Question

Passage 2
The impact of Covid - 19 on businesses is significant, particularly on cash flows. For both fortunate
businesses that have had increase in sales and those that have had a decrease in sales, it is vital to
get back to the basics of where the cash flows are created. As a small and medium business owner
you are aware that sales are the starting point of your business cash flows. So how do you increase
sales? Let's take a look at sales revenue and see some examples of how to analyze.
Understanding trends - When you have sales data of each of your products, take a look how each of
your products is performing over a period of time. Data based on pre - covid may not be reliable to
understand what the users of your products are looking for in the post - covid situation. Business
Klinic can assist in providing data analysis for your products and also look at understanding drivers for
your sales demand.
Remove unprofitable products - The pandemic has provided an apt check - point for all businesses to
stop and analyse the profitability of their entire product lines. We recommend setting a profitability
limit to see how many products fall below this limit. If the product sales continue to fall or fluctuate
wildly, then it would be recommended to remove these products.
Find modifications for products that are having low or zero profit - For products that are near your set
profitability, keep improvising the product so that your customers, still like them. Business Klinic can
point you to a variety of product design firms and freelance designers to spruce up your product.
Customers always appreciate improvements that are provided to them proactively.
Change price points of products - Most products have a market - life. Business Klinic can assist you in
deciding whether your product has reached its end - of - life and can recommend changes. One of
the classic approaches is to reduce the price of the product. Price reduction or discounts are given to
ensure that you are able to maintain the basic volume required for production. Keep a close eye on
products that have a reduced price point.
These points mentioned above should act as a catalyst to got you thinking about how to improve your
business in the post covid era.​

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