Anoop Bishnoi - Keeping Business Afloat in Tough Times

-

 It is never easy to run a business. When times are tough, businesses may have to shift their focus away from profits and towards survival. It can be difficult to keep a business afloat during challenging times, but losing money or not being able to make enough profits doesn’t signal the end of your business. It just means you need to slow down and reassess your operations. The sooner you can determine where the losses are coming from, the sooner you can reduce or eliminate the leak.


Desperate times necessitate desperate measures and, to turn around a company, you must first identify the area that is draining most money.

Here’s what the well-known entrepreneur and promoter of the alcohol and steel industries, Anoop Bishnoi, advises, “…the easiest way to figure this out is by restricting your investments to only the most profitable channels i.e. those showcasing a positive ROI. If needed, trim the fat by cutting down on perks and amenities in workplace as small measures do add up exponentially to your savings. Turning a business around necessitates an increase in sales, which requires an increase in  revenue centers. Focus on improving the overall productivity in your company – make it a monthly target to achieve a 10% improvement in every factor affecting your business revenues, and soon you’ll start seeing overall improvement. Keep your approach focused towards your sales targets and minimize any sort of overhead…you’ll soon be turning your getting back in the black.”

As every small business is unique with its own set of risks and rewards, there is no one-size-fits-all survival strategy, but these general tips can surely help you to ride out the storm. Retain a cool head and always remember why you started in the first place. Believe in yourself and you’ll definitely climb out of the rut.

Location: India

Comments

Post a Comment

Popular posts from this blog

Towards Gender Equality in Education - Anoop Singh Bishnoi

-
Image
While the number of illiterate youth has decreased from 170 million to 115 million, nonetheless, the gender gap in literacy rates has remained relatively stable. For example, India has a significant gender disparity. Approximately 75% of Indian men have at least a basic level of literacy, while 51% of Indian women are literate. Some of the findings of a survey conducted among teachers, parents, and students to understand their perceptions and attitudes towards gender in the education space were as follows: most parents believe that nurturing and caring for children are basic responsibilities of women. Most parents believe that women tolerate violence for the sake of the family, and they point to symbols of sacrifice and compassion as evidence. According to 34% of parents, the main cause of sexual abuse is girls’ behavior and sartorial style. Around 40% of teachers also stated that they assign decoration tasks to girls and tangible physical tasks to boys. To address a deeply embedded
Read more

Does CUET reduce Students’ pressure-A Bane or Beacon for Students

-
Image
Last year, the Union government announced that all admissions to Central Universities for undergraduate courses would be decided by a Common University Entrance Test (CUET). The CUET’s goals are admirable, and it is likely that this will change the education landscape in a few years. After all, unreasonable high school cutoffs are a legitimate concern, and the CUET may, in the long run, level the playing field for students across the country. However, there are more arguments against the common entrance exam than for it. The concept of bringing uniformity to the admissions process via a centralized exam is not novel. In 2010, the Central University CET was used for admission to 1,500 seats in seven new Central universities. By 2020, the entrance examination had grown to include 14 new central universities and four state universities. The real question here is whether the Common Entrance Test is more discriminatory than the previous method of admitting students based on their performanc
Read more

To Stay Safe Online – Tips for Teens

-
Image
Children today are safer than ever before in a variety of ways. Better public safety, less “stranger danger,” and more logic however the twenty-first century brings new challenges to child safety, particularly when considering the digital environment. Children are voracious consumers of digital technologies. Despite all of the opportunities provided by the digital world, such as playing, learning, and socializing, digital engagement poses risks to children’s safety that can have real-world consequences. Many risks in the digital world are analogous to those in the physical world. Bullies can reach their victims online just as easily as they can in the schoolyard. Children can be exposed to hate speech and racism through the virtual games they play, videos they watch, and communication apps they use. Some risks, however, are more specific to the digital environment, such as sending or receiving sexually explicit messages online, or the use and misuse of children’s data. Pop-ups in app
Read more