Are you wondering about things that you could have done differently in your business? Yes, me too!
I am one who actively focuses on solutions and not the problem. Therefore, if you have a problem, I encourage you to focus on the solution. Focusing on the problem is like trying to move a car without gas. We need to get to the gas station! Focus on how we are going to get there.
This has been a time of reflection for individuals and businesses alike. Use this time to see what you will do differently and what you will keep. Who has time to focus on the issues that it is causing? Focus only on the issues if you are using this as a basis for the solution you are trying to derive.
In the international newspapers, we can see familiar brands filing for bankruptcy. Who would have thought? RIGHT??
Managing your finances is a serious thing. Each business is different, and there are so many things that go into starting and sustaining a business. You may start out with debt just as well as you may not.
You may start out debt free but then something happens that forces you to take on debt.
Decisions are made based on history and anticipated new trends. One thing that remains constant is that you must have a contingency plan. You must always consider what could go wrong... Plan for what could go wrong... When you do, you can weather many storms and it also can buy time for you to adjust course.
Historically, you may have ran a business that did not have a contingency plan... OR one that did but did not consider an environment with absolutely no sales for an extended period of time. Implement a holistic approach and ensure that your plan is comprehensive.
So, now is that time. Learn from your own mistakes and those of others! I love the below video because it pretty much sums it all up!
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