Martin spoke about how your small business can survive and thrive in tough economic conditions by doing the following:
Improve efficiency and streamline processes
- Manage cash flow
Scroll down for quotes from the audio below.
You mustn’t lose the ‘hustle factor’.— Nazeem Martin
Focussing on expenses can be demoralising.— Nazeem Martin
Don’t cut your marketing expenses! Running a business without marketing is like winking at a beautiful woman in the dark.— Nazeem Martin
When you delight your customers during tough times, they’re yours for life!— Nazeem Martin
Try to persuade your suppliers to give you some breathing room. You could also persuade your customers to pay a little earlier, even if you have to give them a slight discount. You must have cash flow to keep your business running.— Nazeem Martin
Refrain from diversifying into areas you know little about.— Nazeem Martin
Continually come up with new products in the fields that you’re an expert in.— Nazeem Martin
Recommendedby THE NEWSROOM
Adopt these strategies and your business will not only survive - but thrive - amidst all the doom and gloom.
Bruce Whitfield interviews Aurik Business Incubator Director and CEO Pavlo Phitidis for his weekly small business feature.
Disaster can strike any business anytime, anywhere. Aurik Business Incubator's Pavlo Phitidis talks about crisis management.
Elephant-like businesses can’t eat enough in a 1.4% growth economy while bears are in survival mode. Be a wild dog! Here's how...
Are you a small business owner, or do you dream of becoming one? Learn from three entrepreneurs in the thick of things…
Five South African case studies of small businesses that are booming despite the very tough environment they operate in.
The level of grumpiness today is overwhelming, yet some entrepreneurs, both big and small, are achieving phenomenal growth.
The actions small business owners should undertake to change their offering to struggling big businesses they supply.
The JoJo brand has entrenched itself in the psyche of South Africans. Bruce Whitfield interviews its MD, Grant Neser.
20 mm of rain nourished the Mother City on Tuesday and Capetonians welcomed it with open arms.
On Monday, the City of Cape Town named Mitchell du Plessis Associates as the qualifying bidder for the Foreshore freeway project.
Two viaducts will complete the current unfinished highways, and market-related residential units and affordable housing built.
Still young(ish)? Consider the single best thing you can do to increase your wealth by much more than the inflation rate.