Offer your employees a buyout option to avoid downsizing and large-scale layoffs. An employee buyout offer helps you save money on operating costs, and it allows your employees to stay financially stable while looking for other employment opportunities.
Form a strategic business alliance to help your business reduce costs, expand your distribution network, or gain entry into a new market. A strategic alliance fosters the growth and success of both businesses while allowing each business to remain independent.
Implement a cross-merchandising strategy to help your small business increase sales, attract customers, and improve customer satisfaction. Cross-merchandising helps create a one-stop shopping experience that persuades customer purchasing behaviours by encouraging complementary purchases.