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SHIV DIXIT
CHAIRMAN - BITEX IND... • 1y
Professional Business Concepts— 3 “ Business Hibernation Strategy ” Business Hibernation is same as animal hibernation , in this process you just need to survive the period of huge problems and Competition. In this process you need to cut few things from your business and wait for favourable condition 1=} Calculate the market conditions and how it will last 2=} Calculate the impact on your business and revenue 3=} Cut non essential cost 4=} Start negotiating or anybody for better terms 5=} Slow down operations 6=} Stream like everything and focus only on core products 7=} Manage your work force 8=} Reduce less important employees 9=} Reduce working hours and salary 10=} Communicate with your team and tell your problems 11=} Manage cash flow and seek for financial help 12=} Only operate core products that give profits 13=} keep in touch with your loyal customer base 14=} Rebuild everything and with detailed analyse of every problem 15=} Reduce debt and slowly start
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