Build Resilience And Thrive As A Business
Recession. Supply shocks. Labour shortages. Increased competition. Shifting demand. Tech advances.
Uncertain times require resilience.
Build a more resilient business to withstand headwinds and bounce back stronger:
🟢 Team. Retain the right people, let go of the wrong people, and know when to bring new people on board. Devoting time here builds resilience.
🟢 Risk Management. Avoid betting on the farm. Focus on strong financials. Diversify customers, suppliers, and offerings. Avoid single points of failure.
🟢 Partnerships. Ask yourself — will a partnership with clear objectives get you better outcomes faster?
Ultimately, resilience will help your SME survive uncertainty and increase its valuation when it’s time to exit.
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