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Monday, June 3, 2013

Growing a Business in Tough Times

When times are tough some businesses struggle while others grow. Some important considerations are:

  1. You are not always the expert - Know your limitations. Seek advice.
  2. Shrink or Grow – Best answer may be to grow.  
  3. Over Communicate – Good partners can provide resources.
  4. Gain Influence - Share information. Win customers with knowledge.
  5. Watch the money – Available cash to fund opportunities. Leverage borrowing.
  6. Don’t get sidetracked – Stick to your goal. Know when to change or sell.

How will you make it next time? Do you have a plan?

Steve Koenig, SCORE Counselor



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