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
Adopt these strategies and your business will not only survive - but thrive - amidst all the doom and gloom.
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