12.02.2020 We are in the media: The founder of the company “Finance Solutions Group” Lyubov Tsymbal – about for what signals the owner should pay attention to so that his company does not go bankrupt
Internal causes pose the greatest threat to 85% of companies.
The future problems of the business may be indicated by the fact that the company does not have a clear distribution of duties and powers, it is not clear who does what and who is responsible for what. And most importantly, you, as the owner, do not control the situation in your own business, since chaos has begun in it.
At the beginning of creating a business, a development strategy should be developed and all business processes should be described in detail. Strategy is your roadmap that answers the question of how to achieve the expected result.
Another important stage of the “pre-crisis” work is planning and analysis, with the help of which in the future you can avoid the long and tedious unraveling of a tangle of problems that arise due to the adoption of incorrect decisions.
It is first necessary to think about building a system of economic security. It should be formed taking into account the financial interests of the company: the growth of its market value, profit, the availability of a sufficient amount of fixed, additional capital and investment resources, tax burden planning and so on.
It is important to timely and thoroughly assess internal and external risks, check the business reputation and solvency of customers and counterparties.
And do not forget that a significant role in all troubles is played by top management, which, if necessary, should be change without scaring. Because toxic people in the team, especially in the management team, are pulling the business to the bottom.
More about how not to bring a business to a crisis state in an article on the portal Investory News.