Make Sure You Pick The Right Mr Men

IF you are in a hole don’t be afraid to ask others to help you dig. Running a business is hard work and many owners are resistant to change and normally believe they can muddle through themselves.

However, if your company is struggling don’t be a Mr Muddle as your business could fail. Nor a Mr Stubborn, as doing nothing about your problems will only turn you into Mr Grumpy. Be a Mr Noisy, Mr Clever and Mr Brave, all rolled into one – call for help.

Seek professional guidance and that way you will be able to draw up an action plan while implementing much-needed changes. Get rid of areas in your business that no longer work. Change the financial accounting perhaps, to make it easier to see what is going on while managing the accounts.

Keeping up staff morale is important too. Have regular meetings to let them know what is happening. Get their feedback and embrace their ideas. They could help the company get back on its feet.

Without making significant changes, some companies will not see out the continuing financial problems. Try and cut costs. Look at your firm’s insurance profile and see whether it will be possible to alter your payments to your advantage after an assessment, perhaps where managing levels of risk could lead to fewer claims. Then, even with a fall in turnover, you could still improve profitability. That way, you will end up as Mr Happy.



4 Comments

  • Mary Hull

    I feel as though this article must have been written by Little Miss Helpful. Thank you Clive, I know of people who think they have made it and don't ask for help and then struggle.Getting in the experts can be an enormous help as at least they can show you ways of tackling problems without it being a major cost to the business.Once you know where you are headed it can be easier. And being shown the right way to go can only be beneficial. take the advice, it can only be a good thing.

  • Clive Barrett

    Thank You Mary. I appreciate the comment.

  • Mark

    Good advice and I know a few friends who have looked at their costings, such as insurance to see whether there is another way other than just shedding jobs to cut costs.Every avenue should be uncovered because job losses should be the last straw.

  • Neil C

    Looking at costs is important but so is trying to increase revenue without becoming that busy fool.
    You have to look to increase sales at the same time as keeping your costs down. Increasing the costs just to take on more business, and therefore not increasing or maintaining profitability, is a mug’s game.

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