Source: freepik.es
A few days ago in the midst of a strong financial shock caused by the fluctuations of the dollar in my country, especially by excessive speculation, my business was affected by a series of losses in terms of capital. Due to the fact that the costs at which the products had been sold were far below the increase in the dollar rate of the following day when I had to replenish the ingredients that are the raw material of my products.
This brought with it a deficit in my finances, because even when in the food business they tell you to triple the cost of the investment to be able to generate income that becomes your saved capital, that is to say, earnings free of taxes and commitments, when these abrupt changes happen in a currency in which your country bases a parallel economy, because it is not the official currency, but all transactions use it and consider it official, which is crazy, everything you had budgeted for is modified and changes drastically.
In the midst of that budget crisis and with acquired commitments I had to invest part of my savings to buy material to work at triple the budgeted value, the problem began when that day when I made the investment in materials I made an adjustment of the costs in the products (which I do not often do, because I am against excessive inflation) and the next day there was a fall in the price of the dollar generating a real chaos in my economy.
In the midst of so much work and a financial crisis that put my business to tremble, because now the cost of materials at the time in which I bought them were higher than the value of the current product, I decided to take a deep breath and take part of the day to generate a new sales strategy that would allow me to replace part of the investment or at least stop my decapitalization.
At that moment I remembered what my little nephew Diego told me in previous days when we were playing basketball and I could not make the ball go through the hoop, he in his love and childish innocence seeing my lack of motivation with his little hands grabbed my face and staring at me he told me aunt concentrate and focus, and you will achieve your goal. Wonderful innocence turned into wisdom.
Source: freepik.es
concentrate: In this part I analyzed which of my products were the best sellers, according to the day of the month considering the following indicators:
-Frequent customer tastes.
-Day of the month in which we were, that is to say, if it was a weekend or a payday.
-Products whose elaboration process did not entail a high cost in ingredients, physical effort and hours of elaboration.
-Packaging and delivery: Products that did not require excessive packaging and delivery costs.
-Products that can be sold in portions.
Focus: In this part of the plan I designed a sales strategy that would give me the opportunity to recover, although perhaps not all the investment, part of it and stop my decapitalization, so I focused on:
-Sales strategy focused on personalized advertising, I decided based on what each one asks for weekly to offer the list of people who are my regular customers a few combos of products that they enjoy with a small gift which consisted of an additional portion with the purchase of a specific amount.
-Advertising in the networks with discounts for the purchase of five free delivery products.
-Selling the products in portions, one of the things I have learned in the candy and food business is the creation of variety packs, which I like very much with small portions of several of my products and that are accessible to customers.
I must tell you that it was an excellent week where I not only managed to recover the capital invested in the products made, as well as stop the imminent financial collapse that the economy little stable, I did not have a big profit but knowing that I have capital from my venture and the recovery of the materials allows me to be at zero debt with a small balance in favor and with resources to produce my profit next week. So to all those who have their ventures I say concentrate and focus.
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Excellent advice, concentration and focus are the key to keep afloat every project, if you believe in that business even if everything gets difficult you must keep the horizon and be patient, perseverance is always rewarded.
Greetings @emimoron, as a Venezuelan I understand the difficult situation and the bad time you went through because of a monetary instability that is killing us little by little, focus and concentrate is a daily task, I think that attitude is what allows us to continue with this disaster of a country that we have been left with. Thank you for your contribution
Hello @emimoron Excellent advice, concentrate and focus on the goal, I know very well is not an easy task, but it is something that we must put into practice every day, especially in our country ... thanks for sharing !