Prolex has developed several recommendations for Belarusian businessmen during the economic crisis.
1. It’s important to keep improving
Use the opportunity to continue developing – in your free time, read / listen to books and watch thematic videos. Track your competitors ‘ work both inside and outside the country.
2. Keep costs to a minimum
Repairs, office supplies, and marketing research should be temporarily postponed.
3. Minimize your rental costs
If you have a lot of offices for rent, review the terms with Landlords, reduce them to the minimum rent, or equate the exchange rates to a specific date. Alternatively, suggest that you set a payment vacation for a couple of months.
4. Develop a new business model
Review the product (service) from a different angle. See how to simplify business processes, expand the portrait of the target audience, and launch a more relevant product (service) that the client needs right now in the current environment.
5. Pay more attention to working with employees
Most of the costs are personnel costs that need to be managed strategically in times of crisis. Some employees will have to take a pay cut or reduce their working hours. But in this situation, the team needs to tell the truth, why this is happening and what are the prospects for the development of events.
We hope the tips were useful! Now is the time to use them! For more information, you can contact Prolex professionals for advice.
We will continue to give you useful tips in our permanent section “Simple backfill questions”.
Stay tuned and read the Prolex blog.
