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Business strategy
what do we need to do to revive a falling business?
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[QUOTE="Kendy, post: 211749, member: 63869"] In reviving a dead business, a business owner should always endeavor to go back to the drawing board on the business plan. In most cases, it must have been that the business plan was not feasible enough or was planned haphazardly. An entrepreneur should devise to ascertain what went amiss and employ some highly-trained personnel to help curb total loss of the business. By employing the services of professionals, he should run adverts on all media channels, use billboards if you can afford it and also use or adopt the social media network like; Facebook, Twitter, Instagram, Whatsapp and even through email marketing. In some cases, the approach used to revive a dead business might be to change the business venture totally or to run promos and input some sort of creative and innovative ideas which would be appealing to customers, this is because they are the crux or pillar of any sustainable business. Another way to reviving a dead business would be to reduce the present number of employees, improvise in order to be more cost-effective. Rebranding the products into a more appealling and changing the setting of the shop or the location in its entirety or by adding some renovating or remodelling is also a pragmatic means of reviving a dead business. The business owner should also change his approach to a more flexible one and treat all customers with equal priority. [/QUOTE]
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