Professional Documents
Culture Documents
The possible challenges that might face our business are how we are
going to respond to competition. Others will recognize the opportunity
and enter the industry. Our solution to overcome it is to keep focus on
business itself and continue to communicate to our unique value
proposition to prospects and customers. The next is the cash flow
management problems wherein there are many small and large
businesses go bust; our resolve to that kind of matter is we will
manage our cash carefully during these times. We also monitor it on
a regular basis. Ideally, we will be able to take some time every
month and take a look at the money flowing in and out of our
business. However, if the cash flow is not that great at the moment,
we will improve it by getting creative with marketing. Rather than
paying for that costly commercial and online advertising, we will start
a social media marketing campaign which is completely free and
keep the cash in our take. It will save and gain us a lot of money
which can be used to improve our business.