The time comes for every successful business to make some hard decisions about cutting costs. Truly successful companies get over those times and move on to better things. But every business owner has that moment of truth realization that things are not going as well as they had hoped. In that moment of realization, they know that something has to be done, and fast.
At such a time, it is easy to do the wrong thing and cut the wrong program. They make that decision in a moment of panic. That is a recipe for disaster. First, you have to stop the bleeding before looking for a permanent cure. In the case of a business emergency, that usually involves securing the capitol to keep the ship afloat during a difficult phase.
The first thing you should know is that there is no need for panic. You can find resources. Start here to learn about the various types of loans that are available for different sized emergencies and that will fit credit profiles that have a few scars. One mistake doesn’t need to be the end of your business endeavors. Use it as a learning experience and get the resources you …When Making Cuts, Leave These Items Until the Very End Read More