How to help a business that is at a verge of collapse

[Augusta]

The fact remains that before a business finally crumbles, the signs are always there for management or the owner to know and it is always the right time to apply good decisions. This can help to remedy bad situations and prevent the business from a fall. So it is up to the managers to apply the right steps

You can do the following to help out:

• Reduce the burden of liabilities on the business
• Increase productivity by becoming more efficient
• Seek professional advice and support
• Reduce or eliminate redundant workers
• Find out the root cause of the almost collapse and tackle it from the root
• Increase marketing and advertising, do more of persuasive advertising to drive sales

What is your thought?

 

[Mika]

First of all, you should know why the business is collapsing. If the business is collapsing because you are selling wring products or bad products, you need to spend some time and money to develop better products. If your business is collapsing due to high running costs, you will have to cut your running cost to save your business.

 

[Sherman198]

A business on the verge of collapsing can be revived through several means....A business can be revived through advertisement and promotions. If a business engaged in doing promos for it's customers and also doing advertisements, I think through thsese means a business can be revived. That's if all these are done in a right way.

 

[Josemendez]

I think the first thing to do in the case of a collapsing business is to first identify what is causing the collapse of the business and then be able to work towards improving it.
When it is something behind your knowledge , then you can as well work towards getting a professional to direct you on the issue.

 

[Alexandoy]

When the business is failing the normal tendency is to cut the costs in the operation. Even the small items like electricity and water are included in the frugality list. But I think the most important is to inject added funds so that the business can do extra tasks like prospecting for new customers and also marketing activities.

 

[Setho]

There is no way you would be able to help a business that is on the verge of collapse unless you know exactly what is making it to go down. You will have to face research deep to know the root of the problem so that you will be able to Foster Good solutions on how to tackle it.