If you’ve survived so far, then you’re doing pretty good. However, there are still tough times ahead, and it’s important you prepare for them so that when they do come, you can ride those rough waters and keep on swimming. Here are a couple of tips to help you deal with difficult times.
Keep a Steady Hand
Be mindful of what’s being spent where. Even simple things like pens and coffee can have huge costs associated with them due to theft. Don’t control every aspect of your office, however; there’s no need to install more monitoring software on all of the computers at your office. There is a need to go over the payroll and other expenses going out every month at the beginning of a new pay period, though.
Take Money from Clients in Advance
To make sure there’s money in the bank to pay your employees while they’re working on a large project, ask for half up-front for any job that you decide to take on. That way you can keep paying your employees and once the project is done, you can ask for the other half. Make sure you’ve built up your reputation as a trustworthy company before doing this, however; if someone doesn’t know your reputation and you try and do this, you may send your customers running for the door.
Don’t Let Those in Your Office Get Down
The worst thing you can do is let morale slip among your employees. You need to work hard to make sure that everyone is motivated and continues to do their best, even if you have to lay off someone next week because of expenses. Do a daily huddle and say positive things about your numbers, even when they may not be great. Do a cheer or a motivational chant at the end of your huddle to equip your employees for the day to come.
