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How to handle setbacks in your business
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[QUOTE="Suba, post: 289675, member: 3658"] Business setbacks are a natural process for any type of business. You must have the skills to handle your business setbacks. Business setbacks are often marked by decreased sales, decreased productivity etc. Even though business setbacks are unavoidable, businesses must try to pay attention to and improve the main factors that cause business setbacks, among others: 1. Do an evaluation When a business setback occurs, you need to evaluate whether your business is running according to plan. Find out the main reasons why business decline occurs, whether it's because of low product quality, lack of marketing or lots of competition. 2. Market needs As a businessman, you must understand market needs, not only focus on selling products. If necessary, you can conduct surveys. 3. Study competitors' business strategies Track records of competitors' business strategies can be used to analyze and predict your business opportunities. 4. Marketing and promotion strategy After you can find the main factors causing business setbacks, then you must quickly fix them, do lots of promotions through social media to get new customers. [/QUOTE]
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