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basic in this situation( product = money ) lon no
1. Review your credit policy; providing better credit terms will boost your sales in the short run, but it will also affect your cashflow. Therefore be cautious; coordinate with your accounting and combine your new credit policy with customers credit chech or "factoring" .
2. Research your customers' budget allowance / allocation; identify their priorities and find out what are they willing to spend their money on. This will allow you to better adjust your products and / or services according to their actual needs, rather than according to your stock / availability.
3. Review your go-to-market strategy and adjust your products and / or services portfolio, according to the new market conditions developed by the economic downturn; this way you'll make your offering more attractive to your customers.
4. CRM. Safeguard and improve your relationship with your customers, which is now more critical than ever and can make the difference between life and death; don't forget that other sellers are now after your customers within their efforts to stay alive in a hectic market.
5. If possible, try to broaden your customer base; more customers equals more sales.
Good luck!
Iakovos Alafouzos.
get cash not sale with credit to cover ur responsible
