Hi, it is a 5 year old manufacturing organization which is made a brandvalue in the market but made losses of 26 lakhs in 5 years..Kindly suggest.

Hi Vartika,

I would suggest you find a MENTOR in the areas of concern. I would recommend you start with mentors experienced in - Human Resources, Marketing and Sales. If you try and initiate a conversation directly with a mentor, it might help you take the next step.

Thank you and All the Best.

How are you making the losses? Could it be that you missing something on pricing, marketing and selling approach? What and how exactly are you running the business? What are the specific challenges do you face and think are causing you losses as a result? Any one to advise you will need to know all this in order to figure out or suggest a solution better for you.

Thanks.

Since you know that there are losses of 25L, it means that you have done / got done some amount of book keeping. It also means that the issue may really not be book keeping but of keeping track of expense vs receivables. For this you need a mentor to help you plan a weekly schedule / a reporting structure for the company and a relook at the Sales / Distribution of the services or products. It also means that you might have to look at re evaluating your business plan currently being followed and creating a new one. A business mentor should be the first step and some harsh decisions may await you but results will definitely come.

Hello Vartika,

I will be happy to help you. Please feel free to write to me at monahr.pmp@gmail.com to discuss further.

Best Wishes Mona

Hello Vartika,

Losses could be due to many factors such as operational inefficiency, inadequate marketing, sub-optimal sales machine etc.

To begin with, get grip of numbers. The language of business is numbers.

Check the following key parameters: In how many years have you achieved your sales target, are expenses within budget, what has been marketing expense as % of revenue, Life Time Value (LTV) of consumer vs. cost of acquiring that customer, what is the break-even sales value, is COGS calculated properly?

For further assistance, you can write to me at pashupatikundu@actioncoach.com. I will surely help you.