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Is your business struggling? Unexpected expenses, slack period ... you have trouble seeing the future of your company ... How to turn around a struggling business?

Discover without further delay with newdeal cameroon our 6 tips to get your business out of the crisis!

Its promoter M.Gerard Olivier Momha
Expert in shipping, Supply Chain, Port Logistics and having done 16 in the Maersk group, gives you advice to better turn around your business.

Turning around a struggling construction company in 6 steps

Set up a business plan

In times of crisis, you have to keep an eye on everything that is going on, but also, put in place a business plan over a period of one year. Goals must be set through a precise timetable and translated into figures to get out of the crisis:

  • Find new customers;
  • Increase awareness of your building company;
  • Improve productivity and profitability;
  • Améliorer la trésorerie;
  • Improve and reorganize working time;
  • Find solutions to retain customers.

Closely monitor your accounting and cash flow

To turn your business around, it is essential to put your expenses in line. Centralize data on management software designed for this purpose to see more clearly and identify abnormal and unnecessary expenses.

Do the same for the cash flow. Organize invoices paid, late, and unpaid by your customers on your work estimate software.

Once done, you will be able to analyze your cash flow and more easily detect any anomalies that can be corrected to improve it.

Reduce costs with suppliers

You should also focus your efforts on unnecessary or excessive costs in order to act quickly. Negotiate with suppliers: reduce your costs by renegotiating contracts. Do not hesitate to compare prices and compete with other providers.

You can negotiate payment terms with your suppliers to benefit from a margin on your cash flow, often necessary in times of financial crisis

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