LOS ANGELES, Oct. 13, 2020 /PRNewswire/ — Scott Yahraus (www.scott4business.com), America’s leading expert in business turnarounds and dispute resolutions, was featured in an article in Business Management News offering strategies to help companies successfully navigate this current economic storm.
In an article titled, “How to Save Your Business During these Challenging Times,” Yahraus offers 7 ways that business owners and senior executives can create an environment that is less susceptible to the merciless impact of the Covid economy.
“America is going through its worst economic times since the Great Depression. Millions are out of work. Thousands of businesses have closed – at least temporarily,” the article stated. “Make sure your business isn’t one of them.”
The first piece of advice Yahraus shares is perhaps the hardest to swallow. “Know when to pull the plug,” he states. “There could be an opportunity for you to merge or acquire a competitor or a business in a tangential industry that allows you to grow your current operation and obtain economies of scale.”
“Conversely, you may find that the time is right to exit your business and sell,” he adds.
In the article, Yahraus shares his thoughts about the importance of communications, the pros and cons of marketing during this economic downturn, and tips on negotiating with landlords.
“I have managed over 60 companies in various industries,” Yahraus said. “This has given me a body of work and breadth of experience that is immensely valuable to any company facing difficulties,” he added. “The fact is, whatever problem a business may be experiencing, I’ve probably seen it, dealt with it, and solved it, many times before.”
According to the magazine, these practical tips should be implemented by every business owner in order to minimize damage and enhance growth opportunities. “Now more than ever, these tactics are critical,” they write.
Scott Yahraus & Associates is now offering a low-cost initial consultation for companies facing business challenges due to the current economic downturn. They will analyze the business situation and offer a plan for solving the issues and improving operations.
To apply for a consultation, visit the website at: www.Scott4Business.com.
SOURCE Scott Yahraus & Associates