In times of uncertainty, like we are facing now, small business owners must stay focused and be proactive.
Today, Eric shares three of his tried and tested strategies for helping small business owners remain steady during times of uncertainty within the industry.
Stay tuned to learn how to turn uncertainty into opportunity with three proven strategies to keep your business moving forward in unpredictable times.
1. Review Your Finances
Start by examining every expense in your business, line by line. Go through all your credit card statements and monthly charges, especially those auto-pay items you may have forgotten. Cancel anything that is not essential. Then, take a broader look at your fixed costs and plan to adjust if your revenue drops.
Being prepared now can help you avoid making tough decisions later.
2. Reconnect with Clients and Prospects
Now is the time to be visible and proactive. Many people pull back during uncertain times, but staying in touch with your clients and prospects will set you apart. Check in with your clients, reach out, and start conversations with them. Even if there is no possibility of immediate business, showing genuine interest in clients or potential prospects will strengthen your relationships.
3. Tackle Whatever You Have Been Avoiding
Focus on everything you have meant to do but have not done. Whether you update your business model, learn a new skill, or explore new services, take advantage of the slower pace and reflect on how you can apply your experience in new ways. Keep on looking for opportunities you may have overlooked.
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