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3-Step program to boost a flagging business

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It is never far from our minds, but it’s something we don’t particularly want to contemplate. If our business is going down the tubes at a rapid rate, it can cause a lot of stress and anxiety not just for us, but also for our staff members, our business resources, and also our brand. It’s something every startup company has had to deal with when revenues aren’t growing fast enough, and the future looks bleak. So what can we do to turn everything around?

Step 1: Transparency

The first step to saving your business is by being straightforward with your staff. It may mean that a substantial downsizing is the best option right now, and while this isn’t music to everyone’s ears, it’s imperative to you, to tell the truth, to stop most of your staff jumping ship. Transparency is all about truth and honesty with your staff, and it may mean coming clean with how little finances you have and what your intentions are in the short-term. You may be surprised that people will come forward with solutions that you didn’t consider. Short-term business loans, that are of an unsecured nature may be the cash injection you need to turn everything around. You can find answers at www.unsecuredfinanceaustralia.com.au/faq to decide if this is the right route for you, but there are always more options than you realize. You have to come clean to your workers if you have any hope of keeping them onboard, and rallying everyone together to come up with a solution that keeps everything ticking over will stop those important staff members leaving right away.

Step 2: Reaching out for a common vision

It’s not just your staff that you need to have on your wavelength, but also the stakeholders and key clients, as well as vendors and suppliers. The way to get everybody on-board is to unite a common vision between all sectors. You need to have an outline on how to restart the company to gain a profit which means it will be an anxiety-inducing time for you, but to encourage real sustainability, you have to fake it until you make it. With each milestone you accomplish towards getting back on your feet, make sure you celebrate it. This will work well into the next step.

Step 3: Combining your vision with the work culture

In these bleak times, morale will be low, so you need to refocus back onto the fundamental tenets that create a positive working culture. So many businesses that are hanging in the balance make for a depressing atmosphere, and as a result, productivity is low, there will be an overall sense of dread and people will be looking for the exit. Combine your transparency with a positive working culture which ties in with your overall vision for the near future. From things like the simple employee of the week award, or even more team time together, have a look at www.snacknation.com/morale-boosters for some ideas. They will go some way to encourage your staff to work hard, but also to believe in the vision that you are repainting your company with.

To accomplish this, you have to plan the long term ,which can be difficult, but fake it til you make it and act like your company is going to be around for a long, long time. This will be an effective leadership strategy to improve the workplace culture, restructure your teams properly and get the ball rolling again.

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