10 quy luật cứu nguy doanh nghiệp vượt qua Covid 19 | Phạm Ngọc Anh - Mr Why

Ladies and gentlemen, the outbreak of the COVID-19 pandemic has put thousands of Vietnamese businesses in a difficult phase. They are even on the verge of bankruptcy if the pandemic continues. And I know that at this time, businesses, especially CEOs, are working very hard to find solutions for their businesses. Under the role of a CEO and a trained actor in the business field, I understand the difficulties that businesses are facing. However, the good news for you is that at any time, there is always a chance, right? Although the risk is very high, there are always opportunities for us to take advantage of. And if you are watching this video, your chance is coming. The next day, I will share with you 10 unchanging rules that will save businesses from the difficulties of the COVID-19 era. If you understand and apply these 10 rules well, I am sure that your business will be fine, even grow if you know how to catch the opportunity. Rule No. 1 If your business is loaned by a bank or financial company, you need to quickly transfer that amount to cash at the company's bank account. This will help you prevent the bank or financial companies from changing their policy during the crisis. If you cut the amount, your business will face a lot of financial difficulties. Rule No. 2 During this difficult time, you have to cut unnecessary costs. The goal here is to ensure minimal activity to reduce costs for businesses. In this crisis, you have to prioritize how to make your business survive first, then consider other cases. If possible, consider hiring employees to take a break from work temporarily after the pandemic. Be sure to cut or suspend non-profit projects to focus on saving the business mind first. Rule No. 3 Reduce the cost of loans. If you are planning to expand your business, you should think about it again. Wait until the pandemic is over, and when your finances are back to normal, you can continue. You should focus on maintaining and developing your business model. Any expansion of your business model will increase your business's risk. Try negotiating with your landlord. If successful, your landlord can give you a 30-50% discount, and some places can give you a 100% discount for free within 1-2 months until the pandemic is over. You have to make your landlord understand that if your business dies, their future will lose their income from the loan. This is a win-win plan. Both sides benefit from it. But I want to emphasize that many people are too shy to speak up, and just stay there all by themselves. Meet directly with your landlord. Send a letter or phone call to ask for help. It won't make you lose your position. Now is the time to survive. It's a good thing. It won't help your business survive. Rule No. 4 Be positive. Adjust your loans to meet your business conditions. Try to negotiate, find a way to pay off your loans to your landlord, to your bank, to your partner, as best as you can. But you still need to ensure a reasonable and business ethics to maintain your business's money flow. Note that all games are created by humans. And humans can change them if they have the right reasons. You've just watched half of the video. Click the subscribe button now so you won't miss my next videos. Rule No. 5 Recover your loans as soon as possible. Recover your loans immediately. And even if you have to apply some measures such as discounting the price, or only receiving a part of the loan, you still need to recover your loans to have cash. Don't be greedy with the numbers on the paper. The priority now is cash, cash, and cash. For example, if you have a debt of 1 billion VND, you're ready to use a fast payment method of 20% to recover 800 million VND or more than 1 billion VND on your account book. Rule No. 6 Find every way to fill up your account to reduce your savings. You don't even have to sell your house to have cash. The rule is that cash is the king at this time. It's the same as the rule to recover your debt I mentioned earlier. You need to make quick decisions to be generous, even super generous, to reduce your savings. This not only helps to free up your savings, but also increases the amount of cash. All you need to do is to give a reasonable price to get the cash back. Rule No. 7 Find a way to delay or discount to temporarily stop new orders. Prioritize to boost your savings. Because new orders at this time are very easy to be canceled. Please note that while the whole world is focusing on fighting the pandemic, shopping will still be a big question mark. So spending money on new orders requires a lot of consideration. It depends on your needs. Rule No. 8 Find out existing assets, such as land, intellectual property. If you can sell them, try to increase the amount of cash in your account. Here's an important question. If you don't have a long-term income, how long can your business survive? This is the basis for you to decide how much cash to sell. Even if you have to sell a lot of assets, a reasonable price is what you need if you are not ready for the worst-case scenario. Rule No. 9 Discount or delay other taxes or responsibilities. Recently, I have seen that the government has many initiatives to increase social insurance, which has been affected by the COVID-19 pandemic. This is a good sign for businesses in this difficult time. So, please send your hard-earned money and ask for help. Authorities manage thousands of businesses, so they cannot help you. But you need to ask for help. This is very necessary. Rule No. 10 Find solutions by participating in business associations, organizations related to businesses, government agencies that can help each other to overcome this difficult period. There is a saying, unity is strength. Increase domestic consumption, share resources together is the best way to help small businesses unite and increase their strength to overcome the pandemic. Here are 10 rules that you can implement to save your business. Note that you have to do it as soon as possible, because thousands of other businesses are also facing difficulties, not only your business. If you slow down, solving the problem will be much more difficult. The last piece of advice I want to give you is to always take the initiative to face the situation. Remember these 10 rules to be ready to deal with any difficulties. If you can do that, your business will always be strong as a stone. Like and share this video so that it can help many other businesses who are also facing difficulties. And don't forget to subscribe to my channel and click the bell button next to it to receive notifications when I upload a new video. See you in the next videos!