A business that is merely surviving is risky and stressful. You often work hard for little reward. Then one mistake or misstep can quickly take you over the edge.
Typically, survival mode is triggered by a cash shortage. Established businesses fall into survival mode because of some combination of internal mistakes and external market factors. Start-ups, by their very nature, are initially heading towards failure.
The first step is to buy the time you need to implement a plan that brings you out of survival mode. This usually means managing costs and then increasing revenue. It may also involve raising additional capital. Creating a viable plan is critical either way.
“It takes 20 years to build a reputation and five minutes to ruin it. If you think about that, you’ll do things differently.” ~ Warren Buffett
In addition to increasing sales, you may have to repair your brand’s perception with your target market while improving your ability to deliver on your value promise.
Ultimately, you need to get out of survival mode as soon as you can.