Staying motivated through challenging financial times

15 January 2009 | 12:52 - By Shivani Gupta

As the impact of the financial crisis hits home, some businesses will face challenging times. Here are a few tips to help weather the storm.

 1.    Still focus on training and education - It is often one of the first things to be cut in organisations when the tough times hit. You may have less funds to invest, but continuing to invest in yourself and your people is essential for long-term success. It helps to maintain and grow people's skill set and makes them feel valued.

2.    Work on your circle of influence - Where can you spend a little less? Can you make payments or do projects in instalments? For example, we have recently moved offices and we are doing the signage in two lots to spread the cost and manage cash flow.

3.    Maintain your attitude - As a leader, don't come into work whingeing and complaining about the crisis. Your staff and clients will buy into that attitude. Be honest with your staff but discuss things from a positive framework.

What are you doing to whether the storm?

Share article: 
top

Join the discussion

You have characters remaining.
Validation (
) :
This is a captcha-picture. It is used to prevent mass-access by robots.

PLEASE NOTE: All submitted comments become the property of SBS. We reserve the right to edit and/or amend submitted comments. HTML tags other than paragraph, line break, bold or italics will be removed from your comment.

About this Blog

Risking It All presenter and business expert Shivani Gupta has a passion to see people grow their businesses. Shivani brings her vast experience and practical business sense to help out the entrepreneurs in the television show and the SBS online audience in her business blog.

Shivani Gupta is a business dynamo with heart, vision, values and passion. She is a former corporate executive who “risked it all” herself to become an author as well as establish her own successful business coaching and speaking business, Passion@People. Shivani is well qualified for the role of helping our four start-up businesses, and your business too. Shivani has worked with a range of companies from sole traders to six of Australia’s top ten companies. She has won awards that include ‘Telstra Young Business Woman of the Year’. She was born in India and grew up in Australia. For more information about Shivani visit www.shivani.com.au

 
ADVERTISEMENT

Other Blogs

TV
Food
Films
Documentary
World News Australia
Sport
About SBS
Business
Internet and Technology
Cycling Central
Festival Reports
Tour De France