How To Prevent Your Company From Going Out Of Business

202 has been hard on everybody, and there is no doubt about it. Obviously, it has been hardest on those who have unfortunately passed away in recent chaos. However, it has also been hard on business owners (mostly small ones). Corporations, in contrast, have seen some of the largest growth that they ever have. Especially a company like Amazon, which was highly utilized by many consumers during the pandemic, has seen a great increase in revenue and net worth because of the virus. It is honestly a shame when you think about it – Amazon has become so profitable in the worst year of a lot of people’s lives, and barely are they giving back to the community of people and consumers that have made them so successful.

I mean, Amazon became so busy that they could no longer afford to promise the adored two-day shipping for Amazon prime members; now that’s a big deal! Anyways, many companies have found themselves struggling because of recent chaos, and it makes me really sad to see some of my friends and colleagues in the business field that is no longer able to stay in business because of the economic climate and the government mandates.

That being said, I am something of an expert myself in the business world and have dealt with a lot of companies that have faced the threat of going under. If you and your business are struggling and in danger of closing down for good, I highly recommend that you read this article and take some notes on how to save your business in the long run. 

The first thing that I need to talk about is cutting costs. Now a lot of companies have already cut their costs to the bone in attempts to keep themselves up and running, but are avoiding doing the harder things like letting certain employees go and eliminating waste. Well, I am here to tell you that that’s exactly what you have to do. Eliminate waste any way that you can, even if it involves firing Jim and leaving his kids without any presents under the tree during the holidays. Frankly, I don’t care much about his family, just the bottom line. This is the attitude that you are going to need to have if you intend on staying in business in the face of all these real problems.

Another way that you can cut costs is through changing suppliers of things like raw materials, shipping supplies, and capital gains or whatever that means. Certain things like shipping supplies can be found elsewhere for cheaper if you are willing to do the legwork of comparing quotes and getting involved with different suppliers. Manufacturing can actually save you a lot of money as well if you start losing lower-quality materials. Worried about the reputation of your business? I don’t care.

This is about the bottom line people. Reputation is not the bottom line. Like I said earlier, this whole thing is about eliminating waste. You have to get down and dirty – you have to roll up your sleeves and start grinding if you really want to save your ship. Stop bailing water from the bottom of the boat when you can simply throw off one of your skippers. Am I making sense?