Small Business Focus

How your small business can survive (and thrive!) in tough economic conditions

The Money Show’s Bruce Whitfield interviewed Nazeem Martin, Former MD of Business Partners Limited, for his weekly small business feature.

Martin spoke about how your small business can survive and thrive in tough economic conditions by doing the following:

  • Manage expenses

  • Improve efficiency and streamline processes

  • Delight customers

  • 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

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This article first appeared on 702 : How your small business can survive (and thrive!) in tough economic conditions


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