Pre-emptive measures

From the Swindon Advertiser, first published Thursday 24th Jul 2003.

BIBBY Factors has compiled a list of top tips to help avoid the pitfalls:

Plan effectively and try to anticipate demand for products or services.

Keep your eye on the ball and monitor stock levels regularly.

Keep your cash flowing. If necessary, explore alternative funding methods such as factoring.

Consider taking on temporary staff to fill the gap when your staff take their holiday.

Always under-promise and over-deliver. Never take on board contracts that you can't fulfil.

Practice good administration. Keep clear, concise documentation ensuring things run smoothly when the heat is on.

Keep your loyal customers. Don't put novelty before long-standing relationships.

Have a holiday plan. Take your break when you anticipate a lull in demand.

Delegate responsibility. Empower a trusted member of staff to make decisions in your absence.

Leave your mobile phone at home. Fully commit to your holiday.

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