nor anything cheaper than paying expensive for something that gives an excellent result. To analyze a proposal not consider only the labour fees, try to identify costs annexed many of which may not be visible easily, time to deploy more long will produce minor results at the end, little warranty can imply irrecoverable losses, little experience will need much trial and much error, a few minor monthly fees can help your cash flow, but may affect earnings for more time. Some examples are, ask the experts do you see comparative advantages with their competitors, they will give you many lights thereon. Do try to find experts who know the subject but who do not intend to do in your company the exact copy of what are their competitors, if no difference why shall customers prefer it, if they are already served by someone so thought it would be the reason to change? Afford to keep their own identity assimilated best practices available and enough technology to be competitive, but also dimension your business and its real possibilities to plan investment that it will be carried. Make sure that expert contracted is not the seller of the technology you are going to deploy, for the their problems are sales opportunities disguised in many cases solutions, the it will try to fit your needs on one of its products, rarely you will design a product adapted to your needs and with real possibilities for growth other than those he sees as opportunities for loyaltyi.e. dependency in the future. Don’t forget that if the expert is employed by another it shall pursue the objectives of another and the sale will get their best results.